Understanding Discounts and Percentages

The video tutorial explains how to calculate the final price of a bike that is 70% off its retail price of $540. The instructor first determines the percentage of the price to be paid, which is 30%. Then, using the formula 'is over of equals percent over 100', the instructor calculates 30% of $540, resulting in a final price of $162 for the bike.

What is the first step in determining the sale price of the bike?

• Subtract 70% from 100%

• Divide the retail price by 70%

• Add 70% to the retail price

• Multiply the retail price by 70%

Which formula is used to calculate the percentage of the price to be paid?

• is over of equals percent over 100

• of equals is times percent over 100

• percent equals is over of times 100

• is equals percent times of over 100

In the equation 'is over of equals percent over 100', what does 'of' represent in this problem?

• The discount percentage

• The amount saved

• The final price of the bike

• The original price of the bike

What is the result of cross-multiplying 540 and 30 in the equation?

• 16,200

• 1,620

• 162

• 54

What is the final price of the bike after applying the discount?

• $540

• $54

• $162

• $378