Mid Term Review: Math Concepts Multiple Choice Exam

Front

What is the formula to calculate the percentage of a tip based on the total bill?

Back

Percentage of Tip = (Tip Amount / Total Bill) * 100

Front

If you buy multiple items, how do you calculate the total cost including sales tax?

Back

Total Cost = (Cost of Items) + (Cost of Items * Sales Tax Rate)

Front

How do you calculate the depreciation of an asset over time?

Back

Depreciated Value = Initial Value * (1 - Depreciation Rate)^Number of Years

Front

What is the formula to calculate the savings from a discount?

Back

Savings = Original Price * Discount Rate

Front

How do you determine the mode of a set of numbers?

Back

The mode is the number that appears most frequently in a data set.

Front

What is the definition of percentage?

Back

A percentage is a fraction expressed as a part of 100.

Front

How do you convert a percentage to a decimal?

Back

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

Front

What is the relationship between sales tax and the final price of an item?

Back

Sales tax increases the final price of an item based on the tax rate applied.

Front

What does it mean for a car to depreciate in value?

Back

Depreciation means the reduction in the value of an asset over time, often due to wear and tear.

Front

How do you find the total cost of an item after applying a discount?

Back

Total Cost = Original Price - Savings from Discount