7 - General Word Problems Flashcards
Mixture Problems - 2 Variables
Steps for Age Problems
How do you calculate price per item?
Profit formula
Profit = Total Revenue - [Total Fixed Costs + Total Variable Costs]
Dawn is a salesperson who must select between two different options for her annual compensation. Dawn can elect to earn $100,000 per year as a flat salary or $10,000 a year salary plus 30 percent commission on the total dollar amount of. her yearly sales. At what dollar amount of yearly sales would Dawn be indifferent to either compensation package if compensation were her only consideration?
Simple interest formula
Principal * Rate * Time
Compound Interest Formula
A = P(1 + r/n)nt
<span>A= future value </span>
<span>P = initial principal </span>
<span>r = interest rate </span>
<span>t = time </span>
<span>n = the number of compounding periods per year </span>
Linear Growth Formula
Fn = kn + p
Fn = final value after the growth occurs
p = value of the initial value
k = in the constant increase during each period
n = the number of periods during which growth occurs
Exponential Growth Problems
i * xn
i= initial value
x = growth factor
n= number of growth periods
Growth factor
Must know the growth factor for growth questions. Note: if given a sequence that is evenly spaced, you can determine the growth factor.
Digit formula
10(Tens Digit) + Ones Digit = Final number
You can use this as one equation in a system of equations.
Objects in a line when you are the mth person from the front of the line and the nth person from the back of the line
Objects in a line when you are the mth person from the front of the line and the nth person from the back of the line
m+n - 1
