Consumer Math Review

Front

What is the formula to calculate the original price of an item after a discount?

Back

Original Price = Sale Price / (1 - Discount Rate)

Front

If a meal costs $32.85 and you want to leave a 20% tip, how do you calculate the tip amount?

Back

Tip Amount = Meal Cost x Tip Percentage

Front

What does it mean when a price is marked down by a certain percentage?

Back

It means the item is being sold for less than its original price by that percentage.

Front

How do you find the unit rate from a given distance and gallons of gas?

Back

Unit Rate = Distance / Gallons

Front

What is the equation to represent distance traveled in terms of gallons of gas used?

Back

y = (Distance / Gallons) * x

Front

If a hat costs $36 and is marked down by 25%, how do you find the original price?

Back

Original Price = Sale Price / (1 - Discount Rate) = $36 / (1 - 0.25) = $48

Front

What is the meaning of 'gratuity' in the context of dining?

Back

Gratuity refers to the amount of money given to service staff as a thank you for their service, typically a percentage of the total bill.

Front

How do you convert a percentage to a decimal for calculations?

Back

Divide the percentage by 100 (e.g., 20% = 0.20).

Front

What is the relationship between distance, rate, and time in consumer math?

Back

Distance = Rate x Time.

Front

If a scooter is marked down by 95%, how much do you pay for it?

Back

You pay 5% of the original price.