Mathematics Two Cycle: Sales Tax, Income Tax, and Interest
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Questions and Answers

How can you calculate the sales tax of an item?

  • Multiply the cost of the item by the tax rate (correct)
  • Subtract the tax amount from the cost of the item
  • Divide the cost of the item by the tax rate
  • Add the cost of the item and the tax amount

    • What is the formula for income tax rate?

  • (Price before tax/Tax amount) × 100
  • (Price after tax/Tax amount) × 100
  • (Tax amount/Price before tax) × 100 (correct)
  • (Tax amount/Price after tax) × 100

    • Which statement is true about installment buying?

  • It allows you to pay for an asset in installments over time (correct)
  • It involves purchasing an asset all at once
  • It refers to selling an asset over time
  • It involves exchanging an asset for another asset

    • What is the term used for the original amount of money borrowed or invested?

    <p>Principal</p> Signup and view all the answers

    Which formula should you use to calculate simple interest?

    <p>$Principal × Rate of Interest × Time$</p> Signup and view all the answers

    What does income tax refer to?

    <p>Tax imposed by the Government on income</p> Signup and view all the answers

    Which formula is used to calculate simple interest?

    <p>$S.I. = P \times R \times T$</p> Signup and view all the answers

    What does 'P' represent in the simple interest formula?

    <p>Principal</p> Signup and view all the answers

    In the context of interest rates, what does 'R' stand for?

    <p>Rate of Interest</p> Signup and view all the answers

    What is the correct way to write an interest rate of 8% in the formula?

    <p>$0.08$</p> Signup and view all the answers

    What does 'T' represent in the simple interest formula?

    <p>Time</p> Signup and view all the answers

    If the principal is $500, the rate of interest is 10%, and the time is 3 years, what would be the simple interest earned?

    <p>$150$</p> Signup and view all the answers

    What type of assessment is the 'Week 5 Worksheet'?

    <p>Formative assessment</p> Signup and view all the answers

    In the 3-2-1 Chart, students write down how many things they learned?

    <p>3</p> Signup and view all the answers

    What do students write in the KWL activity at the end of each session?

    <p>What they know about the topics</p> Signup and view all the answers

    What do students share in the 'Entry/Exit Slip'?

    <p>A question on a sticky note</p> Signup and view all the answers

    What does the 'Week 6 Presentation' focus on according to the text?

    <p>Difference between interests</p> Signup and view all the answers

    What is the purpose of the 'Robbin round table' activity described in the text?

    <p>To clarify doubts through questioning</p> Signup and view all the answers

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