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Mathematics
•
7th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is markup in pricing?
Back
Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.
2.
FLASHCARD QUESTION
Front
How do you calculate the retail price after markup?
Back
To calculate the retail price after markup, multiply the cost price by (1 + markup percentage). For example, if the cost is $7 and the markup is 42%, the retail price is $7 * (1 + 0.42) = $9.94.
3.
FLASHCARD QUESTION
Front
What is the formula for calculating simple interest?
Back
The formula for calculating simple interest is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest per year, and T is the time in years.
4.
FLASHCARD QUESTION
Front
How do you calculate the interest on a loan?
Back
To calculate the interest on a loan, use the simple interest formula: I = PRT. For example, for a loan of $1200 at 7.5% for 2 years, the interest is $1200 * 0.075 * 2 = $180.
5.
FLASHCARD QUESTION
Front
What is percent decrease?
Back
Percent decrease is a measure of how much a quantity has decreased relative to its original amount, expressed as a percentage.
6.
FLASHCARD QUESTION
Front
How do you calculate percent decrease?
Back
To calculate percent decrease, use the formula: Percent Decrease = ((Original Price - New Price) / Original Price) * 100. For example, for a sweater that decreased from $90 to $65, the percent decrease is ((90 - 65) / 90) * 100 = 28%.
7.
FLASHCARD QUESTION
Front
What is the formula for calculating the percentage of a total?
Back
The formula for calculating the percentage of a total is: (Part / Whole) * 100.
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