Percent Change, Percent Error, Interest Review

Front

What is percent change?

Back

Percent change is a measure of how much a quantity has increased or decreased relative to its original value, expressed as a percentage.

Front

How do you calculate percent increase?

Back

Percent increase = ((New Value - Original Value) / Original Value) x 100.

Front

What is percent decrease?

Back

Percent decrease is a measure of how much a quantity has decreased relative to its original value, expressed as a percentage.

Front

How do you calculate percent decrease?

Back

Percent decrease = ((Original Value - New Value) / Original Value) x 100.

Front

What is percent error?

Back

Percent error is a measure of how inaccurate a measurement is, expressed as a percentage of the actual value.

Front

How do you calculate percent error?

Back

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

Front

What is simple interest?

Back

Simple interest is the interest calculated only on the principal amount, or the original amount of money.

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal x Rate x Time.

Front

What does 'principal' mean in finance?

Back

Principal is the original sum of money borrowed or invested, excluding any interest or dividends.

Front

What is the interest rate?

Back

The interest rate is the percentage of the principal charged as interest for a specific period.