Second Class

8/7/2008 is the second class. This what I learnt;


Percentages


Percentages is formed by multiplying a number, called the based by the percent, called the rated.

-Determining Percentages


FORMULA: Percentages = Rate x Base


For examples 20% of 120 = 0.20 x 120 = 24


-Percent problems of Increase or Decrease

Problems involving change, increase or decrease, are in very common in business application.
(1) For case of increase, the amount of change is added to the original quantity:
Original quantity + increase = new quantity
(2) For case of decrease, the amount of changes is subtracted form the original quantity:
Original quantity – decrease = new quantity

The amount increase or decrease is usually stated as a percent of the original quantity.

















PERCENT APPLICATIONS

-Sales Commissions

Sales commissions are paid to employees or companies sell merchandise in store or by calling on customers. The commission is meant to motivate sales persons to sell more. Commissions may be paid in a addition salary or instead of salary.

For examples, if a sales person receives a 10% commissions on their sales and sells RM1500 worth of merchandise, they would earn RM150 in commissions.


-Price Discount

Store will often sell items for a discounted sales price. The store will discount an item by the percent of the original price.
For example, an item that originally cost RM20 may be discounted by 25%

To find the amount of discount calculates 25% of RM20. (PM20.00 x 25/100 = RM5.00)

Subtract the discount from the original price to find the sales prices.
(RM20.00-RM5.00=RM15.00 sales price).


-Amount Sales Tax

Many states and city levy a sales tax on retail purchases. The sales tax is determined by finding o percentages of the purchase price. The percentages of tax is called rate various between different states and cities.

If the sales tax 6% and an RM10.00 purchase is made, the sales tax is
RM10.00 x 6/100 or RM0.60.


-Mark Up

Stores buy items from a wholesaler distributor and increase the price when they sell items to consumers. The increase in price provides money for the operation of the store and the salaries of people who work in the store.

A store may have ruled that a price of the certain type of items need to be increase by a certain percentages to determine how much it sell for. This percentage is called the markup.

Is the cost is known and the percentages is know, the sales price is the original cost plus the amount of markup. For example, is the original cost RM4.00 and the markup is 25%, the sales price should be RM4.00 +RM4.00 x 25/100 = RM5.00.

A faster way to calculate the sales price is to make the original cost equal to 100%. The markup is 25% so the sales price is 125% of the original cost. In the example,
RM4.00 x 125/100 = RM5.00.