March 22nd Percent Change - 7th Grade

Front

What is percent change?

Back

Percent change is a way to express a change in value as a percentage of the original value. It is calculated using the formula: ((new value - old value) / old value) x 100.

Front

How do you calculate a tip as a percentage?

Back

To calculate a tip as a percentage, multiply the total bill by the tip percentage (in decimal form). For example, for a $28 bill and a 20% tip: $28 x 0.20 = $5.60. Total bill = $28 + $5.60 = $33.60.

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service, often expressed as a percentage. For example, a 25% discount on a $100 item means you save $25.

Front

How do you find the sale price after a discount?

Back

To find the sale price after a discount, subtract the discount amount from the original price. For example, if an item costs $100 and has a 20% discount, the discount is $20, so the sale price is $100 - $20 = $80.

Front

What is a markup?

Back

A markup is an increase in the price of a product, usually expressed as a percentage of the cost price. For example, if a product costs $10 and has a 20% markup, the selling price is $10 + ($10 x 0.20) = $12.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the purchase price by the sales tax rate (in decimal form). For example, for a $150 jacket with a 7% sales tax: $150 x 0.07 = $10.50.

Front

What is the formula for percent decrease?

Back

The formula for percent decrease is: ((old value - new value) / old value) x 100.

Front

How do you calculate the percent of decrease?

Back

To calculate the percent of decrease, subtract the new value from the old value, divide by the old value, and multiply by 100. For example, if a shirt goes from $36 to $24: ((36 - 24) / 36) x 100 = 33%.

Front

What does it mean to round to the nearest cent?

Back

Rounding to the nearest cent means adjusting a monetary amount to the closest hundredth place. For example, $1.245 rounded to the nearest cent is $1.25.

Front

What is the total cost including tip?

Back

The total cost including tip is calculated by adding the tip amount to the original bill. For example, if the bill is $28 and the tip is $5.60, the total cost is $28 + $5.60 = $33.60.