Multiple Choice Identify the
choice that best completes the statement or answers the question.
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1.
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A bike with an original price of $120 is discounted 20%. What is the sale
price?
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2.
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A gold chain with an original price of $120 is on sale for $66. What is the
percent of the discount?
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3.
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A remote control airplane with an original price of $83 is on sale for $53.95.
What is the percent of the discount?
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4.
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After a discount of 45%, the sale price of a game system is $125.51. What is the
original price?
a. | $228.20 | c. | $170.51 | b. | $278.91 | d. | $180.51 |
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Find the cost to store, percent of markup, or selling price.
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5.
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Cost to store: $45 Markup: ? Selling price:
$54
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6.
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Cost to store: ? Markup: 10% Selling price:
$11
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Find the annual simple interest rate.
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7.
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I = $105, P = $300, t = 5 years
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8.
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I = $56, P = $350, t = 48 months
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9.
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I = $112.17, P = $1200, t = 7 months
a. | 16.02% | c. | 0.16% | b. | 18.01% | d. | 9.35% |
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Find the amount of time.
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10.
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I = $60, P = $150, r = 8%
a. | 5 years | c. | 6 years | b. | 3 years | d. | 0.1 year |
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11.
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I = $493.35, P = $550, r = 6.5%
a. | 13.8 years | c. | 12.7 years | b. | 165.6 years | d. | 12 years |
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12.
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A savings account earns 2% annual simple interest. The principal is $1400. What
is the balance after 8 years?
a. | $224 | c. | $23,800 | b. | $1624 | d. | $22,400 |
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13.
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You put $1000 in an account. The account earns $44 simple interest in 11 months.
What is the annual interest rate?
a. | 0.048% | c. | 4.4% | b. | 4.2% | d. | 4.8% |
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Numeric Response
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1.
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You buy a wristwatch for $17.03, which includes a 4.8% sales tax. You received a
discount of 35% off the original price. What is the original price?
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2.
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A pair of boots with an original price of $62.10 is discounted 20%. What is the
sale price?
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Short Answer
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1.
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An account earns 6% simple interest. You want to find the interest earned on
$700 after 18 months. What conversions do you need to make before you can use the formula I =
Prt?
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An account earns simple interest. (a) Find the interest earned. (b) Find the
balance of the account.
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2.
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$500 at 8% for 4.5 years
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