Percent Change Review

Front

What is percent change?

Back

Percent change is a way to express a change in a quantity as a percentage of the original amount. It is calculated using the formula: ((New Value - Old Value) / Old Value) x 100.

Front

How do you calculate a markup price?

Back

To calculate the markup price, use the formula: Markup Price = Cost Price + (Cost Price x Markup Percentage).

Front

If an item costs $50 and has a 20% markup, what is the retail price?

Back

Retail Price = $50 + ($50 x 0.20) = $60.

Front

What does a discount mean?

Back

A discount is a reduction in the original price of an item, often expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price x Discount Percentage).

Front

If a shirt originally costs $40 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $40 - ($40 x 0.25) = $30.

Front

What is the formula for calculating percent decrease?

Back

Percent Decrease = ((Old Value - New Value) / Old Value) x 100.

Front

If you scored 80 points on a test and then scored 70 points on the next test, what is the percent decrease in your score?

Back

Percent Decrease = ((80 - 70) / 80) x 100 = 12.5%.

Front

What is sales tax?

Back

Sales tax is a percentage added to the price of goods and services, collected by the seller and paid to the government.

Front

How do you calculate the total cost including sales tax?

Back

Total Cost = Original Price + (Original Price x Sales Tax Rate).