2nd 9 weeks review Math 7

Front

What is markup in pricing?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the total price after applying a markup?

Back

Total Price = Cost Price + (Markup Percentage × Cost Price). For example, if a book costs $4.25 and has a 30% markup, the total price is $4.25 + (0.30 × $4.25) = $5.53.

Front

What is the expression for the total cost of cookies if each cookie costs $3.00 and boxing costs $2?

Back

The expression is 3x + 2, where x is the number of cookies.

Front

How do you calculate the total cost after applying a discount?

Back

Total Cost = Original Price - (Discount Percentage × Original Price). For example, if a book costs $14.55 and has a 20% discount, the total cost is $14.55 - (0.20 × $14.55) = $11.64.

Front

What is the constant of proportionality?

Back

The constant of proportionality is the constant value (k) that relates two proportional quantities. For example, if y = kx, then k is the constant of proportionality.

Front

How do you find the price after a percentage discount?

Back

To find the price after a percentage discount, subtract the discount amount from the original price. For example, for a $15 tie with a 25% discount, the discount is $3.75, so the price is $15 - $3.75 = $11.25.

Front

What does it mean for two quantities to be proportional?

Back

Two quantities are proportional if they maintain a constant ratio. This means that as one quantity increases, the other quantity increases at a consistent rate.

Front

What is the formula for calculating percentage?

Back

Percentage = (Part / Whole) × 100. For example, if you scored 45 out of 60 on a test, your percentage score is (45 / 60) × 100 = 75%.

Front

How do you express a total cost that includes a fixed fee and a variable cost?

Back

The total cost can be expressed as a linear equation, such as Total Cost = Fixed Fee + (Variable Cost per Unit × Number of Units).

Front

What is the difference between fixed costs and variable costs?

Back

Fixed costs do not change with the level of production or sales (e.g., rent), while variable costs change directly with the level of production or sales (e.g., materials).