Chapter 6.1 - 6.6

Question 1

Define Commission

Answer 1

Commission is a percentage of total sales as determined by the RATE of commission.

Question 2

Define Discount

Answer 2

An amount of discount is a percent off the original price, determined by the discount rate.

Question 3

Define Mark-up

Answer 3

The mark-up is the amount added to the wholesale price, determined by the mark-up rate.

Question 4

Define Percent

Answer 4

A percent is a ratio whose denominator is 100.

Question 5

Define Percent decrease

Answer 5

The percent decrease is the percent the amount of increase is of the original amount.

Question 6

Define Percent Increase

Answer 6

The percent increase is the percent the amount of increase is of the original amount.

Question 7

Define Proportion

Answer 7

A proportion is an equation of the form “a/b = c/d”, where “b does not equal 0”, and “d does not equal 0”. The proportion states two ratios or rates are equal. The proportion is read “a is to b, as c is to d”.

Question 8

Define Sales Tax

Answer 8

The sales tax is a percent of the purchase price.

Question 9

Define Simple Interest

Answer 9

If an amount of money, P, the principal, is invested for a period of t years at an annual interest rate r, the amount of interest, I, earned is I = Prt. Interest earned accounting to this formula is called simple interest.

Question 10

How to Convert a percent to a fraction

Answer 10

Step 1. Write the percent as a ratio with the donominator 100. Step 2. Simplify the fraction if possible.

Question 11

How to Convert a percent to a decimal

Answer 11

Step 1. Write the percent as a ratio with the donominator 100. Step 2. Convert the fraction to a decimal by dividing the numerator by the denominator.

Question 12

How to Convert a decimal to a percent

Answer 12

Step 1. Write the decimal as a fraction. Step 2. If the denominator of the fraction is not 100, rewrite it as an equvalent fraction with denominator 100. Step 3. Write this ratio as a percent.

Question 13

How to Convert a fraction to a pecent

Answer 13

Step 1. Convert the fraction to a decimal. Step 2. convert the decimal to a percent.

Question 14

Steps to Solve an Application Involving Percents

Answer 14

Step 1. Identify what you are asked to find and choose a variable to represent it. Step 2. Wrtie a sentence that gives the informaiton to find it. Step 3. Translate the sentence into an equation. Step 4. Solve the equation using good algebra techniques. Step 5. Write a complete sentence that answers the question. Step 6. Check the answer in the problem and make sure it makes sense.

Question 15

Steps to Solve an Application Involving Percent Increase.

Answer 15

Step 1. Find the amount of increase:” increase = new amount - original amount”. Step 2. Find the percent increase as a percent of the original amount.

Question 16

Steps to Solve an Application Involving Percent Decrease.

Answer 16

Step 1. Find the amount of decrease: “decrease = original amount - new amount”. Step 2. Find the percent decrease as percent of the original amount.

Question 17

Steps to Solve an Application Involving Sales Tax.

Answer 17

Step 1. Calculate Sales Tax = Sales Tax Rate x Purchase Price. Step 2. Calculate Total Cost = Purchase Price + Sales Tax.

Question 18

Steps to Solve an Application Involving Commission..

Answer 18

Commission = Rate of Commission x Original Price.

Question 19

Steps to Solve an Application Involving Discount.

Answer 19

Step 1. Calculate Discount = Discount Rate x Original Price. Step 2. Discounted Sale Price = Original Price - Discount.

Question 20

Steps to Solve an Application Involving Mark-up. .

Answer 20

Step 1. Calculate Mark-up = Mark-up Rate x Wholesale Price. Step 2. List Price = Wholesale Price + Mark-up Amount.

Question 21

Steps to Solve an Application Involving Simple Interest .

Answer 21

Formula is I = Prt, where P is the amount of money, P, principal, is invested for a period of t years at an Annual Interest Rate, r, the amount of SIMPLE Interest, I, earned is calculated as I = Prt.

Question 22

Steps to Solve an Application Involving Proportions .

Answer 22

Formula is “a/b = c/d” where “b does not equal 0”, “c does not equal 0”. The Proportion formula states that the two ratios, or rates are equal. The Proportion is read as “a is to b, as c is to d”.

Question 23

Define Cross Products of a Proportion

Answer 23

For any proprtion of the form “a/b = c/d”, where “b does not equal 0”, “c does not equal 0”, its CROSS PRODUCTS are equal: “a x d = c x b.”

Question 24

Define Percent Proportion

Answer 24

The amount is to the base as the percent is to 100: “amount/base” = “percent/100”.