OUR Grade 7 Unit 4 Review

Front

What is the formula to calculate the sale price after a discount?

Back

Sale Price = Regular Price - (Discount Percentage × Regular Price)

Front

If a book costs $x and is on sale for 25% off, what is the sale price?

Back

Sale Price = 0.75x

Front

What is the formula to calculate the tip amount?

Back

Tip Amount = Bill Amount × Tip Percentage

Front

If a dinner costs $30 and the tip is 18%, how much is the tip?

Back

Tip = 30 × 0.18 = $5.40

Front

What is the formula to calculate percent markup?

Back

Percent Markup = ((Selling Price - Cost Price) / Cost Price) × 100

Front

If a Lego set costs $25 and is sold for $35, what is the percent markup?

Back

Percent Markup = ((35 - 25) / 25) × 100 = 40%

Front

What is the formula to calculate commission earned?

Back

Commission Earned = Total Sales × Commission Rate

Front

If Lily sells $120 in magazines and earns a 3.5% commission, how much does she earn?

Back

Commission = 120 × 0.035 = $4.20

Front

What does a 15% discount mean in terms of sale price?

Back

A 15% discount means the sale price is 85% of the original price.

Front

If the original price of an item is $45 and there is a 15% discount, what is the sale price?

Back

Sale Price = 45 - (0.15 × 45) = $38.25