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

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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?

Principal Signup and view all the answers

Which formula should you use to calculate simple interest?

$Principal × Rate of Interest × Time$ Signup and view all the answers

What does income tax refer to?

Tax imposed by the Government on income Signup and view all the answers

Which formula is used to calculate simple interest?

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

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

Principal Signup and view all the answers

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

Rate of Interest Signup and view all the answers

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

$0.08$ Signup and view all the answers

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

Time 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?

$150$ Signup and view all the answers

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

Formative assessment Signup and view all the answers

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

3 Signup and view all the answers

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

What they know about the topics Signup and view all the answers

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

A question on a sticky note Signup and view all the answers

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

Difference between interests Signup and view all the answers

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

To clarify doubts through questioning Signup and view all the answers