# Ch 52: 6th-8th Grade Math: Consumer Math

### About This Chapter

## 6th-8th Grade Math: Consumer Math - Chapter Summary

If you have a 6th, 7th or 8th grader who needs additional help with consumer math, the video lessons in this chapter offer an engaging way to improve his or her skills. The math instructors provide clear-cut explanations and guide students through practice problems so they can apply what they've learned. The lessons teach students how to calculate interest, tax charges, sales discounts, price mark ups, tips and more. Middle schoolers can test their understanding of these consumer math concepts by taking short multiple-choice lesson quizzes as well as a chapter exam. If they have additional questions about the material, students can submit them to instructors for guidance.

## Chapter Lessons and Objectives

Lesson | Objective |
---|---|

Making Change from a Purchase | Students learn how to use the fewest number of coins as possible to make change when buying an item. |

How to Calculate Sales Commissions | The instructor explains what sales commissions are and uses examples to show how to calculate them. |

How to Mark Up a Price | In this lesson, students learn why businesses mark up prices and how to calculate such mark ups. |

Taxes & Discounts: Calculations & Examples | Students are taught how to use percentages to calculate an item's sale price after a discount as well as the amount of charged tax. |

How to Solve Interest Problems: Steps & Examples | The instructor guides students step-by-step through the process of calculating interest. |

Compounding Interest Formulas: Calculations & Examples | Students practice using the compound interest formula to solve example problems. |

How to Calculate Shipping & Handling | The lesson defines shipping and handling and explains how to calculate them. |

How to Calculate a Tip | Students learn how to estimate and calculate tips as well as how to determine a total bill's cost including tip. |

Item Unit Price & Total Cost: Calculations & Examples | The instructor explains how to determine total cost when an item's unit price and quantity are known. |

### 1. Making Change from a Purchase

When making a purchase, a consumer rarely has the exact amount due and often overpays, needing the extra amount paid to be returned as change. Understand the process of making change to give customers the least number of bills and coins as possible, beginning with the largest currency to the smallest.

### 2. How to Calculate Sales Commissions

Discover how to calculate sales commission based on the three types of commission structures. Review what sales commission is and understand the percentage of sales method, the stair step structure, and the fixed commission structure.

### 3. How to Mark Up a Price

Marking up prices to cover costs and earn a profit is a common business practice. This lesson explains the standard formula to mark up a price, and provides examples of markups.

### 4. Taxes & Discounts: Calculations & Examples

Shopping taxes and discounts are two calculations consumers need to understand. Learn the connection between math and shopping, examine examples and calculations for taxes and discounts, and review examples of tax as well as tax and discount calculations.

### 5. How to Solve Interest Problems: Steps & Examples

If a person is trying to learn how to better save money, it's important that they learn about interest. This lesson explores how to calculate interest, how to find the interest, how time plays a part in dealing with interest, and how to find the interest rate.

### 6. Compounding Interest Formulas: Calculations & Examples

Compound interest refers to interest calculated on both the principal amount of a loan or investment as well as on the accumulated interest. Learn about compounding interest formulas, review the calculations, and work examples. Understand the difference between simple and compound interest, and recognize the importance of the order of operations in calculating compound interest.

### 7. How to Calculate Shipping & Handling

Shipping and handling fees are more than just the cost of the business to ship an item to a customer. Discover the details of packaging, shipping, and handling costs that are used to calculate the total cost.

### 8. How to Calculate a Tip

A tip is typically a percentage of a total cost, and they are given in appreciation of a service. Explore how to calculate a tip including taxes and the total cost of a bill through mental math calculations.

### 9. Item Unit Price & Total Cost: Calculations & Examples

Businesses need to understand the relationship between unit prices and total costs to balance expenses and revenue. Learn the details of item unit price, overhead costs, production costs, and total costs that businesses calculate through examples.

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### Other Chapters

Other chapters within the 6th-8th Grade Math: Practice & Review course

- 6th-8th Grade Math: Basic Arithmetic Operations
- 6th-8th Grade Math: Divisibility
- 6th-8th Grade Math: Properties of Numbers
- 6th-8th Grade Math: Number Theory
- 6th-8th Grade Math: Factoring
- 6th-8th Grade Math: Estimating & Rounding
- 6th-8th Grade Math: Whole Numbers
- 6th-8th Grade Math: Simplifying Whole Number Expressions
- 6th-8th Grade Math: Negative Numbers
- 6th-8th Grade Math: Absolute Value
- 6th-8th Grade Math: Integers
- 6th-8th Grade Math: Rational Numbers
- 6th-8th Grade Math: Inequalities
- 6th-8th Grade Math: Introduction to Decimals
- 6th-8th Grade Math: Operations with Decimals
- 6th-8th Grade Math: Introduction to Fractions
- 6th-8th Grade Math: Operations with Fractions
- 6th-8th Grade Math: Percents
- 6th-8th Grade Math: Exponents & Exponential Expressions
- 6th-8th Grade Math: Roots & Radical Expressions
- 6th-8th Grade Algebra: Writing Algebraic Expressions
- 6th-8th Grade Algebra: Basic Algebraic Expressions
- 6th-8th Grade Algebra: Algebraic Distribution
- 6th-8th Grade Algebra: Writing & Solving One-Step Equations
- 6th-8th Grade Algebra: Writing & Solving Two-Step Equations
- 6th-8th Grade Algebra: Simplifying & Solving Rational Expressions
- 6th-8th Grade Math: The Coordinate Graph
- 6th-8th Grade Algebra: Linear Equations
- 6th-8th Grade Algebra: Systems of Linear Equations
- 6th-8th Grade Math: Properties of Functions
- 6th-8th Grade Math: Graphing Functions
- 6th-8th Grade Math: Solving Math Word Problems
- 6th-8th Grade Measurement: Perimeter & Area
- 6th-8th Grade Geometry: Introduction to Geometric Figures
- 6th-8th Grade Geometry: Angles
- 6th-8th Grade Measurement: Units of Measurement
- 6th-8th Grade Geometry: Triangles
- 6th-8th Grade Geometry: Quadrilaterals
- 6th-8th Grade Geometry: Circles
- 6th-8th Grade Geometry: Circular Arcs & Measurement
- 6th-8th Grade Geometry: Polyhedrons & Geometric Solids
- 6th-8th Grade Geometry: Symmetry, Similarity & Congruence
- 6th-8th Grade Geometry: Transformations
- 6th-8th Grade Geometry: Triangle Theorems & Proofs
- 6th-8th Grade Geometry: Similar Polygons
- 6th-8th Grade Geometry: The Pythagorean Theorem
- 6th-8th Grade Math: Data & Graphs
- 6th-8th Grade Math: Probability
- 6th-8th Grade Math: Statistics
- 6th-8th Grade Math: Rates, Ratios & Proportions
- 6th-8th Grade Math: Money
- 6th-8th Grade Math: Number Sequences
- 6th-8th Grade Math: Sets
- 6th-8th Grade Algebra: Monomials & Polynomials