3.27 McManus 7.AR.3.1

Front

What is the decimal equivalent of 55.5%?

Back

0.555

Front

How do you convert a percentage to a fraction?

Back

Divide the percentage by 100 and simplify if possible.

Front

What is the formula to calculate the selling price after a markup?

Back

Selling Price = Cost Price + (Markup Percentage × Cost Price)

Front

If a store sells an item for $193.21 with an 87% markup, how do you find the original price?

Back

Original Price = Selling Price / (1 + Markup Percentage) = $193.21 / 1.87 = $103 (rounded to nearest dollar).

Front

What is the total cost including tax if a meal costs $25.30 and the tax rate is 8%?

Back

Total Cost = Meal Cost + (Tax Rate × Meal Cost) = $25.30 + (0.08 × $25.30) = $27.32.

Front

How do you calculate the amount saved during a sale?

Back

Amount Saved = Original Price × Discount Percentage.

Front

If a video game costs $39.99 and is on sale for 20% off, what is the sale price?

Back

Sale Price = Original Price - Amount Saved = $39.99 - ($39.99 × 0.20) = $31.99.

Front

What is the formula to calculate the total bill including tax?

Back

Total Bill = Cost + (Tax Rate × Cost).

Front

What does it mean to round to the nearest cent?

Back

Adjusting a monetary amount to two decimal places, where the second decimal is either rounded up or down based on the third decimal.

Front

What is a markup?

Back

A markup is the amount added to the cost price of goods to cover overhead and profit.