M7 U4 End Unit Review

Front

What is the formula to calculate the percentage increase?

Back

Percentage Increase = \frac{(New Value - Old Value)}{Old Value} \times 100

Front

If Jerry scored 80 points and then 96 points, what is the percentage increase in his score?

Back

20%

Front

What is the formula to calculate profit margin?

Back

Profit Margin = \frac{(Selling Price - Cost Price)}{Cost Price} \times 100

Front

If a widget costs $5.30 to build and is marked up for a 40% profit, how much should it be marked up?

Back

$2.12

Front

What is a discount?

Back

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

Front

If a basketball originally costs $8 and has a 25% discount, what is the sale price before tax?

Back

$6.00

Front

What is the formula to calculate total cost after tax?

Back

Total Cost = Sale Price + (Sale Price \times Tax Rate)

Front

If Peter paid 9% sales tax on a $6 basketball, how much tax did he pay?

Back

$0.54

Front

What is simple interest?

Back

Simple Interest = Principal \times Rate \times Time

Front

If Jack borrowed $15,500 at 4% interest for 8 years, how much interest does he pay?

Back

$4,960