Math 7 (Module 2 Review)

What is the formula to calculate percent change?

• Percent Change = (New Value / Old Value) * 100

• Percent Change = ((New Value - Old Value) / |Old Value|) * 100

• Percent Change = (New Value + Old Value) / Old Value * 100

• Percent Change = (Old Value - New Value) / New Value * 100

If a shirt costs $20 and is marked up by 25%, what is the new price?

• $15

• $30

• $25

• $22

How do you calculate sales tax on a $50 purchase with a tax rate of 8%?

• $5.00

• $3.50

• $6.00

• $4.00

If a hotel charges a 10% tax on a $100 room, how much is the tax?

• $5

• $10

• $15

• $20

What is a reasonable tip percentage for good service at a restaurant?

• 5% to 10%

• No tip is necessary

• 25% to 30%

• 15% to 20%

If a $40 item is discounted by 15%, what is the sale price?

• $30

• $38

• $36

• $34

How do you calculate the interest on a $200 loan at a 5% annual interest rate for one year?

• $5

• $10

• $15

• $20

If you earn a 10% commission on a $300 sale, how much do you earn?

• $45

• $60

• $30

• $15

What is the percent error if the estimated value is 50 and the actual value is 45?

• 15%

• 20%

• 5%

• 11.11%

If a product is marked up from $30 to $45, what is the percent markup?

• 25%

• 50%

• 40%

• 75%