RP3 Extra

Front

What is the formula to calculate the sale price after a markup?

Back

Sale Price = Wholesale Cost + (Wholesale Cost × Markup Percentage)

Front

How do you calculate the percent of error?

Back

Percent of Error = |(Estimated Value - Actual Value)| / Actual Value × 100%.

Front

What is the formula to calculate percent decrease?

Back

Percent Decrease = (Original Price - Sale Price) / Original Price × 100%.

Front

What is simple interest?

Back

Simple Interest = Principal × Rate × Time.

Front

How do you calculate commission?

Back

Commission = Total Sales × Commission Rate.

Front

If a bicycle costs $75 and has a markup of 55%, what is the sale price?

Back

Sale Price = $75 + ($75 × 0.55) = $116.25.

Front

If the estimated deer population is 17,600 and the actual count is 21,300, what is the percent of error?

Back

Percent of Error = |(17,600 - 21,300)| / 21,300 × 100% = 17.4%.

Front

What is the percent decrease from $65.50 to $52.40?

Back

Percent Decrease = ($65.50 - $52.40) / $65.50 × 100% = 20%.

Front

If Emilio borrows $1200 at 8% simple interest for 2 years, how much will he pay back?

Back

Total Payback = Principal + (Principal × Rate × Time) = $1200 + ($1200 × 0.08 × 2) = $1392.

Front

If Sharon sells $37,000 worth of items at a 17% commission, how much does she earn?

Back

Earnings = $37,000 × 0.17 = $6,290.