Percent unit review Georgia

Front

What is the formula to calculate the discount rate?

Back

Discount Rate = (Discount Amount / Original Price) x 100

Front

What does a discount mean in terms of pricing?

Back

A discount is a reduction in the original price of an item.

Front

If an item originally costs $100 and is sold for $80, what is the discount amount?

Back

$20

Front

What is simple interest?

Back

Simple interest is calculated only on the principal amount, not on the interest accrued.

Front

How do you calculate simple interest?

Back

Simple Interest = Principal x Rate x Time

Front

What is the principal in a financial context?

Back

The principal is the initial amount of money invested or borrowed.

Front

What is a commission in sales?

Back

A commission is a fee paid to a salesperson for their services, usually a percentage of the sale.

Front

If a salesperson earns a 10% commission on a $200 sale, how much do they earn?

Back

$20

Front

What is the difference between a discount and a rebate?

Back

A discount is taken off the price at the time of purchase, while a rebate is a refund given after the purchase.

Front

What is the percent decrease formula?

Back

Percent Decrease = ((Original Price - New Price) / Original Price) x 100