RP3 Extra

Front

What is simple interest?

Back

Simple interest is the interest calculated only on the principal amount, or the original amount of money borrowed or invested. The formula is I = PRT, where I is interest, P is principal, R is the rate of interest per year, and T is the time in years.

Front

How do you calculate total amount to be paid back with simple interest?

Back

To calculate the total amount to be paid back, use the formula: Total Amount = Principal + Interest. First, calculate the interest using I = PRT, then add it to the principal.

Front

What is the formula for calculating percent decrease?

Back

Percent decrease is calculated using the formula: Percent Decrease = ((Original Price - Sale Price) / Original Price) x 100.

Front

How do you find 25% of a number?

Back

To find 25% of a number, multiply the number by 0.25 (or divide it by 4). For example, 25% of 80 is 80 x 0.25 = 20.

Front

What is a percent proportion?

Back

A percent proportion is a way to express a part of a whole as a percentage. It is often set up as a fraction: Part/Whole = Percent/100.

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How do you solve for percent in a percent proportion?

Back

To solve for percent in a percent proportion, cross-multiply and divide. For example, if 15 is what percent of 75, set it up as 15/75 = x/100, then solve for x.

Front

What is a markup?

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.

Front

How do you calculate the sale price after a markup?

Back

To calculate the sale price after a markup, use the formula: Sale Price = Cost Price + (Cost Price x Markup Percentage).

Front

What is the difference between percent and percentage?

Back

Percent is a ratio expressed as a fraction of 100, while percentage refers to the actual number or amount represented by that ratio.

Front

How do you convert a percentage to a decimal?

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To convert a percentage to a decimal, divide the percentage by 100. For example, 20% as a decimal is 20/100 = 0.20.