Wednes day , Feb. 5, 2014

Wednesday, Feb. 5, 2014

Directions: Please come in and get your journal. On your next blank page, write today’s date on the top line. Title this page ~

Taxes, Tips and Discounts. Below the date, write the Challenge Question.

Challenge Question: How do use convert a percent to a decimal? Why is this important to know when calculating taxes, tips or discounts?

Warm-Up: Complete the warm-up in your journal with 0 noise level!

Write each percent as a decimal:1. 4%

2. 12%3. 29%

4. 7.25%5. 120%

Taxes, Tips and Discounts

Difference between Discounts and Markups

Discount- A reduction in

price on the amount of goods or a service

Tax and Tip (Markups)

- Added on to the total cost incurred by the producer of a good or service in order to create a profit

Sales Tax and TipSales Tax – Percentage of the

cost of a good or service paid to a seller. (added to the total cost of the bill)

Tip - a gratuity or a voluntary additional payment made for a service.

Sales Tax And Tip1) Find the tip… if

needed (usually calculated based on total of bill not including the sales tax)

2) Find the sales tax.3) Add the food bill,

tip, and sales tax.

Calculating Sales Tax

Total Cost Including Tax

Finding Sales Tax and Tip

• At a restaurant, you order a meal that costs $12. You leave a 20% tip. The sales tax is 5%. What is the total cost of the meal?

Steps:1) Find the tip.

2) Find the sales tax.

3) Add the bill, tip, and tax.

20% ∙ 12 = $2.40

5% ∙ 12 = $0.60

The total cost is $15

= $15$12 + $2.40 +

$0.60

**You can either multiply $12 by .20 or divide $12 by 5

**You multiply $12 by .05

Finding Sales Tax and Tip

• At a restaurant, you order a meal that costs $8. You leave a 15% tip. The sales tax is 6%. What is the total cost of the meal?

Steps:1) Find the tip.

2) Find the sales tax.

3) Add the bill, tip, and tax.

15% ∙ 8 =

6% ∙ 8 =

The total cost is $9.68

=

**You multiply $8 by .15

**You multiply $8 by .06

Finding Discounts

Finding the Total Price after Discount

Presentation:•How did we do today?

Did we complete the daily warm-up with 0 noise level?Did we maintain classroom operating procedures?Did we take all the notes without being asked several times?

Learning Together

• Complete the Math Café Menu exercise with your partners.

• You have 25 minutes

Learning Together:•How did we do today?

Did we maintain classroom operating procedures?Did we work toward our learning goals? I can use my

knowledge of converting percentages to decimals to calculate taxes, tips and discounts.

Did we stay on topic (no sidebar conversations) to complete the tasks?

Just For MeBy yourself: Noise Level 0, raise your hand if you need help!• Complete the Taxes, Tips and

Discounts WS• You will have 30 minutes

Just for Me:•How did we do today?

Did we maintain classroom operating procedures including 0 noise level?

Did we work toward our learning goals? I can use my knowledge of converting percentages to decimals to calculate taxes, tips and discounts.

Did we ask Mrs. Camp for help instead of our partner?

AssessmentBy yourself: Noise Level 0• Answer the CQ in your journal.• We will share out answers in 3

minutes!

Wrap-Up• Homework: Complete the Taxes, Tips and Discounts WS if

you did not finish… it is due on Friday at the beginning of class for a HW grade.

• Supplies: Put your journal in the class bin (if you do not need it at home) and place any supplies used back in the supply bins.• How did we do today?

Did we maintain classroom operating procedures?Did we work toward our learning goals? I can use my

knowledge of converting percentages to decimals to calculate taxes, tips and discounts.

Did we complete the tasks?