Unit 3B: Percent Summative Retake

Front

What is the formula for calculating simple interest?

Back

I = prt, where I is interest, p is principal, r is rate (as a decimal), and t is time (in years).

Front

If you borrow $2,000 at a 12% annual interest rate for 6 months, how much interest do you pay?

Back

$120

Front

How do you calculate a tip based on a restaurant bill?

Back

Multiply the total bill by the tip percentage (as a decimal). For example, a 20% tip on a $52.37 bill is $52.37 * 0.20 = $10.47.

Front

What is the total cost of a $52.37 meal with a 20% tip?

Back

$62.84

Front

How do you calculate sales tax on a purchase?

Back

Multiply the purchase price by the sales tax rate (as a decimal).

Front

If a meal costs $20 and the sales tax is 9%, what is the total cost before tip?

Back

$20 + ($20 * 0.09) = $21.80.

Front

How do you calculate the total cost including tip after tax?

Back

Add the sales tax to the meal cost, then calculate the tip based on the new total.

Front

What is the total cost of a $20 meal with 9% sales tax and a 20% tip?

Back

$26.16

Front

What is a discount?

Back

A reduction in the price of an item, usually expressed as a percentage.

Front

If a baseball bat costs $28 and there is a 25% discount, what is the final price?

Back

$21.