- In a city, 60% of the population are registered voters. Of the registered voters, only 45% actually voted in the last election. What percentage of the total city population voted in the last election?
Answer: 27%
To find the percentage of the total population that voted, you must find 45% of 60%. Convert the percentages to decimals and multiply: 0.45×0.60=0.27. Converting this decimal back to a percentage gives 27%. - A real estate agent earns a 3% commission on the selling price of a house. If the agent earned a commission of $8,850, what was the selling price of the house?
Answer: $295,000
The commission is 3% of the selling price. Let S be the selling price. The equation is 0.03×S=$8,850. To find the selling price, divide the commission by the commission rate (as a decimal): S=$8,850÷0.03=$295,000. - After a 15% discount, the price of a coat is $153. What was the original price of the coat?
Answer: $180.00
The discounted price represents 100% - 15% = 85% of the original price. Let P be the original price. Then 0.85×P=$153. To find the original price, divide the discounted price by 0.85: P=$153÷0.85=$180.00. - An electronics store sold a camera for $420, making a 20% profit on the cost. What was the store's cost for the camera?
Answer: $350
The selling price ($420) is the store's cost (C) plus the profit (20% of C). So, $420=C+0.20C, which simplifies to $420=1.20C. To find the cost, divide the selling price by 1.20: C=$420÷1.20=$350. - A bicycle is listed at $450. It is on sale for 20% off. If the sales tax is 6% on the sale price, what is the total cost of the bicycle?
Answer: $381.60
First, calculate the discount amount: 20% of $450 is 0.20×450=$90. The sale price is the original price minus the discount: $450−$90=$360. Next, calculate the sales tax on the sale price: 6% of $360 is 0.06×360=$21.60. The total cost is the sale price plus the tax: $360+$21.60=$381.60. - A property tax assessment increases by 8% this year. Additionally, the tax rate increases from 1.2% to 1.35% of assessed value. If a homeowner's tax bill was $2,400 last year, what will it be this year?
Answer: $2,916
Last year's assessed value: $2,400 ÷ 0.012 = $200,000. This year's assessed value: $200,000 × 1.08 = $216,000. This year's tax: $216,000 × 0.0135 = $2,916. Choice B only applies the assessment increase. Choice C only applies the rate increase. Choice D incorrectly adds the percentage increases before calculating.
- A retailer buys items for $40 each and wants to price them so that after offering a 20% discount, the profit margin on the sale price will be 25%. What should be the original marked price?
Answer: $66.67
Let x be the marked price. After 20% discount, sale price is 0.8x. For 25% profit margin on sale price: sale price = cost ÷ 0.75. So 0.8x = $40 ÷ 0.75 = $53.33. Therefore x = $53.33 ÷ 0.8 = $66.67. Choice A calculates margin on cost instead of sale price. Choice C uses wrong discount calculation. Choice D adds the percentages incorrectly.
- A library has 1,500 books. 40% of the books are fiction. Of the non-fiction books, 25% are biographies. How many biographies does the library have?
Answer: 225
First, find the number of fiction books: 0.40×1,500=600. The number of non-fiction books is the total minus the fiction books: 1,500−600=900. Next, find the number of biographies by taking 25% of the non-fiction books: 0.25×900=225. The library has 225 biographies. - A principal amount of $2,500 is invested in an account with a simple annual interest rate of 4%. What is the total amount in the account after 3 years?
Answer: $2,800.00
Simple interest is calculated using the formula I = Prt. The annual interest is $2,500×0.04=$100. Over 3 years, the total simple interest earned is $100×3=$300. The total amount in the account is the original principal plus the total interest: $2,500+$300=$2,800.00. - A restaurant bill totals $84.60 before tax. The sales tax rate is 8.25% and the customer wants to leave an 18% tip on the pre-tax amount. What is the total amount the customer will pay?
Answer: $106.81
Calculate tax: $84.60 × 0.0825 = $6.98. Calculate tip on pre-tax amount: $84.60 × 0.18 = $15.23. Total: $84.60 + $6.98 + $15.23 = $106.81. Choice A uses wrong tax rate. Choice C calculates tip on the after-tax amount. Choice D adds the percentages before multiplying.
- A car depreciates 15% in its first year and 12% of its remaining value in its second year. If the car is worth $18,700 after two years, what was its original value?
Answer: $25,000
After first year, the car is worth 85% of original value. After second year, it's worth 88% of the first year value, or 0.85 × 0.88 = 0.748 of original value. If 0.748 × original = $18,700, then original = $18,700 ÷ 0.748 = $25,000. Choice A uses simple depreciation instead of compound. Choice B miscalculates the decimal conversion. Choice D adds the depreciation percentages incorrectly.
- A membership at a gym costs $50 per month. If a member pays for an entire year in advance, they receive a 15% discount on the total cost. How much does it cost to pay for a year in advance?
Answer: $510.00
First, calculate the total cost for a year without a discount: $50×12=$600. Next, calculate the discount amount: 15% of $600 is 0.15×$600=$90. Finally, subtract the discount from the total yearly cost: $600−$90=$510. - A rental car company charges a daily rate plus a 15% tax and fee surcharge. If the total charge for a one-day rental was $63.25, what was the company's daily rate before the surcharge?
Answer: $55.00
The total charge of $63.25 represents 100% of the daily rate plus a 15% surcharge, which is 115% of the daily rate. Let R be the daily rate. Then 1.15×R=$63.25. To find the rate, divide the total charge by 1.15: R=$63.25÷1.15=$55.00. - A savings account earned $67.50 in simple interest over one year at an annual interest rate of 3%. What was the principal amount in the account at the beginning of the year?
Answer: $2,250.00
Simple interest (I) is calculated as Principal (P) times rate (r) times time (t). Here, I = $67.50, r = 0.03, and t = 1. The formula is I=P×r×t, so $67.50=P×0.03×1. To find the principal, divide the interest by the rate: P=$67.50÷0.03=$2,250.00. - A laptop computer is priced at $1,200. The store offers a 10% discount. However, the customer must also pay an 8% sales tax on the discounted price. What is the final amount the customer pays?
Answer: $1,166.40
First, calculate the discount: 0.10×$1,200=$120. The discounted price is $1,200−$120=$1,080. Next, calculate the sales tax on this discounted price: 0.08×$1,080=$86.40. The final amount is the discounted price plus the tax: $1,080+$86.40=$1,166.40. - A customer paid a total of $53.50 for a sweater. This price included a 20% discount off the original price and then a 7% sales tax on the discounted price. What was the original price of the sweater?
Answer: $62.50
Let P be the original price. The discounted price is P×(1−0.20)=0.8P. The final price after tax is (0.8P)×(1+0.07)=(0.8P)×1.07=0.856P. We are given that the final price is $53.50. So, 0.856P=$53.50. To find P, divide by 0.856: P=$53.50÷0.856=$62.50. - A restaurant bill, including a 5% tax and an 18% tip on the pre-tax amount, totaled $147.60. What was the amount of the bill before tax and tip were added?
Answer: $120.00
Let B be the original bill amount. The tax is 0.05B and the tip is 0.18B. The total cost is B+0.05B+0.18B=1.23B. We are given that the total is $147.60. So, 1.23B=$147.60. To find B, divide the total by 1.23: B=$147.60÷1.23=$120.00. - A store marks up merchandise by 40% above wholesale cost, then offers a 25% discount during a sale. If an item's sale price is $63, what was the wholesale cost?
Answer: $60.00
Work backwards from the sale price. If wholesale cost is x, then markup price is 1.4x, and sale price is 1.4x × 0.75 = 1.05x. Since 1.05x = $63, then x = $63 ÷ 1.05 = $60. Choice A applies the discount before the markup. Choice C assumes the $63 is before the discount. Choice D incorrectly adds the percentages.
- A store offers two promotion options on a $100 appliance. Option A is a single 35% discount. Option B is a 25% discount, followed by an additional 10% discount on the reduced price. How much more money does a customer save by choosing the better option?
Answer: $2.50
Option A savings: 0.35×$100=$35.00. For Option B, the first discount is 0.25×$100=$25.00, making the price $75.00. The second discount is 0.10×$75.00=$7.50. Total savings for Option B is $25.00+$7.50=$32.50. Option A is the better option. The difference in savings is $35.00−$32.50=$2.50. - A salesperson earns a monthly salary of $1,200 plus a 5% commission on all sales over $10,000. If the salesperson's total sales for the month were $35,000, what were their total earnings for the month?
Answer: $2,450
First, determine the amount of sales eligible for commission: $35,000−$10,000=$25,000. Next, calculate the commission earned on that amount: 5% of $25,000 is 0.05×$25,000=$1,250. Finally, add the base salary to the commission: $1,200+$1,250=$2,450.