Percent Change and Percent Error

Front

What is percent change?

Back

Percent change is a measure of how much a quantity has increased or decreased relative to its original value, expressed as a percentage.

Front

How do you calculate percent change?

Back

Percent Change = ((New Value - Original Value) / Original Value) x 100.

Front

What is percent error?

Back

Percent error is a measure of how inaccurate a measurement is, compared to the true value, expressed as a percentage.

Front

How do you calculate percent error?

Back

Percent Error = (|Estimated Value - True Value| / True Value) x 100.

Front

If a product's price increases from $50 to $65, what is the percent change?

Back

Percent Change = ((65 - 50) / 50) x 100 = 30%.

Front

If a student scores 80 out of 100 on a test, what is the percent score?

Back

Percent Score = (80 / 100) x 100 = 80%.

Front

What is a simple interest rate?

Back

A simple interest rate is a fixed percentage of the principal amount that is paid as interest over a specific period.

Front

How do you calculate simple interest?

Back

Simple Interest = Principal x Rate x Time.

Front

If a person earns $200 in interest on a principal of $1000 at a rate of 5% for how long was the money invested?

Back

Time = Interest / (Principal x Rate) = 200 / (1000 x 0.05) = 4 years.

Front

What is a commission rate?

Back

A commission rate is a percentage of sales that is paid to a salesperson as compensation.