Review for CFA #2 Math Exam

Front

What is the formula to calculate the amount of acid in a solution?

Back

Amount of acid = Total volume of solution × Percentage of acid.

Front

If a solution is 30% acid and the total volume is 350 mL, how much acid is present?

Back

105 mL of acid.

Front

What is the formula to calculate the total cost including sales tax?

Back

Total cost = Listed price + (Listed price × Sales tax rate).

Front

If a laptop costs $624.95 and the sales tax is 10%, what is the total cost?

Back

$687.45.

Front

How do you calculate sales tax from a listed price?

Back

Sales tax = Listed price × Sales tax rate.

Front

If an item costs $95 and the sales tax is 5%, how much is the sales tax?

Back

$4.75.

Front

What is a discount?

Back

A reduction in the regular price of an item.

Front

If an item is regularly priced at $39 and is discounted by 70%, what is the sale price?

Back

$11.70.

Front

What is simple interest?

Back

Interest calculated only on the principal amount.

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time.