Percents & Interest Test Review

Terrance and Teresa both work for a book store. Terrance earns $450 per week. Teresa earns $300 per week plus a 6% commission on the total sales of books she sells. In one week, if Teresa sells $2000 worth of books, who will make more money and by how much?

• Teresa will make $120 more than Terrance.

• Terrance will make $150 more than Teresa.

• Teresa will make $420 more than Teresa.

• Terrance will make $30 more than Teresa.

Tim's family needs a set of 4 tires. Tires cost $163.99 each. Which is the best deal for Tim's family?

• Buy 3, get 1 free

• 20% off

• $150 off

Randall purchased a flat screen TV for $1089. The tax rate was 8.75%. Which of the following is the best estimate of the amount of tax he will pay on his purchase?

• $80

• $900

• $8.75

• $95

A restaurant charges a mandatory 15% tip for parties containing more than 6 people. A party of 10 people was charged $52.50 as a tip. Which of the following is the amount of the bill?

• $315

• $350

• $525

• $400

Eugene wants to buy jeans at a store that is giving $10 of everything. The tag on the jeans is marked 50% off. The original price is $49.98. Find the total cost if the 50% discount is applied before the $10 discount.

• $14.99

• $19.99

Eugene wants to buy jeans at a store that is giving $10 of everything. The tag on the jeans is marked 50% off. The original price is $49.98. Find the total cost if the $10 discount is applied before the 50% discount.

• $14.99

• $19.99

Brian borrows $7,400 from Ed, who charges him 12% simple interest each year. How much will Brian pay Ed, if he repays after 5 years?

• $11,840

• $4,440

• $451,400

• $444,000

Shane deposits $500 in an account that earns 7.4% interest compounded annually. What is the equation to figure out the balance in the account after 3 years?

• A=500(1+0.074)³

• A=500(1+7.4)³

• A=500(1+3)^7.4

Ethan gets a loan for $1,750. The loan has an interest rate of 4% compounded annually. What is the equation to find the balance on the loan after 6 years?

• A=1,750(1+6)⁴

• A=1,750(1+0.04)⁶

• A=1,750(1+0.4)⁶

• A=1,750(1+0.6)⁴

Justin wants to buy a laptop computer that costs $580. He takes a loan from the electronics store that charges him 14.5% simple interest per year. What is the balance of the loan after 2 years?

• $168.20

• $16,820

• $17,400

• $748.20