Topic 3 - Analyze and Solve Percent Problems (Fast and Curious)

Front

What is a Savings Account?

Back

A type of bank account where you can deposit money and earn interest on your balance.

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What is a Tip?

Back

A calculated amount of extra money given as a percentage of a total bill.

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What is Commission?

Back

A percentage of the total sales amount that a salesperson or agent earns for selling a product or service.

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What is an Interest Rate?

Back

The percentage charged by a lender to a borrower for the use of money, or the percentage earned by an investor on their savings or investments.

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What is Percent?

Back

A way of representing a part of a whole as a number out of 100.

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How do you calculate a percentage of a number?

Back

Multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 x 0.20 = 10.

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What is the formula for calculating Simple Interest?

Back

Simple Interest = Principal x Rate x Time.

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What does it mean to find the Sale Price?

Back

The Sale Price is the original price minus any discounts, often expressed as a percentage off the original price.

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What is the difference between Original Price and Sale Price?

Back

The Original Price is the initial price of an item before any discounts, while the Sale Price is the price after discounts are applied.

Front

What is a Tax?

Back

A percentage added to the price of goods or services, collected by the government.