10.1 Percent 591 Solution a) We will let x be the amount of the down payment. This problem can be restated as “20% of the selling price is what number?” We will translate this sentence into an equation and then solve the equation. x x x 20% of the selling price is what number ? 0.20 189,000 0.20 189,000 37,800 ⋅ = ⋅ = = Melissa’s down payment will be $37,800. b) To determine the mortgage loan amount, we subtract the down payment, $37,800, from the selling price of the condominium, $189,000. $189,000 $37,800 $151,200. − = Thus, the amount of the mortgage loan was $151,200. 7 Now try Exercise 69 Example 10 Chess Tournament During the Gamer’s Heaven chess tournament, 135 players competed. Of these players, 27 were under the age of 14. What percent of the tournament players were under the age of 14? Solution Let x the percent of players under the age of 14. = We will translate the words of the problem into an equation and then solve the equation. ⋅ = = = = = x x x What percent of tournament players were under age 14 ? 135 27 135 27 27 135 0.20 20% Thus, 20% of the tournament players were under the age of 14. 7 Now try Exercise 47 Example 11 Shark Tank Haruto, a contestant on the television show Shark Tank, is seeking a $50,000 investment in exchange for 25% of his company’s value. Determine his company’s value. Solution Let x Haruto’s company’s value. = This problem can be restated as “25% of what number is 50,000?” We will translate this sentence into an equation and then solve the equation. x x x 25% of what number is 50,000 ? 0.25 50,000 0.25 50,000 50,000 0.25 200,000 ⋅ = = = = Thus, the value of Haruto’s company is $200,000. 7 Now try Exercise 59 Learning Catalytics Keyword: Angel-SOM-10.1 (See Preface for additional details.) Instructor Resources for Section 10.1 in MyLab Math • Objective-Level Videos 10.1 • Interactive Concept Video: Order of Operations • Interactive Concept Video: Percent Applications • Interactive Concept Video: Percent Increase and Percent Decrease • PowerPoint Lecture Slides 10.1 • MyLab Exercises and Assignments 10.1 Mikkel Bigandt/123RF
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