<p> Consumer Math Review</p><p>Name: ______</p><p>Finding the percent of a number</p><p> Change the percent to a decimal and multiply</p><p>OR</p><p> Set up a proportion  Put the percent over 100 and the part over the whole  Cross multiply and solve for x</p><p>Practice:</p><p>1) 10% of 16 = ______</p><p>2) 40% of 60 = ______</p><p>3) 15% of 35 = ______</p><p>4) 55% of 200 = ______</p><p>Finding the sales tax and total amount paid</p><p>Sales tax- the amount of money you pay in addition to the price</p><p> price + tax = total cost</p><p>Practice:</p><p>1) What is the amount of tax on a $20 stereo with a 6% sales tax? ______</p><p>2) How much money will Cindy pay for a $16 stuffed animal in Virginia? ______</p><p>3) Find the total cost of a $46 table with a 6.5% sales tax. ______</p><p>4) A wallet is $25. If the store charges a 5% sales tax, how much will you owe the cashier </p><p> altogether? ______Finding a tip and total amount paid</p><p>Tip- the amount of money you pay for a service </p><p> bill + tip = total amount paid</p><p>Practice:</p><p>1) How much is a 20% tip on a $84 meal? ______</p><p>2) Your meal comes to $36 and you want to leave an 18% tip. How much money will you leave as a tip? ______</p><p>3) What is the total cost of a meal that is $40 with a 15% tip? ______</p><p>4) Your family goes out to eat for $50. Dad wants to leave a 20% tip for the waitress. How much money will your family spend altogether? ______</p><p>Finding the discount and sale price </p><p>Discount- the amount of money you save</p><p>Sale Price- the amount of money you pay for an item on sale</p><p>Original price – discount = sale price</p><p>Practice:</p><p>1) A shirt is 20% off of $30. What is the amount of discount? ______</p><p>2) A $60 pair of shoes is on sale for 25% off. How much money will you save? ______</p><p>3) A $150 flat screen tv is 65% off. What is the sale price? ______</p><p>4) A hula hoop that was $14 is now 30% off? How much will it cost? ______Calculating Simple Interest</p><p>Interest- the money you owe in addition to the principal amount you borrowed or invested</p><p>Principal- the original amount of money borrowed or invested</p><p>Rate- a percent (change to a decimal)</p><p>Time- must be in years</p><p>Formula I = prt</p><p>Practice:</p><p>1) You need a $120 loan from the bank for a down payment on a car. The interest rate is 5.5% and you have 6 months to pay it off. How much money will you owe in interest? ______</p><p>2) You put $250 into the bank. At an interest rate of 12%, how much money will you have in the account after two years? ______</p>