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

Front

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

Back

Interest

Front

How is a part of a whole represented as a number out of 100?

Back

Percent

Front

What is the method to calculate the interest earned or paid on a principal amount over time at a fixed interest rate?

Back

Simple Interest

Front

What is the original amount of money borrowed or invested, upon which interest is calculated?

Back

Principal

Front

What do we call the reduced price of an item after a discount has been applied?

Back

Sale Price

Front

What is the formula for calculating Simple Interest?

Back

Simple Interest = Principal × Rate × Time

Front

What does 'Principal' refer to in finance?

Back

The initial amount of money borrowed or invested.

Front

What is the difference between 'Interest' and 'Principal'?

Back

Interest is the cost of borrowing money, while Principal is the original amount borrowed.

Front

How do you calculate the percent of a number?

Back

Percent = (Part/Whole) × 100

Front

What is a 'Discount'?

Back

A reduction in the original price of an item.