MAKING MONEY!

7th Grade Advanced Math

I can solve percent problems in real world situations - - - Markup and Commission

Opening Thoughts

You sell fruit drinks at the town field. This past weekend, you collected $107. Your expenses for the fruit drinks were $82. What is your profit?

LET'S ACE IT!

VOCABULARY DISCUSSION

WHOLESALE

Think Sam's Club, Costco, Badger Sports Warehouse, Outlet Stores.

RETAIL

Think full price, buying things at the store, price tags

PROFIT

Think making more money than what you spent.

COMMISSION

Think sales people, profit, money you make off a sale.

How Can We Use This Info?

INCREASING SALES

The sales team at an electronics store sold 48 computers last month. The manager at the store wants to encourage the sales team to sell more computers and is going to give all the sales team members a bonus if the number of computers sold increases by 30% in the next month. How many computers must the sales team sell to receive the bonus? Explain your reasoning.

Commission

A salesperson set a goal to earn $2,000 in May. He receives a base salary of $500 per month as well as a 10% commission for all sales in that month. How much merchandise will he have to sell to meet his goal?

RETAIL PRICE

A Store bought $450 worth of items at wholesale price. The store will mark up the items by 120%. What's the retail price?

Ready to Move On?

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