What is percent change?
Consumer Math

Flashcard
•
Mathematics
•
7th - 9th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Percent change is a measure of how much a quantity has increased or decreased relative to its original value, expressed as a percentage. It is calculated using the formula: ((New Value - Old Value) / Old Value) x 100.
2.
FLASHCARD QUESTION
Front
How do you calculate net income?
Back
Net income is calculated by subtracting all expenses (like taxes, rent, and food) from total income. It represents the amount of money available for spending or saving.
3.
FLASHCARD QUESTION
Front
What is a better deal?
Back
A better deal is determined by comparing the cost per unit of items. The option with the lower cost per unit is considered the better deal.
4.
FLASHCARD QUESTION
Front
How do you estimate a tip?
Back
To estimate a tip, round the total bill to the nearest dollar and then multiply by the tip percentage (e.g., for a 15% tip, multiply by 0.15).
5.
FLASHCARD QUESTION
Front
What is the formula for calculating a tip?
Back
Tip = Total Bill x Tip Percentage.
6.
FLASHCARD QUESTION
Front
If a meal costs $28.00 and you want to leave a 20% tip, how do you calculate the total bill?
Back
Total Bill = Meal Cost + (Meal Cost x Tip Percentage). For a $28.00 meal with a 20% tip: Total Bill = $28.00 + ($28.00 x 0.20) = $33.60.
7.
FLASHCARD QUESTION
Front
What is the cost per unit?
Back
Cost per unit is calculated by dividing the total cost by the number of units. It helps in comparing prices of different quantities.
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