Lesson 5 - Percent Increase and Decrease Question Sets #1-#5

Front

What is percent increase?

Back

Percent increase is a measure of how much a quantity has grown relative to its original amount, expressed as a percentage. It is calculated using the formula: ((New Value - Original Value) / Original Value) * 100.

Front

What is percent decrease?

Back

Percent decrease is a measure of how much a quantity has shrunk relative to its original amount, expressed as a percentage. It is calculated using the formula: ((Original Value - New Value) / Original Value) * 100.

Front

How do you calculate the new price after a percent increase?

Back

To calculate the new price after a percent increase, multiply the original price by the percent increase (as a decimal) and add that to the original price. Formula: New Price = Original Price + (Original Price * Percent Increase).

Front

How do you calculate the new price after a percent decrease?

Back

To calculate the new price after a percent decrease, multiply the original price by the percent decrease (as a decimal) and subtract that from the original price. Formula: New Price = Original Price - (Original Price * Percent Decrease).

Front

What is the formula to find the final price after applying sales tax?

Back

Final Price = Price After Discount + (Price After Discount * Sales Tax Rate).

Front

If a product costs $50 and is marked down by 20%, what is the sale price?

Back

Sale Price = $50 - ($50 * 0.20) = $40.

Front

If a product is originally priced at $30 and is increased by 15%, what is the new price?

Back

New Price = $30 + ($30 * 0.15) = $34.50.

Front

What is the effect of a 50% decrease followed by a 300% increase on a number?

Back

If a number is decreased by 50%, it becomes half. A 300% increase on that half means it becomes four times the original number.

Front

How do you find the percentage of the original number in relation to the final number?

Back

Percentage = (Original Number / Final Number) * 100.

Front

What is the significance of rounding in financial calculations?

Back

Rounding is important in financial calculations to ensure that amounts are presented in a standard format, typically to the nearest cent, which is crucial for accuracy in transactions.