Pers Fin Flashcard 1 (Week 2), Percentages

Front

What is the formula to calculate a percentage of a number?

Back

Percentage = (Part / Whole) x 100

Front

How do you calculate the tip amount based on a percentage?

Back

Tip Amount = Bill Amount x (Tip Percentage / 100)

Front

If a bill is $55 and the tip is 18%, how much is the tip?

Back

$9.90

Front

What is the formula for calculating the future value of an investment with simple interest?

Back

Future Value = Principal + (Principal x Rate x Time)

Front

If you invest $1000 at 5% interest for 2 years, what is the total amount?

Back

$1102.50

Front

How do you find what percentage one number is of another?

Back

Percentage = (Part / Whole) x 100

Front

If 45 is 18% of what number, how do you find that number?

Back

Number = Part / (Percentage / 100) = 45 / (18 / 100) = 250

Front

What is the formula to calculate the share of profits based on a percentage?

Back

Share = Total Profits x (Percentage / 100)

Front

If a store made $85,000 in profit and you receive 16%, how much do you get?

Back

$13,600

Front

What is the percentage increase if a value goes from 65 to 78?

Back

Percentage Increase = ((New Value - Old Value) / Old Value) x 100 = ((78 - 65) / 65) x 100 = 20%