Podcast
Questions and Answers
How do you calculate 15% of Nu 720 using 10% and 5%?
How do you calculate 15% of Nu 720 using 10% and 5%?
You calculate 10% of Nu 720, which is Nu 72, then calculate 5% of Nu 720, which is Nu 36, and add them together to get Nu 108.
If an item's regular price is Nu 720, and the sale price is Nu 612, what is the discount amount?
If an item's regular price is Nu 720, and the sale price is Nu 612, what is the discount amount?
The discount amount is Nu 108.
Describe the steps to find the sale price of an item after a 15% discount on Nu 720.
Describe the steps to find the sale price of an item after a 15% discount on Nu 720.
First, find 15% of Nu 720, which is Nu 108. Then, subtract this discount from the regular price: Nu 720 - Nu 108 = Nu 612.
What mathematical operations are used to calculate the discount amount from a given percentage and price?
What mathematical operations are used to calculate the discount amount from a given percentage and price?
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Why do you need to calculate both 10% and 5% to find the 15% discount of Nu 720?
Why do you need to calculate both 10% and 5% to find the 15% discount of Nu 720?
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If another item has a regular price of Nu 720 with a 20% discount, what would the discount amount be?
If another item has a regular price of Nu 720 with a 20% discount, what would the discount amount be?
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Explain why it is useful to break down percentage calculations into parts like 10% and 5%.
Explain why it is useful to break down percentage calculations into parts like 10% and 5%.
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How much is 5% of Nu 720 and how is this value used in the solution?
How much is 5% of Nu 720 and how is this value used in the solution?
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Given a 25% discount on an item priced at Nu 720, what would the sale price be?
Given a 25% discount on an item priced at Nu 720, what would the sale price be?
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Outline the reasoning for finding the sale price after determining the discount amount.
Outline the reasoning for finding the sale price after determining the discount amount.
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Study Notes
Simple Interest and Commission
- Simple interest is used for savings to earn money steadily and for loans to pay back slowly.
- The formula for calculating simple interest is: I = Prt, where I is the interest, P is the principal, r is the annual interest rate, and t is the time in years.
- In simple interest, the principal reduces and the interest is reduced in every payment.
Example: Calculating Simple Interest
- James borrowed Nu. 3000 for 3 months at an annual rate of 7%.
- The interest, I = Prt = 3000 x 0.07 x 3/12 = 105 = Nu. 105.
- He paid back the principal and interest, totaling Nu. 3105.
Markup and Discount Consumer Problems
Markup
- A markup is an increase in price to make a profit.
- Markup can be an amount or a percentage.
- Example: A pen with a cost price of Nu 1000 is sold at a markup of 30% = Nu 300.
- Selling price = Cost price + Markup = Nu 1000 + Nu 300 = Nu 1300.
Discount
- A discount is a decrease in price to encourage customers to buy.
- Discount can be an amount or a percentage.
- Example: An item with a regular selling price of Nu 720 is discounted by 15%.
- Discount amount = 15% of Nu 720 = Nu 108.
- Sale price = Regular selling price - Discount amount = Nu 720 - Nu 108 = Nu 612.
Finding a Discount Amount and Sale Price
- To find a discount amount, calculate the percentage of the regular selling price.
- To find the sale price, subtract the discount amount from the regular selling price.
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Description
Understand the concept of simple interest and commission, how it works for savings and loans, and how it affects principal and interest payments.
