Percent Application Flashcard

Front

What is a percent?

Back

A percent is a way of expressing a number as a fraction of 100. It is denoted by the symbol '%'. For example, 30% means 30 out of 100.

Front

How do you calculate the percentage of a number?

Back

To calculate the percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 x 0.20 = 10.

Front

What is the formula to find the total cost after tax?

Back

Total Cost = Original Price + (Original Price x Tax Rate). For example, if an item costs $100 and the tax rate is 5%, Total Cost = $100 + ($100 x 0.05) = $105.

Front

How do you calculate a tip based on a restaurant bill?

Back

To calculate a tip, multiply the total bill by the tip percentage (in decimal form). For example, for a $50 bill with a 15% tip, calculate $50 x 0.15 = $7.50.

Front

What does it mean to apply a discount?

Back

Applying a discount means reducing the original price of an item by a certain percentage. For example, a 20% discount on a $50 item means you save $10, making the new price $40.

Front

How do you find the final price after applying a discount?

Back

Final Price = Original Price - (Original Price x Discount Rate). For example, for a $100 item with a 25% discount, Final Price = $100 - ($100 x 0.25) = $75.

Front

What is the difference between gross income and net income?

Back

Gross income is the total income earned before any deductions (like taxes), while net income is the amount left after deductions. For example, if you earn $12,000 and pay $3,600 in taxes, your net income is $12,000 - $3,600 = $8,400.

Front

How do you calculate the total bill including tip?

Back

Total Bill = Meal Cost + Tip Amount. For example, if a meal costs $28 and you leave a 20% tip, Total Bill = $28 + ($28 x 0.20) = $33.60.

Front

What is a coupon discount?

Back

A coupon discount is a reduction in price offered by a retailer, usually expressed as a percentage off the original price. For example, a 30% coupon on a $30 item saves you $9.

Front

How do you calculate the amount saved with a coupon?

Back

Amount Saved = Original Price x Coupon Discount Rate. For example, for a $50 item with a 10% coupon, Amount Saved = $50 x 0.10 = $5.