Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Exercise 144

Solve the following application problem. Round to the nearest cent unless otherwise indicated. (See Examples.)
The bar graph shows the unemployment rate by category in the midst of a serious recession. Use the data provided to estimate the number of unemployed teenagers out of a total of roughly 32,000 working-age teenagers in one city.

SOLUTION
The base is 32,000. The rate for unemployed teenagers is 24,. The number of unemployed teenagers is part of the whole, so part ( P ) is the unknown.

About 7680 of the 32,000 working-age teenagers in the city are unemployed. The calculator solution to this example is

Note: Refer to Appendix B for calculator basics.
Calculating Sales Tax

Becky Smith finally saved enough to buy the guitar she had dreamed about. Her goal was to start a band with her two sisters as backup and a friend as a drummer. The list price on the guitar was $1199.99 and the sales tax was 8.5,. Find the sales tax and total cost.
SOLUTION
The whole ( B ) is $1199.99, and the rate ( R ) is 8.5,.

Now, add the sales tax cost to the cost of the guitar to find the total.
Total = $1199.99 + $102 = $1301.99
BUSINESS OWNERSHIP Jimmy Ruiz has an 82% ownership in a company called Jimmy's Cell Phones. If the company has a value of $98,400 and Ruiz receives an income of 45% of the value of his ownership, find the amount of his income.