Topic 3 - Analyze and Solve Percent Problems (Fast and Curious)

Front

What is the true or real value of a number, quantity, or expression, without any modifications?

Back

Actual Value

Front

What do we call a fraction or a percentage representing a portion of a larger quantity?

Back

Part

Front

What is the term for the percentage increase in the price of an item from its original cost to its selling price?

Back

Percent Mark-up

Front

What is the amount of money earned or paid for the use of money called?

Back

Interest

Front

What do we call the increase or decrease in a value expressed as a percentage of the original value?

Back

Percent Change

Front

What is the formula to calculate percent change?

Back

(New Value - Original Value) / Original Value x 100%

Front

What is the term for the original amount of money before interest is applied?

Back

Principal

Front

What do we call the amount added to the principal in a loan or investment?

Back

Interest

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal, while compound interest is calculated on the principal plus any interest earned.

Front

How do you convert a fraction to a percentage?

Back

Multiply the fraction by 100.