Mrs. Garcia’s Student Store
Mrs. Garcia has a great idea... she is going to open a student store. Follow the steps below to work out the set up of her store.
First of all, let’s talk about percents. A percent is part of 100. For example, 0.33 is 33 hundredths or 33%. Write the following decimals as percents
1) 0.34 2) 0.456
OK good. Now go backwards and write the following percents as decimals.
3) 34% 4) 57%
You can also convert fractions to percents by: a) dividing and changing the fraction to a decimal then the decimal to a percent b) converting the fraction to a denominator of 100 and then the numerator is your percent.
Convert the following numbers to percents:
5) 12/50 6) 4/5 7) 3/8
Now that you know your fractions, decimals and percents, it is time to set up the store.
8) In my store, I want to decorate the front windows to show my sale prices. I have 5 windows total and 2 of them are in the front. What percent of my windows do I need to decorate?
9) Now I need to prepare my items to sell. I will mostly sell shirts and pants. 1/5 of my items will be pants. If I buy a total of 350 items, how many of those items will be pants?
10) If 35% of the items will be long sleeve shirts, how many long sleeve shirts will I have? What is 35% of 350?
So now I need to find out how much to sell my shirts. Each shirt I buy from the warehouse is going to cost me $12. I want to charge a 35% markup. This means that I find 35% of 12 and add that to the 12 dollars so I can make money. 11) 35% of 12 is _________________. 12) Add that amount to 12. _________________ 13) So I will charge _______________ for my shirts.
14) What if I charge a 20% markup? How much will I charge?
15) What if I charge a 40% markup? How much will I charge?
16) Explain mark up in your own words.
17) Now that I have priced my items for my store, it is time for set up. I need to hire people to work. I can hire people for $75.00 a day (6 hour day). Find the unit rate per hour.
18) At this rate, how much will an employee earn in a week (assume a work week is 5 days)?
19) Of this weekly rate, 28% of their earnings are to be paid back to taxes. How much is being paid for taxes?
20) How much will the employee actually take home?
I am going to motivate my employees by offering something called commission. This means that if they help a customer, they get a percentage of the customer's purchase added to their paycheck.
21) Let's say I will offer 8% commission. Susan, my worker helps a customer that buys 78$ worth of clothes. How much money will I add to Susan's paycheck that day?
22) Sal has a big sell and helps a customer spend $185.00. What will Sal's commission be?
23) Julie is not very motivated. She doesn't help the customers much and I might have to fire her! Her total sales were $25.00. What will her commission be?
24) Explain commission in your own words.
So the store is now open but business is slow. I think I will have a sale. Right now I sell shirts for $35.00. Let's put them on sale. How much discount should I offer?
25) Calculate the discounts for a $35.00 shirt.
Homework:
Explain the following in your own words.
1. How do you find a percent of a number?
2. What is a percent discount and how do I find it?
3. Write and solve a sample problem, using discount.
4. What is a commission and how do I find it?
5. Write and solve a sample problem using commission.
