What is a discount?
Unit 6 Test Review: Consumer Math

Flashcard
•
Mathematics
•
KG - University
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
A discount is a reduction in the price of an item, usually expressed as a percentage of the original price.
2.
FLASHCARD QUESTION
Front
How do you calculate the final price after a discount?
Back
To calculate the final price after a discount, subtract the discount amount from the original price. Discount amount = Original Price x Discount Rate.
3.
FLASHCARD QUESTION
Front
What is a percent increase?
Back
A percent increase is the amount of increase expressed as a percentage of the original amount.
4.
FLASHCARD QUESTION
Front
How do you calculate percent increase?
Back
Percent Increase = (New Price - Original Price) / Original Price x 100%.
5.
FLASHCARD QUESTION
Front
What is a service charge?
Back
A service charge is an additional fee added to the cost of a product or service, often expressed as a percentage.
6.
FLASHCARD QUESTION
Front
How do you calculate the total cost including a service charge?
Back
Total Cost = Original Price + (Original Price x Service Charge Rate).
7.
FLASHCARD QUESTION
Front
What does it mean to borrow money?
Back
To borrow money means to take money from someone with the agreement to pay it back later.
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