Lessons 20-21 Test Review: Solve Problems with Percents 2024-25

Front

What is the formula for calculating simple interest?

Back

I = Prt, where I is the interest, P is the principal amount, r is the rate of interest per year, and t is the time in years.

Front

How do you calculate the annual interest rate if you know the simple interest, principal, and time?

Back

Rearrange the formula I = Prt to find r: r = I / (Pt).

Front

What is the difference between a dollar-off coupon and a percentage-off coupon?

Back

A dollar-off coupon gives a fixed amount off, while a percentage-off coupon gives a discount based on a percentage of the total price.

Front

How do you calculate the final price after applying a percentage discount?

Back

Final Price = Original Price - (Original Price × Discount Percentage).

Front

What is sales tax and how is it calculated?

Back

Sales tax is a percentage of the sale price added to the total cost. It is calculated by multiplying the sale price by the sales tax rate.

Front

How do you calculate the total cost of an item including sales tax?

Back

Total Cost = Item Price + (Item Price × Sales Tax Rate).

Front

What is a tip and how is it typically calculated in restaurants?

Back

A tip is a gratuity given for service, often calculated as a percentage of the total bill.

Front

How do you calculate the total cost of a meal including tip?

Back

Total Cost = Meal Subtotal + (Meal Subtotal × Tip Percentage).

Front

If a TV is on sale for 15% off and the original price is $1,250, what is the sale price?

Back

Sale Price = Original Price - (Original Price × Discount Percentage) = $1,250 - ($1,250 × 0.15) = $1,062.50.

Front

What is the total cost of a canoe priced at $333.75 with a sales tax of 5.25%?

Back

Total Cost = $333.75 + ($333.75 × 0.0525) = $351.27.