Discounts,Tips. Tax, Commission, Simple Interest

Front

What is the formula to calculate the total cost after applying a discount and sales tax?

Back

Total Cost = (Original Price - Discount) + (Original Price - Discount) * Sales Tax Rate

Front

How do you calculate the percentage of a part compared to a whole?

Back

Percentage = (Part / Whole) * 100

Front

What does the formula I = PRT represent in finance?

Back

I = Interest, P = Principal, R = Rate (as a decimal), T = Time (in years)

Front

How do you calculate simple interest?

Back

Simple Interest = Principal × Rate × Time

Front

What is the formula to find the rate of decrease?

Back

Rate of Decrease = ((Old Value - New Value) / Old Value) * 100

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide by 100.

Front

What is a coupon in the context of discounts?

Back

A coupon is a voucher that provides a discount on a purchase.

Front

How do you calculate the total interest earned over multiple years?

Back

Total Interest = Principal × Rate × Time for each year, then sum them up.

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus any interest earned.

Front

How do you determine the final amount after applying interest?

Back

Final Amount = Principal + Interest