Simple Interest — Unit test Answers

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A store is marking down the price of a television 25 percent from the original price of $250. Which expression can be used to find the marked down price?

250 dollars minus (0.25) (250)

250 dollars + (0.25) (250)

250 dollars minus (25) (250)

250 dollars + (25) (250)

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A $120 wagon is on sale for 15 percent off. What is the sale price of the wagon?

$18

$102

$105

$108

A frozen dinner at a grocery store is purchased for $2.20 wholesale and is marked up by 40 percent. A customer wants to buy four frozen dinners. How much will the customer pay, including paying 9 percent sales tax? Round your answer to the nearest cent.

$8.80

$10.07

$13.43

$14.39

Renee used the values in the table to calculate simple interest. Principal$750Interest rate?Time11 yearsInterest$412.50Which interest rate is missing from Renee’s table?

0.05%

0.5%

50%

Which of the purchases would be the least expensive?PurchaseAmount of sale Sales tax rateA$1505%B$1457%C$1408%D$1359%

purchase A

purchase B

purchase C

purchase D

The office manager of First Tech Support borrowed $25,000 to purchase new computers for employees. The bank charges 6 percent interest for 4 years. How much interest will the company pay in all?

$1,200

$1,500

$4,800

$6,000

Antoine and Tess have a disagreement over how to compute a 15% gratuity on $46.00. Tess says, “It is easy to find 10% of 46 by moving the decimal point one place to the left to get $4.60. Do that twice. Then add the two amounts to get for the 15% gratuity.”How should Antoine respond to Tess’s method?

“Tess, the best way to find 15% of $46.00 is to multiply by $46.00 to get $3.07, which is the 15% gratuity.”

“Tess, you found 20% of the number because you added 10% and 10%. You need to add 10% to of 10%. Add $4.60 and $2.30 to get $6.90, which is the 15% gratuity.”

“Tess, the best way to find 15% of $46.00 is to multiply 0.015 and 46.00 to get $0.69, which is the 15% gratuity.”

“Tess, you should use a table with 5% segments to find the gratuity. Each 5% segment has a value of $9.20, so that is the 15% gratuity.”

Gregory sees an $80.00 jacket on sale at 30% off. How much will it cost after a 7% sales tax is applied?

$56.00

$59.92

$64.00

$67.43

Jack works at a sporting goods store and makes a commission of 20 percent. His sales for each week are shown below. How much did Jack make in total in commission during all four weeks?WeekSales1$3,0002$2,5003$3,5004$4,000

$200.00

$260.00

$2,000.00

$2,600.00

Which term is a word for an initial amount of money that is borrowed or invested?

time

principal

interest

interest rate

Luca is planning to pay the restaurant bill for his coworkers. The bill was $193.75. A 4% tax was then added by the waiter. If Luca wants to leave a 16% tip on the total amount including the tax, how much should Luca pay?

$201.50

$217.50

$224.75

$233.74

After 3 years, a $1,500 investment is worth $1,680. What is the interest rate on the investment?

0.04 percent

2.0 percent

4.0 percent

37.3 percent

Mrs. Garcia’s students were asked to find 220% of 75. Each of the students had a different method.Amy: “I multiplied 2.20 by 75 to find my answer.”Braden: “I created a table with columns for 100%, 100%, 20%, and 220%. Then I filled in the table and added the values.”Colton: “I created a table with columns for 100%, 10%, 10%, and 220%. Then I filled in the table and added the values.”Danielle: “I divided 75 by 5 to find 20%. Then I added 75 twice to what I found to get my final answer.” If all of the students completed their steps accurately, which student got the answer wrong?

Amy

Braden

Colton

Danielle

A frame is marked down by 22 percent from an original price of $14.50. What is the new price?

$3.19

$11.31

$13.72

$14.28

Zenaida is shopping and wants to purchase a $320 stereo system. The store is offering an incentive of 10 to 30 percent off when you spin the discount wheel. Zenaida spins the wheel and receives 20 percent off. How much will the stereo system cost?

$32

$64

$256

$288

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Simple Interest — Unit test Answers

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