Chapter 6 Review

Front

Calculate the selling price of a $50 item after a 30% markup.

Back

$65

Front

You invest $750 in a savings account. The account earns 5% simple interest per year. What is the total amount in the account after 6 years?

Back

$975

Front

You invest $250 in a savings account. The account earns $20 simple interest in 4 years. What is the annual interest rate?

Back

2%

Front

Convert 75% to a decimal.

Back

0.75

Front

Convert the decimal 0.45 to a percentage.

Back

45%

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time

Front

If you have a principal of $1000 and an interest rate of 4% per year, how much interest will you earn in 3 years?

Back

$120

Front

What is the relationship between percentages and decimals?

Back

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

Front

If an item costs $80 and is on sale for 25% off, what is the sale price?

Back

$60

Front

How do you convert a fraction to a percentage?

Back

Multiply the fraction by 100.