Simple Interest
What vocabulary word is used to describe the starting balance?
Principal
What is the difference between a markup and a markdown?
A markup is when the price of an item increases. A markdown is when the price of an item decreases.
True or False: To find the "change", you first need to use subtraction.
TRUE!
What do you call money you give to someone providing a service?
Tip or gratuity
True or False: "Is" is a key word for the part. "Of" is a key word for the whole.
TRUE!
How much interest will you earn after 1 year if you deposit $400 into a bank account with a 3% simple interest rate?
$12
What is the new price of a $400 telescope after a 32% markup?
$528
At the beginning of the year there were only 2 students with an A in Mr. McDonald's Math class. By winter break there were 8 students with an A. What was the percent increase in A's?
300%
Sierra left $4.50 as a tip for a waiter. This was 18% of the cost of the food. How much did the food cost?
$25
What is 60% of 125?
75
Ahmed bought a $540 phone on a 1 year long payment plan. His final bill was $626.40. What was Ahmed's interest rate?
16%
A computer store bought a program for $10 and sold it for $13. Find the percent markup.
30%
A town's population of children increased from 376 to 421 during the past year. What is the percent increase? Round to the nearest whole number.
About 12%
Kevin has $24 to buy a gift for his cousin. He found a gift for $22. With 5% sales tax added on, will Kevin have enough money to buy the gift? If so, how much will he pay?
Yes. The tax is $1.10. The total cost is $23.10.
12 students play the viola. They represent 20% of the orchestra. How many students are in the orchestra?
60 students
Vince borrows $900 to buy a couch. He will pay off the loan by paying 1.5% simple interest for 1 year. How much will he pay back altogether?
$913.50
A store advertises a 20% markdown on a dishwasher that normally sells for $952. What is the new price?
The new price is $761.60.
At an amusement park, there were 1,060 people during week 1. There were 848 people during week 2. What was the percent change from Week 1 to Week 2?
Week 1 - Week 2: 20% decrease
Gary wants to buy a video game that originally cost $48. It is on sale for 50% off. The sales tax in his state is 4.5%. How much will Gary pay in total?
$25.08
At a company, 758 people drive to work, 530 people take the bus, 7 people walk, and 105 people take the train. What percent of the employees walk to work?
0.5%
Amal wants to buy a PS5. The price listed on Amazon is $550 with a 12% interest rate over a year long payment plan. From Target she can get a PS5 for a total of $615 including the payment plan. Which store offers a better deal?
Target
A diamond ring that usually sells for $1,275 is on sale for $1,020. A ruby ring that normally sells for $290 is on sale for $203. Which ring has the greater percent markdown?
The diamond ring had a 20% markdown. The ruby ring had a 30% markdown. The ruby ring has a greater percent markdown.
Brianna hoped to get 100 pumpkins from her garden this year. Because of the good weather, 20% more pumpkins grew than expected. Unfortunately, animals ate 30% of the pumpkins that grew. How many pumpkins were left?
There were only 84 pumpkins left.
Jeremy bought a $60 pair of sneakers on sale for 15% off. Then he used a coupon that gave him an additional 10% off. How much did he pay for the sneakers?
$45.90
Nixon estimates that it will take him 5 hours to finish a school project. It takes him 320% of the time he estimated. How many more hours did it take him to complete the project?
16 hours - 5 hours = 11 hours more