Consumer Mathematics

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Rate)

Front

If an item costs $100 and is on sale for 25% off, how much do you pay?

Back

You pay $75.

Front

What is simple interest?

Back

Simple interest is calculated using the formula: I = P × r × t, where I is interest, P is principal, r is rate, and t is time.

Front

How much interest will Lisa pay if she loans $4,000 at 3% for 5 years?

Back

Lisa will pay $600 in interest.

Front

What is the total amount in a savings account after 2.5 years if $750 is deposited at a 3% simple interest rate?

Back

The total amount will be $806.25.

Front

What is the formula to calculate the tip amount?

Back

Tip Amount = Bill Amount × Tip Rate.

Front

If a dinner bill is $63.90 and you tip 20%, what is the total amount?

Back

The total amount is $76.68.

Front

How do you calculate the amount saved during a sale?

Back

Amount Saved = Original Price × Discount Rate.

Front

If running shoes originally priced at $70 are on sale for 20% off, how much do you save?

Back

You save $14.00.

Front

What is the definition of a discount?

Back

A discount is a reduction in the original price of a product or service.