Tips & Taxes
Carly buy herself a new car for $18,594.99.The sales tax is 7%, so how much did it cost her in all?
$19,896.64
Fred expected to get 80 points on his quiz, but he did better than he thought he would, and got 87 points. What was his percent error? Round to the nearest whole percent.
8%
What is the equation for percent error?
(estimated - actual/actual) x 100
*remember NO negatives
To cover the cost of your college textbooks, the school offers a loan of $250 at an interest rate of 12%. The term length of the loan is for 1 year, how much would it cost to pay the loan off?
$280
Jim went to the store to try and increase his baseball card collection. If he starts with 95 cards and increases his collection by 13%, how many cards does he have now? (Round to the nearest whole number)
107 cards
Jill decides to buy her friend some food to surprise her for lunch. She orders some takeout from her favorite restaurant. The bill is $23.15. She decides to leave a 10% tip because the takeout worker did a great job and should still get something extra. How much does the lunch cost Jill including tip?
$25.47
Mr. Johnson thought he would have 32 students in his class, but 2 had to transfer to another class, so he had 30 students. What was his percent error? Round to the nearest whole percent.
7%
What is the equation for finding the total amount of money in an investment or loan over time. (original + interest)
A = P(1+rt)
P=original amount
r=rate
t=time
A=actual/final amount
How much money would you have after 7 years if you invested $12,000 at 2% compounded annually?
$13,784.23
Leah needs to go buy her kids some school supplies and spotted an ad that said they marked down their school supply items by 30%. As she goes around the store she calculates that the original cost for her items is $184, but once marked down, how much will it cost?
$128.80
It’s Black Friday which means a lot of people will be buying TVs. The best one available cost $678, but since there is a 7% sales tax, what is the total cost of buying that TV?
$725.46
Rick is a car salesman and is paid off of a commission rate of 12%. If he sells $120,000 worth of cars, how much money will he make?
$14,400
How do we find percent increase (markups/tips/fees) or percent decrease?
OPTION #1: (original amount x percent rate) +/- original amount
OPTION #2: (100 +/- percent rate) x original amount
How much money will you have in 8 years if you invest $4000 at 3.5% compounded annually?
$5,267.24
Summer is here and all of the swimsuits at the local surf shop are marked up 35%. If the one you wanted was originally $42, how much would it cost now?
Mr. Jackson took his family out to dinner to celebrate a birthday. The bill for their meal was $56.34. If the sales tax for their state is 7.5% and he would like to leave a 18% tip, what is the total cost of their meal?
$70.71
Cassandra works for a base salary of $20,000 per year plus 13% of her sales. If she sold $150,560 worth of merchandise how much did she make for the year?
$39,572.80
What is the equation for calculating compound interest?
A = P(1+r)t
P=original amount
r=rate
t=time
A=actual/final amount
In order to buy a car, you take out a car loan of $15,000 at an interest rate of 5%. If the terms of your loan are for 60 months, what is the total cost of borrowing the money?
$18,750
Mrs. Rodriguez was told that her class size would be decreasing with new teachers being hired. If last year she has 32 students and was told that her class would reduce by 8%, how many students would she have this year? (Round to the nearest whole number)
29 students
Your family takes you out to dinner for your birthday and receive the bill of $54.35. Your server was amazing, and your parents decided to leave a 20% tip. What is the total amount your family spends for food and tip?
$65.22
An appliance repair man came to your house to quote you for service. His rates for labor are 22% of the cost of the parts. If the parts cost $124, how much is the total cost of the repair?
$151.28
What is the equation for finding simple interest?
i = Prt
P=original amount
r=rate
t=time
i = interest
Nicole invests a sum of money in a savings account with a fixed annual interest rate of 4.61% compounded annually. After 6 years, the balance reaches $5,485.85. What was the amount of the initial investment? (Round your answer to the nearest whole dollar)
$4,186.05
While shopping for a new hoodie you see that there is a small hole in the sleeve. Since it’s the only one in your size, you decide to buy it anyways. At the register the cashier says that because of the small hole he can mark it down by 15%. If the hoodie was originally $48, how much does it cost now?
$40.80