Rates, Ratios, Percents, and Simple Interest

Front

What is a ratio?

Back

A ratio is a comparison of two quantities, showing how many times one value contains or is contained within the other.

Front

How do you calculate a percent?

Back

To calculate a percent, divide the part by the whole and then multiply by 100. For example, (part/whole) x 100.

Front

What is the formula for simple interest?

Back

Simple Interest = Principal x Rate x Time.

Front

If you invest $1,000 at a 5% annual interest rate, how much interest will you earn in one year?

Back

$50.

Front

What is a rate in terms of finance?

Back

A rate is a percentage that represents the cost of borrowing money or the return on investment.

Front

How do you convert a fraction to a percent?

Back

To convert a fraction to a percent, divide the numerator by the denominator and multiply by 100.

Front

What is the relationship between ratios and proportions?

Back

A proportion states that two ratios are equal. For example, if a/b = c/d, then a:b is proportional to c:d.

Front

If a recipe requires 3 cups of flour for 4 servings, how much flour is needed for 10 servings?

Back

7.5 cups.

Front

What is the percent decrease if an item originally costs $50 and is now $30?

Back

40% decrease.

Front

How do you find the total amount after one year with simple interest?

Back

Total Amount = Principal + Simple Interest.