Percents, Interest, Commission

Sales tax rate is the ________of an amount that is added to the cost of an item

• percent

• principal

• interest

A real estate agent receives a 5% commission on the selling price of a house. If a house sells for $200,000, how much is the commission?

• $1,000

• $5,000

• $10,000

• $20,000

If a car salesman earns a 4% commission on each car sold and sells a car for $25,000, how much commission does he earn?

• $1,000

• $100

• $10,000

• $1,000,000

Percent is based out of ______?

• 10

• 100

• 1000

• 400

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

The simple interest formula is I=Prt.  What does the t represent?

• Principle

• Interest

• Time

• Percent Rate

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50

• $26.25

• $87.5

• $262.50

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

Sam borrowed $4,500 for 2 years and had to pay $630 simple interest at the end of that time. What rate of interest did he pay?

• 6%

• 7%

• 8%

• 9%

You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?

• 88%

• 20%

• 12.5%

• 10%