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Chapter 7 Test Use the percent equation to answer the question. 1. 24 is what percent of 40? 14. At the end of the summer, lawn furniture selling at a market price of $368 is on sale for 23% off. What is the amount of the discount? 3. 12 is 20% of what number? 15. A store gives customers a markup of 13%. If the store sells a belt for $25, what was the wholesale price paid for the belt by the store? 4. What is a salesperson's commission on a $1000 sale if the commission rate is 20%? 16. A man buys 12 shirts at $24.69 each. There is also a 6% sales tax. Find his total bill. Use a calculator. 2. What number is 3.4% of 210? Identify the percent of change as an increase or a decrease. Then find the percent of change. Round your answer to the nearest tenth if necessary. Use the simple interest formula to find the unknown quantity. 17. 5. Original: 30 New: 50 6. Original: 73 New: 48 Find the new amount. 7. Increase 30 by 80%. 8. Decrease 40 by 20%. 18. Sylvia bought a $900 certificate of deposit that earns simple annual interest. At the end of 6 months, she received $45 interest. What annual rate of interest did the certificate pay? 19. Michael put $6000 in a savings account that earns simple annual interest. At the end of one year the account had earned $ in interest. What was the annual interest rate on the account? Use the given information to find the new amount. 9. Original price: $15 Discount percent: 30% 10. Original price: $14.57 Markup percent: 105% 11. An article regularly selling for $87.97 is advertised at 55% off. Find the sale price to the nearest cent. 12. Use the given information to find the original price. Retail price: $540 Markup percent: 125% 13. A department store purchases a dress for $110. To sell the dress to customers, the price is increased by 16%. What is the new price of the dress? $1800 $3200 ? 9 years For an account that earns interest compounded annually, find the balance of the account. 20. 21. Jerome deposited $ into an account that earns % interest compounded annually. Find the balance after years. 22. You are one of 16 finalists on a game show. One finalist is randomly selected to answer a trivia question for a prize. What is the probability that you will be selected? Write your answer as a percent. 23. On a math test, you obtained a score of 66 points. This was of the total number of points on the test. How many total points were on the test? 24. You want to order a new computer. The manufacturer is offering a discount of off the original price of the computer. With the discount, you pay $924. What is the original price of the computer? 25. You deposit $4280 into a savings account that earns interest compounded annually. Use a calculator to find the balance of the account after 8 years. Round your answer to the nearest cent. Chapter 7 Test Answer Section 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 60% 7.14 60 $200 increase, 66.7% decrease, 34.2% 54 32 $10.50 $29.87 $39.59 $240 $127.60 $84.64 $22.12 $314.06 6.25% 10% 9.5% $442.86 $7384.30 75 points $1050 $4917.21