REAL LIFE PERCENT PRACTICE TEST

Transcription

1 Name ID DATE PERIOD REAL LIFE PERCENT PRACTICE TEST REMEMBER YOU CAN USE CALCULATORS BUT YOU MUST SHOW EACH SETUP!!!! 1. Find the sales tax to the nearest cent, then tell the cost with tax. A skateboard costs $120. The tax rate is 7 ¼ % a. sales tax b. cost with tax 2. Find the sales discount to the nearest cent, then tell the sales price. An Iphone costs $395. It s on sale at 20% off. The tax rate is 8 ½% a. sales discount b. sales price before tax c. sales tax d. total cost of the Iphone 1

2 3. You decide to resell the skateboard from problem #1 at a 60% markup to a friend. (Do not include the sales tax as part of your cost. Just use $120 as the cost.) a. markup b. selling price 4. You decide to resell the Ipod from problem #2 for $450. (Use $395 as the cost.) a. Find the markup in dollars. b. Find the markup %. (Remember: markup % is a percent of increase with cost being what you started with and the change is the markup.) 5. You earn a 25% commission on what you sell in a jewelry store. You sold $12,500 this month. What is your commission? 6. You buy a car for $75,000. The salesman tells you that you need to put down a downpayment of 20%. (Again, assume no sales tax.) What is your downpayment? What do you still owe on the car? 7. You tip your waiter 15% on a bill of $110. Assume there is no sales tax! Your tip Total you paid 2

3 8. You find an amazing deal on a laptop at Best Buy. The laptop is 2/3 off of the regular price of $999. (Leave this as a fraction! Don t turn the 2/3 into a decimal!) What is the sales discount? What is the sales price? 9. The original price of a pair of jeans is $48. The sales price is an amazing $16. What is the sales discount percent? (Remember: discount % is a percent of decrease with the original price being what you started with and the change is the discount.) 10. Out of the th graders, 360 come to the day at Universal. What percent of the 8 th graders did NOT come? 11. The attendance at Mrs. Sobieraj s movie trip increased 20% last year from the prior year. If in the prior year 65 students came, how many students came last year? 3

4 12. Find the percent of change for the following students grades: (round to the nearest whole number percent and tell whether it s a decrease or increase) a. From 70 to 90 b. From 90 to 80 c. From 40 to a. Find 35% of 60. b. 55% of what number is 20? c. 12 is what percent of 60? 4

5 14. Find the interest to the nearest cent, then tell how much you owe with interest. a. A loan of $5,000 at 10% for 5 years Interest Loan with interest to be paid back b. A credit card balance of $600 at 18% for 8 months Interest Credit card balance with interest to be repaid 15. Best Buy has a HDTV on sale at 25% off the regular price of $2000. The tax rate is 7¼ %. Although you don t have the money to purchase it in cash, the salesman says that with your good credit he will finance the HDTV over 3 years at an interest rate of 20%. How much will you pay for the HDTV after 3 years? Remember to follow the following steps: a. Find the sales price b. Find the sales price with tax c. Find the amount of interest you will be paying on the sales price with tax d. Your final HDTV cost 5

6 16. Did you save money by buying the HDTV on sale in problem #13? Explain why or why not. 17. You give a waiter a $22 tip. The waiter did an okay job, but you decided to only tip him 15%. What was the bill rounded to the nearest cent? (Remember: the $22 is THE TIP not the bill! HINT: You might want to restate this as $12 is 15% of what number?) 18. Fry s is offering 4 CDs for $21, while Best Buy is offering 2/3 off the same CDs. The original price of each CD at Best Buy is $ Where should you buy the CDs and why? 19. You are looking to deposit money in a bank that will earn you the most interest. You notice that all the banks are offering the same 5% interest on your money, but the interest is compounded differently as shown below: Bank A : Simple interest only NO Compounding Bank B: Interest is compounded Biannually Bank C: Interest in compounded semiannually Bank D: Interest is compounded monthly Bank E: Interest is compounded quarterly At which bank will you earn the most interest? (SIMPLY CIRCLE THE CORRECT BANK LETTER ABOVE!) 6

7 20. MATCH THE DESCRIPTION WITH THE PROPER TERM: Write the appropriate letter in front of the term: 21. Find n a. semiannually interest is calculated on the interest b. annually compounds 12 times a year c. biannually compounds every 2 years d. quarterly compounds twice a year e. monthly compounds at the end of each year f. compounding interest is only calculated on the principal g. simple compounds 4 times a year n 23% 5% 41% 22.Find n 1/4 1/5 n 3/8 7

8 23. a. The symbol for similar is b. If two triangles are similar, then all of the following are true EXCEPT (circle the one that is false): The corresponding sides are proportional The corresponding angles are proportional The corresponding angles are congruent (equal) The triangles are the same shape c. All are similar (circle all that apply): squares circles equilateral triangles regular polygons 24. Fill in the following table: FRACTION DECIMAL PERCENT % % 8