Percent Change, Simple Interest, & Scale Factor

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 Change?

Back

Percent Change = ((New Value - Old Value) / Old Value) x 100.

Front

What is Simple Interest?

Back

Simple Interest is the interest calculated on the principal amount only, without compounding.

Front

What is the formula for Simple Interest?

Back

The formula is I = PRT, where I is interest, P is principal, R is rate (as a decimal), and T is time (in years).

Front

If you have a principal of $200 and an interest rate of 5% for 2 years, what is the simple interest?

Back

I = PRT = 200 x 0.05 x 2 = $20.

Front

What does 'P' represent in the Simple Interest formula I = PRT?

Back

'P' represents the Principal amount, which is the initial sum of money invested or loaned.

Front

What does 'R' represent in the Simple Interest formula I = PRT?

Back

'R' represents the Rate of interest, expressed as a decimal.

Front

What does 'T' represent in the Simple Interest formula I = PRT?

Back

'T' represents the Time in years for which the money is invested or borrowed.

Front

How do you find the total amount after applying Simple Interest?

Back

Total Amount = Principal + Interest.

Front

If a car's price increases from $15,000 to $16,500, what is the percent increase?

Back

Percent Increase = ((16,500 - 15,000) / 15,000) x 100 = 10%.