Topic 3.4 - 3.6 Review

Front

What is percent error?

Back

Percent error is a measure of how inaccurate a measurement is, expressed as a percentage of the actual value. It is calculated using the formula: Percent Error = |(Measured Value - Actual Value)| / Actual Value * 100.

Front

How do you calculate the final price after a discount and tax?

Back

To calculate the final price after a discount and tax, first apply the discount to the original price, then calculate the sales tax on the discounted price, and finally add the tax to the discounted price.

Front

What is percent of change?

Back

Percent of change is a way to express the change in a quantity as a percentage of the original amount. It is calculated using the formula: Percent Change = (New Value - Original Value) / |Original Value| * 100.

Front

How do you calculate a markup percentage?

Back

Markup percentage is calculated by taking the difference between the selling price and the cost price, dividing it by the cost price, and then multiplying by 100. Formula: Markup % = (Selling Price - Cost Price) / Cost Price * 100.

Front

What is the formula for calculating the selling price after a markup?

Back

Selling Price = Cost Price + (Cost Price * Markup Percentage).

Front

If a shirt costs $10 and is on sale for 20% off, what is the sale price?

Back

Sale Price = Original Price - (Original Price * Discount Percentage) = $10 - ($10 * 0.20) = $8.

Front

What is the effect of a 10% sales tax on a discounted price?

Back

To find the final price after applying a 10% sales tax, multiply the discounted price by 1.10 (which represents the original price plus the tax).

Front

How do you determine the percent decrease from one week to the next?

Back

Percent Decrease = (Original Value - New Value) / Original Value * 100.

Front

What is the percent increase if a price goes from $100 to $120?

Back

Percent Increase = (New Price - Original Price) / Original Price * 100 = ($120 - $100) / $100 * 100 = 20%.

Front

What is the selling price of an item marked up by 900% from a cost of $28?

Back

Selling Price = Cost Price + (Cost Price * Markup Percentage) = $28 + ($28 * 9) = $280.