Unit 6 Test Review: Consumer Math

Front

What is 5% of a number?

Back

To find 5% of a number, multiply the number by 0.05.

Front

If a laptop costs $660 and is on sale for 20% off, how do you calculate the sale price?

Back

To calculate the sale price, multiply the original price by 0.20 to find the discount, then subtract the discount from the original price.

Front

What does a 300% price increase mean?

Back

A 300% price increase means the new price is four times the original price.

Front

How do you calculate percent increase?

Back

Percent increase = (New Price - Original Price) / Original Price x 100%.

Front

What is a coupon for 30% off?

Back

A coupon for 30% off reduces the price by 30% of the original price.

Front

How do you find the amount you need to borrow?

Back

Subtract the amount saved from the total cost to find the amount needed to borrow.

Front

What is the formula to find the final cost after a markup?

Back

Final Cost = Original Cost + (Markup Percentage x Original Cost).

Front

What is the meaning of 'markup'?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit.

Front

How do you calculate the new price after applying a discount?

Back

New Price = Original Price - (Discount Percentage x Original Price).

Front

What is the total cost of an item after a 300% increase from $500?

Back

Total Cost = $500 + (3 x $500) = $2000.