
Consumer Sales Flashcard
Flashcard
•
Mathematics
•
•
Practice Problem
•
Hard
Wayground Content
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14 questions
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1.
FLASHCARD QUESTION
Front
What is gratuity and how is it calculated?
Back
Gratuity, or tip, is a sum of money given to service workers for their service. It is typically calculated as a percentage of the total bill. For example, a 20% gratuity on a $32.85 meal is calculated as $32.85 x 0.20 = $6.57.
2.
FLASHCARD QUESTION
Front
How do you calculate the final price after applying a discount?
Back
To calculate the final price after a discount, subtract the discount amount from the original price. For example, for a vase priced at $266.70 with a 10% discount, the discount is $266.70 x 0.10 = $26.67, making the final price $266.70 - $26.67 = $240.03.
3.
FLASHCARD QUESTION
Front
What is simple interest and how is it calculated?
Back
Simple interest is calculated using the formula: Interest = Principal x Rate x Time. For example, if Dan borrows $2,000 at a 12% annual interest rate for 6 months, the interest is $2,000 x 0.12 x (6/12) = $120.
4.
FLASHCARD QUESTION
Front
How do you determine the best buy among multiple options?
Back
To determine the best buy, compare the final prices after discounts or offers. Calculate the total cost for each option and choose the one with the lowest price.
5.
FLASHCARD QUESTION
Front
What is percent change and how is it calculated?
Back
Percent change is calculated using the formula: Percent Change = (New Value - Old Value) / Old Value x 100%. For example, if Vera's average changed from 96 to 91, the percent change is (91 - 96) / 96 x 100% = -5.2%.
6.
FLASHCARD QUESTION
Front
What is a coupon and how does it affect pricing?
Back
A coupon is a voucher that provides a discount on a product or service. It reduces the price paid by the consumer, making the purchase more economical.
7.
FLASHCARD QUESTION
Front
What does it mean to save a percentage on a purchase?
Back
Saving a percentage means reducing the price by a certain percentage of the original price. For example, saving 10% on a $100 item means paying $90.
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