Percent Problems

Front

What is the formula to calculate the sales tax rate?

Back

Sales Tax Rate = (Sales Tax / Price of the Item) x 100

Front

How do you calculate the percent of change?

Back

Percent of Change = ((New Value - Old Value) / Old Value) x 100

Front

What is the formula for calculating percent error?

Back

Percent Error = (|Estimated Value - Actual Value| / Actual Value) x 100

Front

If 30% of Michael's savings is $210, how do you find his total savings?

Back

Total Savings = Amount Spent / (Percentage as a Decimal) = $210 / 0.30 = $700

Front

What is the relationship between a percentage and a decimal?

Back

To convert a percentage to a decimal, divide by 100 (e.g., 6.2% = 0.062).

Front

What does it mean if a population estimate has a percent error of 17.4%?

Back

It means the estimated population is 17.4% off from the actual population count.

Front

How do you express a percent as a fraction?

Back

To express a percent as a fraction, place the percent over 100 and simplify (e.g., 33.3% = 33.3/100 = 1/3).

Front

What is the significance of understanding percent change in real-life applications?

Back

Percent change helps in understanding increases or decreases in quantities, such as prices, populations, or allowances.

Front

How can you find the sales tax amount if you know the sales tax rate and the price of an item?

Back

Sales Tax Amount = Sales Tax Rate x Price of the Item.

Front

What is the importance of converting percentages to decimals in financial calculations?

Back

Converting percentages to decimals is essential for accurate calculations in formulas, such as interest calculations.