Consumer Application Flashcard Review

Front

What is a tip?

Back

A tip is a small amount of money given to someone for their service, usually calculated as a percentage of the total bill.

Front

How do you calculate a percentage of a number?

Back

To calculate a percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 16% of $32.64, multiply $32.64 by 0.16.

Front

What is a proportion?

Back

A proportion is an equation that states that two ratios are equal.

Front

How do you determine if two ratios form a proportion?

Back

Cross-multiply the ratios. If the cross-products are equal, then the ratios form a proportion.

Front

What does it mean to solve for x?

Back

To solve for x means to find the value of x that makes an equation true.

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service.

Front

How do you calculate the amount of a discount?

Back

To calculate a discount, multiply the original price by the discount percentage (in decimal form) and subtract that amount from the original price.

Front

What is percent change?

Back

Percent change is a way to express the change in a quantity as a percentage of the original amount.

Front

How do you calculate percent change?

Back

Percent change = (New Value - Old Value) / Old Value x 100%.

Front

What does it mean to decrease by a percentage?

Back

To decrease by a percentage means to reduce the original amount by that percentage.