1.
You have $100 in your bank account. After the first year, you have $107 in your bank account. Calculate the percent increase.
Correct Answer
D. 7%
Explanation
The percent increase can be calculated by finding the difference between the final amount and the initial amount, dividing it by the initial amount, and then multiplying by 100. In this case, the difference is $7 ($107 - $100), the initial amount is $100, and the percent increase is 7%.
2.
The apple store charges a 2.9% shipping and handling fee for online payments. How much would you pay total if you spent $1,500?
Correct Answer
C. $1543.50
Explanation
If the apple store charges a 2.9% shipping and handling fee for online payments, it means that for every $100 spent, $2.90 would be added as a fee. Therefore, for a $1,500 purchase, the fee would be 2.9% of $1,500, which is $43.50. Adding this fee to the original purchase amount, the total amount to be paid would be $1,500 + $43.50 = $1543.50.
3.
You take out a loan for $1000 at a rate of 3% for 8 years. How much interest will you have to pay on that loan?
Correct Answer
A. $240
Explanation
If you take out a loan for $1000 at a rate of 3% for 8 years, the total interest you will have to pay can be calculated using the formula: Interest = Principal x Rate x Time. In this case, the interest would be $1000 x 0.03 x 8 = $240. Therefore, the correct answer is $240.
4.
AJ purchased a new tv for $1200. The regular price of the tv was $1500. What percent did AJ save by buying it on sale?
Correct Answer
A. 20%
Explanation
AJ saved 20% by buying the TV on sale. To calculate the percentage saved, we can use the formula: (Regular price - Sale price) / Regular price * 100. In this case, the regular price was $1500 and the sale price was $1200. Plugging these values into the formula, we get (1500 - 1200) / 1500 * 100 = 300 / 1500 * 100 = 0.2 * 100 = 20%. Therefore, AJ saved 20% by buying the TV on sale.
5.
Each week, Ainsley spends $28 at the local coffee shop. If she gets a total of $50 each week from her parents for her allowances, what percentage of her allowance is she spending at the coffee shop each week?
Correct Answer
A. 56%
Explanation
Ainsley spends $28 at the local coffee shop each week. Her total allowance is $50 per week. To find the percentage of her allowance that she spends at the coffee shop, we divide the amount spent at the coffee shop ($28) by the total allowance ($50) and multiply by 100. Therefore, the percentage of her allowance that she spends at the coffee shop each week is 56%.
6.
Dashawn bought a CD that cost $18.99 and paid $20.51, including tax. What was the percent of tax he paid?
Correct Answer
D. 8%
Explanation
Dashawn paid $20.51 for the CD, which includes the cost of the CD and the tax. To find the percent of tax he paid, we need to calculate the difference between the total amount paid and the cost of the CD. The difference is $20.51 - $18.99 = $1.52. To find the percent, we divide this difference by the cost of the CD and multiply by 100. ($1.52 / $18.99) * 100 = 8%. Therefore, Dashawn paid 8% tax on the CD.
7.
Ms. Ward wants to buy a suit marked $60. She receives a 25% discount, and then there is a 7% sales tax. How much does Ms. Ward actually spend on the suit?
Correct Answer
C. $48.15
Explanation
Ms. Ward wants to buy a suit marked at $60. She receives a 25% discount, which means she will pay only 75% of the original price. Therefore, she will pay 0.75 * $60 = $45. After that, there is a 7% sales tax, which is calculated by multiplying the price by 0.07. Therefore, the amount Ms. Ward actually spends on the suit is $45 + ($45 * 0.07) = $48.15.
8.
My dinner bill came to $15.65 and I want to leave the waitress a 20% cash tip on the table. How much should I leave her?
Correct Answer
A. $3.13
Explanation
To calculate a 20% cash tip, you multiply the total bill amount by 0.20. In this case, 20% of $15.65 is $3.13. Therefore, you should leave the waitress $3.13 as a cash tip.
9.
Carmen scored 18 question correct on a test. IF she received a 72% on the test, how many questions were on the test?
Correct Answer
D. 25
Explanation
If Carmen scored 18 questions correct on a test and received a 72% on the test, we can set up a proportion to find the total number of questions on the test. The proportion can be set up as 18/x = 72/100, where x represents the total number of questions. Cross multiplying, we get 18 * 100 = 72 * x, which simplifies to 1800 = 72x. Dividing both sides by 72, we find that x = 25. Therefore, there were 25 questions on the test.
10.
A video game originally priced at $65.50 is on sale at 12% discount. What is the sale price?
Correct Answer
C. $57.64
Explanation
The sale price of the video game can be calculated by subtracting the discount from the original price. Since the discount is 12% of $65.50, we can find the discount amount by multiplying $65.50 by 0.12. This gives us a discount of $7.86. Subtracting this discount from the original price gives us the sale price of $57.64.