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?


2.

A gold chain with an original price of $120 is on sale for $66. What is the
percent of the discount?


3.

A remote control airplane with an original price of $83 is on sale for $53.95.
What is the percent of the discount?


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


6.

Cost to store: ? Markup: 10% Selling price:
$11



Find the annual simple interest rate.


7.

I = $105, P = $300, t = 5 years


8.

I = $56, P = $350, t = 48 months


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?

Short Answer


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
