Tax Tip Discount Simple Interest

Unit 5 Assessment Review

Tax/Tip/Discount

• Original Amount x % (in Decimal) = Amount of Tax/Tip/Discount

• Total= Original Amount + Tax/Tip

• Total= Original - Discount

Example

Meal cost: $22.57

Tip: 25%

22.57 x .25 =5.6425

Since the first number past the penny is a 2 round to 0

The Tip is then $5.64

Total= Original cost + Tip

22.57 + 5.64 = 28.21

Multiple Choice

Sales tax is __________ to the price

• subtracted
• added
• multiplied
• divided

Fill in the Blank

Isaiah goes to a resteraunt and buys a meal that costs $113.36

He ants to be nice to his waiter so he tips him 30%. What did Isaiah end up paying?

Multiple Choice

Mrs. Ray is buying some shirts. They total to $35.50. Sales tax is 4.5%. When she goes to pay, how much will she owe?

• $1.60

• $37.10

• $40.00

• $2.50

Multiple Choice

A pair of boots are $94.99. They are 25% off. With this discount, what is the sale price? Round to nearest cent if necessary.

• $71.24

• $118.74

• 23.7475

• $23.75

Simple Interest

Multiple Choice

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% simple interest. If she spent $7400 on furniture, how much will she have paid in total after 8 years?

• $5624

• $13,024

• $56,240

• $1302.40

Multiple Choice

Emily’s parents put $1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?

• $22,275

• $2227.50

• $12,375

• $3727.50

Multiple Choice

Kermit took out a 4 year loan for $5,500. He had to pay a total of $1,870 in interest payments. What rate did he pay for his loan?

• 85%

• 5.5%

• 8.5%

• 14%

Multiple Choice

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

• 50%

• 5%

• 500%

• 7.5%

Multiple Choice

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400

Multiple Choice

Find each percent decrease. Round to the nearest percent.
From $80 to $64 

• 35%
• 10%
• 20%
• 25%

Multiple Choice

Find the percent increase. Round to the nearest percent.

From $5 to $8

• 40%

• 60%

• 55%

• 65%

Multiple Choice

Find the percent increase. Round to the nearest percent.
From $5 to $8 

• 40%
• 60%
• 55%
• 65%

Multiple Choice

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Proportionality

• A boxing coach is charging his clients 25$ every 15 minute session.

• Match the statements that are PROPORTIONAL!

Draw a chart like the following.

Multiple Select

• 50 dollar charge for 30 minutes

• 100 dollar charge for 75 minutes

• 100 dollar charge for 60 minutes

• 200 dollar charge for 120 minutes

• 75 dollar chare for 75 minutes