Consumer Math

Front

Solve for x: 2x + 14 = 28

Back

x = 7

Front

A dress is marked up from 75 dollars to 125 dollars. What is the percent increase?

Back

Percent Increase = ((New Price - Original Price) / Original Price) * 100 = 66.7%

Front

Solve for x: 5x - 25 = -35

Back

x = -2

Front

What is the formula for calculating percent change?

Back

Percent Change = ((New Value - Old Value) / Old Value) * 100

Front

Define 'markup' in consumer math.

Back

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

Front

What is the formula for calculating total cost after tax?

Back

Total Cost = Price + (Price * Tax Rate)

Front

If an item costs $50 and has a 20% discount, what is the sale price?

Back

Sale Price = Original Price - (Original Price * Discount Rate) = $40

Front

What is the difference between fixed and variable costs?

Back

Fixed costs do not change with the level of production, while variable costs do.

Front

How do you calculate the selling price of an item?

Back

Selling Price = Cost Price + Markup

Front

What is a budget?

Back

A budget is a plan for managing income and expenses over a specific period.