Percents Review 3B

Front

What is the formula to calculate simple interest?

Back

Simple Interest = Principal × Rate × Time

Front

If you deposit $800 and earn $100 in interest, what is the interest rate?

Back

Interest Rate = (Interest / Principal) × 100 = (100 / 800) × 100 = 12.5%.

Front

What is a markup in pricing?

Back

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

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Cost Price × Markup Percentage)