Mid Term Review: Math Concepts Multiple Choice Exam

Front

What is the formula to calculate the original price after a discount?

Back

Original Price = Sale Price / (1 - Discount Rate)

Front

How do you calculate a 10% tip on a bill?

Back

Tip = Bill Amount x 0.10

Front

What is the formula for compound interest?

Back

A = P(1 + r/n)^(nt), where A is the amount, P is the principal, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years.

Front

How do you find the mean of a set of numbers?

Back

Mean = (Sum of all numbers) / (Total count of numbers)

Front

What is the formula to calculate total cost including sales tax?

Back

Total Cost = Item Price + (Item Price x Sales Tax Rate)

Front

If an item is discounted by 10%, how do you find the discount amount?

Back

Discount Amount = Original Price x Discount Rate

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal and also on the accumulated interest.

Front

How do you convert a percentage to a decimal?

Back

Divide the percentage by 100.

Front

What is the formula for calculating percentage increase?

Back

Percentage Increase = [(New Value - Old Value) / Old Value] x 100

Front

How do you calculate the total amount after applying a percentage discount?

Back

Total Amount = Original Price - (Original Price x Discount Rate)