Analyze and Solve Percent Problems

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 * 0.20 = 10.

Front

What is markup in pricing?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is often expressed as a percentage of the cost price.

Front

How do you calculate markup price?

Back

To calculate the markup price, multiply the original price by the markup percentage and add it to the original price. For example, if a car costs $7,200 and has a 15% markup, the markup amount is $7,200 * 0.15 = $1,080, making the selling price $8,280.

Front

What is simple interest?

Back

Simple interest is calculated on the principal amount only, not on the interest accrued over time. It can be calculated using the formula: Interest = Principal x Rate x Time.

Front

How do you calculate interest earned on a CD?

Back

To calculate interest earned on a Certificate of Deposit (CD), use the formula: Interest = Principal x Rate x Time. For example, for $700 at 1.8% for 6 years, Interest = $700 x 0.018 x 6 = $75.60.

Front

How do you find the percentage of a group?

Back

To find the percentage of a group, divide the number of items in the group by the total number of items and multiply by 100. For example, if 35 out of 140 customers ordered iced tea, the percentage is (35/140) * 100 = 25%.

Front

What is the formula to find a percentage of a number?

Back

The formula to find a percentage of a number is: Percentage = (Part/Whole) * 100.

Front

How do you calculate a shipping fee based on a percentage?

Back

To calculate a shipping fee based on a percentage, multiply the purchase price by the shipping percentage. For example, for an item costing $56 with a 4.5% shipping fee, the fee is $56 * 0.045 = $2.52.

Front

What does it mean to find a percentage of a number?

Back

Finding a percentage of a number means determining how much that percentage represents in terms of the whole number. For example, finding 0.8% of 1,046 means calculating 1,046 * 0.008 = 8.368.