Percent Change/Discount/I=Prt

Front

What is percent change?

Back

Percent change is a way to express a change in value as a percentage of the original value. It is calculated using the formula: ((new value - old value) / old value) * 100.

Front

How do you calculate a discount?

Back

To calculate a discount, multiply the original price by the discount rate (as a decimal) and subtract that amount from the original price. Formula: Discount = Original Price x Discount Rate.

Front

What does I=Prt stand for?

Back

I=Prt is the formula for calculating simple interest, where I is the interest, P is the principal amount (initial loan), r is the rate of interest (as a decimal), and t is the time (in years).

Front

How do you find the total amount owed on a loan?

Back

To find the total amount owed on a loan, calculate the interest using I=Prt and then add it to the principal amount. Total Amount = Principal + Interest.

Front

What is a markup?

Back

Markup is the amount added to the cost price of a product to determine its selling price. It is often expressed as a percentage of the cost price.

Front

How do you calculate percent markup?

Back

Percent markup is calculated by taking the difference between the selling price and the cost price, dividing it by the cost price, and then multiplying by 100. Formula: Percent Markup = ((Selling Price - Cost Price) / Cost Price) * 100.

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, typically calculated as a percentage of the total bill.

Front

How do you calculate a tip?

Back

To calculate a tip, multiply the total bill by the tip percentage (as a decimal). Formula: Tip = Total Bill x Tip Percentage.

Front

What is the formula for calculating simple interest?

Back

The formula for calculating simple interest is I = Prt, where I is the interest, P is the principal amount, r is the rate of interest (as a decimal), and t is the time in years.

Front

What is a loan?

Back

A loan is a sum of money borrowed that is expected to be paid back with interest over a specified period.