7.rp.3

Front

What is simple interest?

Back

Simple interest is calculated using the formula: I = PRT, where I is the interest, P is the principal amount, R is the rate of interest per year, and T is the time in years.

Front

How do you calculate the sale price after a discount?

Back

To calculate the sale price after a discount, use the formula: Sale Price = Original Price - (Original Price × Discount Rate).

Front

What is percent error?

Back

Percent error is a measure of how inaccurate a measurement is, expressed as a percentage of the actual value. It is calculated using the formula: Percent Error = |(Measured Value - Actual Value)| / Actual Value × 100%.

Front

How do you calculate percent change?

Back

Percent change is calculated using the formula: Percent Change = (New Value - Old Value) / Old Value × 100%.

Front

What is the formula for calculating interest earned over time?

Back

The formula for calculating interest earned over time is: Interest = Principal × Rate × Time.

Front

If an item costs $100 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $100 - ($100 × 0.25) = $75.

Front

What is the difference between percent error and percent change?

Back

Percent error measures the accuracy of a measurement compared to the actual value, while percent change measures the relative change in value over time.

Front

How do you find the original price before a discount?

Back

To find the original price before a discount, use the formula: Original Price = Sale Price / (1 - Discount Rate).

Front

What is a principal amount in finance?

Back

The principal amount is the initial sum of money invested or loaned, before any interest is added.

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100. For example, 25% = 0.25.