Real-World Percents

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 * 0.20 = 10.

Front

What does 'discount' mean in terms of pricing?

Back

A discount is a reduction in the original price of a product or service.

Front

If an item costs $100 and is on sale for 25% off, what is the sale price?

Back

The sale price is $75. (100 - (100 * 0.25) = 75)

Front

What is a markup?

Back

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

Front

If a product costs $50 and has a 40% markup, what is the selling price?

Back

The selling price is $70. (50 + (50 * 0.40) = 70)

Front

What is simple interest?

Back

Simple interest is calculated on the principal amount only, not on the interest accrued.

Front

How do you calculate simple interest?

Back

Simple interest = Principal x Rate x Time. For example, for $1000 at 5% for 3 years, it would be 1000 * 0.05 * 3 = $150.

Front

What is a commission?

Back

A commission is a fee paid to an agent or employee for their services, usually calculated as a percentage of the sales they make.

Front

If a salesperson earns a 10% commission on a $200 sale, how much do they earn?

Back

They earn $20. (200 * 0.10 = 20)