Math 7 Chapter 2 Review

Front

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

Back

Total Cost = Original Price - (Original Price × Discount Rate)

Front

If a hotel charges $89.99 per night and offers a 10% discount, what is the discounted price?

Back

Discounted Price = $89.99 - ($89.99 × 0.10) = $80.99

Front

What is the definition of 'markdown'?

Back

A markdown is a reduction in the original price of an item.

Front

How do you calculate sales tax on an item?

Back

Sales Tax = Price × Sales Tax Rate.

Front

If a battery costs $72 and the sales tax is 7.5%, what is the total cost?

Back

Total Cost = $72 + ($72 × 0.075) = $77.40

Front

What is the percent of change formula?

Back

Percent of Change = (New Value - Original Value) / Original Value × 100%.

Front

If the original cost was $5 and the new cost is $1, what is the percent of change?

Back

Percent of Change = (1 - 5) / 5 × 100% = -80% (Decrease 80%)

Front

Mary lost 30 pounds from her original weight of 180 pounds. What is the percent of change in her weight?

Back

Percent of Change = (180 - (180 - 30)) / 180 × 100% = 16.67% (approximately 17% Decrease).

Front

What does 'percent' mean in mathematics?

Back

Percent means 'per hundred' and is used to express a number as a fraction of 100.

Front

What is the difference between 'markup' and 'markdown'?

Back

Markup is the amount added to the cost price to determine the selling price, while markdown is a reduction from the original selling price.