Topic 3.4 - 3.6 Review

Front

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

Back

Percentage = (Part / Whole) x 100

Front

How do you calculate a shipping fee that is a percentage of the purchase price?

Back

Shipping Fee = Purchase Price x (Shipping Percentage / 100)

Front

What is markup in pricing?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

How do you calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Cost Price x Markup Percentage)

Front

What is percent error?

Back

Percent Error = |(Estimated Value - Actual Value) / Actual Value| x 100

Front

How do you calculate percent error?

Back

Percent Error = (|Estimated - Actual| / Actual) x 100

Front

What is simple interest?

Back

Simple Interest = Principal x Rate x Time

Front

How do you find the principal amount using simple interest?

Back

Principal = Interest / (Rate x Time)

Front

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

Back

Finding a percentage of a number means calculating a fraction of that number based on the percentage.

Front

What is 160% of a number?

Back

To find 160% of a number, multiply the number by 1.6.