Simple Interest
What is the formula for simple interest?
I = prt
What is sales tax?
A cost added to a product or payment.
What is a markup?
A cost added to a price
What is a gratuity?
tip (a percent of a service)
How do you find a percent increase?
If you invest $500 at a 5% interest rate for 3 years, how much interest will you earn?
$75
If an item costs $200 and the sales tax rate is 8%, what is the total cost?
$216
If a shirt costs $20 and is marked up by 25%, what is the new price?
$25
If you leave a 15% tip on a $60 meal, how much is the tip?
$9
If a book was originally $15 and is now $18 , what is the percent increase?
20%
Calculate the time it would take to earn $60 interest on $400 at a rate of 5%.
3 years
Calculate the sales tax on a $350 purchase with a 7% tax rate.
$24.50
A jacket originally costs $80 but is marked down by 30%. What is the sale price?
$56
Calculate the total amount if you receive a 20% commission on sales worth $1,000 make a base pay of $1,700.
$1,900
A store has a 20% decrease in price from $50. What is the new price?
$40
A loan of $800 at a 6% interest rate for 2 years, what is the total interest paid?
$96
An item costs $150 before tax. If the tax rate is 9%, what is the final price?
$163.50
If a laptop is sold for $1,020 after a 15% markdown, what was the original price?
$1,200
If a waiter receives $50 in tips from a total bill of $400, what percent gratuity is that?
12.5%
Calculate the percent decrease if a tablet is now $250 from an original price of $300.
16.7%
If you want to earn $100 interest in 4 years, how much should you invest at a 5% interest rate?
$500
If you buy a car for $20,000 and pay $1,200 in tax, what is the tax rate?
6%
If an item is bought for $50 and sold for $75 , what is the percent markup?
50%
A real estate agent earns a 3% commission on a house sold for $300,000. How much is the commission?
$9,000
A scientist estimated a quantity of 200 grams, but it was actually 180 grams. What is the percent error?
11.1%