Percents Retake Assignment

Front

What is the formula to calculate the total cost including tax?

Back

Total Cost = Price + (Price * Tax Rate)

Front

If an item costs $100 and the tax rate is 5%, what is the total cost?

Back

Total Cost = $100 + ($100 * 0.05) = $105

Front

What is simple interest?

Back

Simple interest is calculated using the formula: Interest = Principal x Rate x Time.

Front

How do you convert a percentage to a decimal?

Back

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

Front

What is the formula for calculating the total amount owed on a simple interest loan?

Back

Total Amount Owed = Principal + (Principal x Rate x Time)

Front

If you borrow $2000 at a 4% interest rate for 3 years, how much interest will you pay?

Back

Interest = $2000 x 0.04 x 3 = $240.

Front

What is a markup?

Back

A markup is the amount added to the cost price of goods to cover overhead and profit.

Front

If a product costs $50 and is marked up by 20%, what is the selling price?

Back

Selling Price = Cost + (Cost * Markup Rate) = $50 + ($50 * 0.20) = $60.

Front

How do you calculate the percentage of a number?

Back

Percentage = (Part / Whole) x 100.

Front

What is the percentage of 30 out of 150?

Back

Percentage = (30 / 150) x 100 = 20%.