Advanced Percents Quiz #1 Review

Which of the following formulas calculates Simple Interest?

• Part = Percent * Whole

• Principal * Rate * Time

Pg 35 #1 : You are starting your own small business in Albuquerque. You borrow $10,000 from the bank at a 9% rate for 5 years. Find the interest that you will pay on this loan.

• $4,500

• $1,250

• $160

• $900

Pg 36 #5 : What will the balance of an investment of $5,000 be if it has an annual interest rate of 7% and is invested for 20 years?

• $7,000

• $12,000

• $700,000

• $705,000

Pg 35 #3 : If I put $5,000 into my savings account and earned 5% yearly interest. How much interest would I have after 60 months?

• $1,500,000

• $15,000

• $1,250

• $4,500

Jason invested $12,500 into a savings account that has an annual interest rate of 12.5%. If he earned $9,375 in interest, how long was his money invested for?

• 3 years

• 6 years

• 8 years

• 11 years

Which of the following formulas calculates Percent Error?

• Part = Percent * Whole

• Principal * Rate * Time

Pg 36 #8 : An experimental measurement was taken of 10.4 mL and the actual measurement was 9.7 mL. What is the percent error?

• 0.7%

• 6.7%

• 7.2%

• 2.07%

Pg 37 #11 : Sabrina calculates the cost of a book as $35. The actual price was $42. What is Sabrina's percent error?

• 7%

• 20%

• 16.7%

• 54.5%

Pg 36 #10: Marcus estimates that 230 people will attend the choir concert. The actual total that attended was 300 people. Different question...what is his absolute error? Round to the nearest whole, if necessary.

Which of the following formulas can be used to calculate discounts and markups? (There may be more than one answer)

• Part = Percent * Whole

• Principal * Rate * Time