8.4 Review

​8.4 Quiz Review

Some text here about the topic of discussion

Balancing a Check Register

• A deposit is when a sum of money is added into a bank account. ex. depositing a paycheck or cash

• A withdrawal is when money is subtracted from an account. For Example: Paying for a purchase

• ​Debt- is when money is owed to someone

• ​Transfer- when money is moved from one account to another

• ​Transaction- an instance of buying or selling something

Fill in the Blanks

Multiple Choice

If a deposit is made on 5/8/15 in the amount of $36.00, what would the new balance be?

• $36.00

• $1,471.00

• $2.471.00

• $1,741.00

Try it out!

​1. decide if you need to add or subtract

​2. do the math and put update the number in the balance column

Percent Review

Percent of a Number

• With a calculator, multiply the number and the percent.

• Be sure to hit the % key or you will get the wrong answer.

​

Example:

50% of 40       ->          50%   x   40   =   20

Multiple Choice

What is 15% of 82?

• 12.3
• 123
• 1.23

Multiple Choice

What is 90% of 250?

• 245
• 225
• 255
• 244.33

Multiple Choice

What is 125% of 84 ?

• 105
• 188.5
• 473.4
• 356.7

***All of these will INCREASE your cost***

​

If you are asked to find the tax, tip or markup

• Step 1: Multiply the amount of $ with the percent

​

If you are asked to find the total cost, multiply first and then:

• Step 2: Add the tax, tip or markup to the original amount of $

Sales Tax, Tip, and Markup

​ If you are asked to find the total cost, multiply first and then: Step 2: Add the tax, tip or markup to the original amount of $

Sales Tax, Tip and Markup Example

​If you are asked to find JUST the tax, tip or markup Step 1: Multiply the amount of $ with the percent

​$500 iPhone ; 9.5% tax

​

Find JUST the tax (ONE STEP):

500 x 9.5% = $47.50

​

Find the TOTAL Cost (TWO STEPS):

500 x 9.5% = $47.50 500 + 47.50 = $547.50

Multiple Choice

 A store pays $1.50 for a bag of candy.  If the store wants to mark-up the price 60%, for how much will the store sell the bag of candy?

• $0.60
• $2.40
• $0.90
• $6.00

Multiple Choice

The Green family went to dinner and the bill was $67.45.  Mr. Green wanted to leave an 18% tip for the waiter.  How much will the waiter receive?

• $121.41
• $55.31
• $79.59
• $12.14

Multiple Choice

A store pays $32.00 for each video game. The store’s percent of mark up is 75%. Which shows the retail price of the video game?

• $60.00

• $56.00

• $24.00

• $8.00

Multiple Choice

Find the sales tax only. $199.95 ipod; 9% tax

• $ 17.99
• $ 217.95
• $18.00
• $179.90

Multiple Choice

Find the total cost.  $ 990 T.V.; 9% tax 

• $ 89.10
• $ 900.90
• $ 1,079.10
• Free

Discount/Markdown

​A discount or markdown LOWERS your cost or saves you money If you are asked to find discount or markdown

​

Step 1: Multiply the amount of $ with the percent. If you are asked to find the total, sale price or final cost:

​

Step 2: Subtract the discount/markdown from the original amount of $.

Discount/Markdown Example

​A discount or markdown LOWERS your cost or saves you money If you are asked to find discount or markdown

​

Step 1: Multiply the amount of $ with the percent. If you are asked to find the total, sale price or final cost:

​

Step 2: Subtract the discount/markdown from the original amount of $.

​$500 iPhone ; 15% discount

​

​

Find JUST the discount (ONE STEP): 500 x 15% = $75

​

​

Find the SALE PRICE (TWO STEPS: 500 x 15% = $75 500 - 75 = $425

Multiple Choice

$75 dress shirt; 20% discount

What is the sale price?

• $2.36

• $70.20

• $60.00

• $20.00

Multiple Choice

$52 tie; 50% discount

What is the sale price?

• $4.00

• $6.00

• $26.00

• $50.00

Multiple Choice

A product is originally priced at $55 and is on sale for 25% off. How much is the discount?

• $11.25

• $14

• $13.75

• $41.25

Multiple Choice

In a video store, a DVD that usually sells for $15 is marked 10% OFF that price. What is the discount?

• 1.00

• 1.50

• 16.50

• 13.50

Multiple Choice

Mr. Mankin bought a microwave that was originally priced at $225. He received a 30% discount. What is the sale price of the microwave?

• $67.50

• $195

• $157.50

• $292.50

Multiple Choice

A pair of jeans costs $34.00.  You have a coupon for 30% off the regular price. What is the new price of the jeans after you use your coupon?

• $10.20
• $23.80
• $31.00
• $44.20

Multiple Choice

A $10 shirt is on sale for 25% off the price. What is the new price of the shirt?

• $7.50

• $2.50

• $12.50

• $17.50

Simple Interest

​Formula    I = P x R x T

​P= Principal or $

R = Rate or %

T = Time ( in years)     

***If time is in months, you must divide by 12***

Multiple Choice

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Multiple Choice

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120
• $144
• $1,200
• $1,440

Multiple Choice

Convert 18 months to years. 

• 18 Years
• 1.5 Years
• .18 Years
• You cannot change it to years.

Multiple Choice

Rachel invested $2,700 in a savings account earning 7% simple interest. If she invests for 2 years, how much money will she have in total?

• $3,078

• $378

• $40,500

• $4536

Multiple Choice

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

• $480
• $3,480
• $4,800
• $7,800

Percent of Change

​Formula: (New - Old) ÷ Old x 100

​New - Amount that is most recent or closer to now

Old - Amount that is further in the past

​

If your answer is a negative, it is a decrease.

If you answer is a positive, it is an increase.

Multiple Choice

Sally went to the clearance rack at a department store and found a shirt she wanted to buy.  The shirt was $36.00 and is on sale for $24.00.  What is the percent of the decrease?

• 33%
• 67%
• 50%
• 34%

Multiple Choice

Tickets to Disney World are $100. The price is going to increase on January 1. What is the percent of change if the cost increases to a $120?

• 25%
• 18%
• 20%
• 50%

Multiple Choice

Find the percent of change.

From 24 teachers to 30 teachers.

• 25% decrease

• 25% increase

• 20% decrease

• 20% increase

Multiple Choice

Original: 80

New: 52

• 35% decrease

• 35% increase

• 28% decrease

• 28% increase

Multiple Choice

Mrs. Ciampa had 27 students in her class last year and this year she had 30 students in her math class. What is the percent of change?

• 24%
• 20%
• 11%
• 50%

Multiple Choice

Original: $350

New: $400

• 14% increase

• 25% increase

• 50% increase

• .14% increase

Multiple Choice

The average number of shirts sold in the beach shop was 285 on Saturday in the summer. As the temperature went lower, the average number of shirts decreased to 114 every Saturday. What was the percentage decrease of in the average number of shirts sold in the shop?

• 60%

• 40%

• 150%

• 171%