Solve the following percentage problem.
A pair of boots at a local Fargo-Moorhead chain store is $195. How much more would the boots cost if you buy the boots in the Fargo store than they would cost in the Moorhead store? The sales tax rate in Fargo is 7% and Moorhead has no sales tax on clothing.
The boots would cost 7% more in Fargo than in Moorhead due to the sales tax. By the definition of percent, the rate of 7% would mean that a person would pay 7¢ for every 100¢; that is, $0.07 for each $1. Since the price of the boots is $195 and each dollar contributes $0.07 of tax, a person would need to pay $0.07(195) = $13.65 additional for sales tax. The boots would cost $13.65 more in Fargo than in Moorhead.
This problem illustrates an example showing how understanding percentages can save someone money when shopping for a better deal. Often people just look at the price of an item and do not factor in all the costs. For example, a clothing item could be listed at a lower price in Fargo, yet actually be cheaper in Moorhead. In this session, we introduce methods for solving problems involving percentages.
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Date last modified: July 14, 2010.
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By Kris Montis and Timothy Peil
