Tax, Tip, And Discount
This quiz will cover the practical applications of percents.
Questions and Answers
- 1.
The Wheeler's bill at the restaurant was $63.00. How much money should Mr. Wheeler leave as a tip if he plans to tip 15%?
- A.
$ 72.45
- B.
$ 9.45
- C.
$ 78.00
- D.
$ 5.00
Correct Answer
B. $ 9.45Explanation
Mr. Wheeler should leave $9.45 as a tip because 15% of $63.00 is $9.45.Rate this question:
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- 2.
Chris puts $1,500 in a savings account at an annual interest rate of 5%. If Chris does not deposit or withdraw any money, what is the amount of interest Chris will earn the first year her money is in the account?
- A.
$ 50
- B.
$ 75
- C.
$ 500
- D.
$ 700
Correct Answer
B. $ 75Explanation
Chris puts $1,500 in a savings account with an annual interest rate of 5%. To calculate the amount of interest Chris will earn in the first year, we need to multiply the principal amount ($1,500) by the interest rate (5%).
$1,500 x 5% = $75
Therefore, Chris will earn $75 in interest the first year her money is in the account.Rate this question:
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- 3.
Lynne loaned $480 to a friend. The friend paid back the amount borrowed plus 10% interest. What was the total amount the friend paid to Lynne?
- A.
$ 480.10
- B.
$ 484.80
- C.
$ 528.00
- D.
$ 490.00
Correct Answer
C. $ 528.00Explanation
Lynne loaned $480 to her friend. The friend paid back the amount borrowed plus 10% interest. To find the total amount the friend paid to Lynne, we need to calculate the interest. 10% of $480 is $48. Adding this to the original amount borrowed gives us $480 + $48 = $528. Therefore, the correct answer is $528.00.Rate this question:
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- 4.
Harrison is buying a bicycle for $340. What amount of sales tax must he pay if the sales tax rate is 7%?
- A.
$ 23.80
- B.
$ 7.00
- C.
$ 24.60
- D.
$ 238.00
Correct Answer
A. $ 23.80Explanation
Harrison must pay a sales tax of $23.80 if the sales tax rate is 7%. To calculate the sales tax amount, we multiply the purchase price of $340 by the sales tax rate of 7%, which gives us $23.80. This amount is added to the original price, resulting in a total cost of $363.80.Rate this question:
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- 5.
The tax rate on an $80 sweater is 6.5%. What is the tax?
- A.
$ 520.00
- B.
$ 5.20
- C.
$ 52.00
- D.
$ 85.20
Correct Answer
B. $ 5.20Explanation
The tax rate on an $80 sweater is 6.5%. To calculate the tax, we multiply the price of the sweater by the tax rate. In this case, 6.5% of $80 is $5.20.Rate this question:
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Current Version
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Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Apr 29, 2011Quiz Created by
Kellyfritz
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