7th Chapter 2 (Percents) Test Review

Front

What is simple interest?

Back

Simple interest is the interest calculated only on the principal amount, or the original amount of money deposited or borrowed.

Front

How do you calculate simple interest?

Back

Simple Interest (SI) = Principal (P) × Rate (R) × Time (T). The rate is expressed as a decimal.

Front

What is the formula to find the total amount after interest is applied?

Back

Total Amount = Principal + Simple Interest.

Front

If Chaleah deposited $900 at a 6% interest rate for 2 years, how much interest will she earn?

Back

$108.

Front

What is the total cost of a $10 lamp with a 5% tax?

Back

$10.50.

Front

How do you find the percentage of a number?

Back

To find the percentage of a number, divide the part by the whole and multiply by 100.

Front

What percent of 80 is 8?

Back

10%.

Front

If Lucinda spent $48 and that was 15% of her savings, how do you find her total savings?

Back

Total Savings = Amount Spent / Percentage = $48 / 0.15 = $320.

Front

What is the relationship between percentage, part, and whole?

Back

Percentage = (Part / Whole) × 100.

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide by 100.