The Handy Math Answer Book

(Brent) #1

Blood carries oxygen to the heart, and if there is less blood (and thus, less oxygen)
reaching the heart, chest pain can result. If there is a near-complete or complete
blockage that cuts off the blood supply to a portion of the heart, a heart attack
(myocardial infarction) is often the result. This is why most doctors recommend
watching your numbers for total cholesterol, HDL, and LDL for signs of any change.


MATH AND THE CONSUMER’S MONEY


How do I make change?


“Making change” is an important monetary endeavor no matter where a person travels
or lives. It is defined as the change (in coins and/or bills) a customer receives after
making a purchase, especially when the customer gives the merchant more money
than the amount due. For example, say a person visiting a farmer’s market in the Unit-
ed States buys a half pound of garlic for $2.60 and gives the merchant a $20.00 bill. To
make change, the merchant would first subtract $20.00 $2.60 $17.40; or the cus-
tomer is to receive $17.40 in change.


The resulting change would start with the highest denomination and work down:
a $10 bill, a $5.00 bill, two $1.00 bills, a quarter ($0.25), a dime ($0.10), and a nickel
($0.05). The merchant would then count the change out to the customer, stating each
amount in the “opposite” fashion: “That’s a total of $2.60 out of $20.00; your change is
two sixty-five [$2.65 as the nickel is given], two seventy-five [$2.75 as the dime is
given], three dollars [as the quarter is given], four dollars [as the first dollar bill is
given], five dollars [as the second dollar bill is given], ten dollars [as the five-dollar bill
is given], and twenty [as the ten-dollar bill is given].”


What is a store discount?


Many stores—from apparel shops to bookstores—offer a discount on the retail price
or, less often, on the sale price. For example, say a sweater that originally costs $50.00
is discounted by 25 percent during a sale at a department store. The customer will
actually pay 75 percent (or 75/100 or 0.75) of $50.00. To determine the sale price, mul-
tiply $50.00 by 25 percent (50 0.25 12.50); then subtract the discount from the
original price to find the sale price, or $50.00 $12.50 $37.50.


How does a person calculate sales taxon purchases?


Most states and cities charge sales tax on retail purchases made by customers—from
clothes to certain foods. This sales tax is based on a percent of the purchase price, with
the percentage of tax called the tax rate. In turn, each state’s tax rates vary greatly,
often with the counties charging additional taxes: For example, in Vermont, the state 409


EVERYDAY MATH

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