Name:    Quiz 4.3 - 4.4

Multiple Choice
Identify the choice that best completes the statement or answers the question.

1.

A bike with an original price of \$120 is discounted 20%. What is the sale price?
 a. \$144 c. \$24 b. \$96 d. \$100

2.

A gold chain with an original price of \$120 is on sale for \$66. What is the percent of the discount?
 a. 181% c. 54% b. 45% d. 55%

3.

A remote control airplane with an original price of \$83 is on sale for \$53.95. What is the percent of the discount?
 a. 35% c. 29.05% b. 153% d. 65%

4.

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

Find the cost to store, percent of markup, or selling price.

5.

Cost to store: \$45
Markup:   ?
Selling price: \$54
 a. 20% c. 16.7% b. 23% d. 83.3%

6.

Cost to store:   ?
Markup: 10%
Selling price: \$11
 a. \$11 c. \$10 b. \$1.10 d. \$9.90

Find the annual simple interest rate.

7.

I = \$105, P = \$300, t = 5 years
 a. 7% c. 0.07% b. 35% d. 8%

8.

I = \$56, P = \$350, t = 48 months
 a. 3% c. 16% b. 4% d. 0.04%

9.

I = \$112.17, P = \$1200, t = 7 months
 a. 16.02% c. 0.16% b. 18.01% d. 9.35%

Find the amount of time.

10.

I = \$60, P = \$150, r = 8%
 a. 5 years c. 6 years b. 3 years d. 0.1 year

11.

I = \$493.35, P = \$550, r = 6.5%
 a. 13.8 years c. 12.7 years b. 165.6 years d. 12 years

12.

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

13.

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%

Numeric Response

1.

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?

2.

A pair of boots with an original price of \$62.10 is discounted 20%. What is the sale price?

1.

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?

An account earns simple interest. (a) Find the interest earned. (b) Find the balance of the account.

2.

\$500 at 8% for 4.5 years