SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
Search
Test your basic knowledge |
CLEP General Mathematics: Percent
Start Test
Study First
Subjects
:
clep
,
math
Instructions:
Answer 15 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. To solve percent problems using proportions - set up the proportion - Percent/100 = Part/Whole
Base (total)
Solving percent problems using proportions
Depreciation
Percent (rate)
2. A long-term loan (usually to buy a house) that you can get from a bank - credit union - mortgage broker - or online lender - An agreement to repay a loan with interest over a certain period by the owner of a property to the mortgagee.
Depreciation
Percentage
Mortgage
Discount
3. A reduction in the regular price of an item - an amount or percentage deducted - a refund of some fraction of the amount paid
Commission
Percentage
Total cost
Discount
4. The amount paid for using money: I = P X R X T - - The amount of interest based on a principal amount and not on earned interest. - interest = principal rate time
Total cost
Base (total)
Commission
Simple interest
5. A type of federal student loan - Rates vary and are adjusted every July but cannot exceed 8.25%.
Commission
Stafford loan
Percent
Percent (rate)
6. Per hundred - a proportion multiplied by 100 - a ratio whose denominator is 100
Mortgage
Commission
Depreciation
Percent
7. The part being compared with the base or total - P = B X R - a proportion multiplied by 100 - A ratio that states the number of times an outcome is likely to occur out of a possible 100 times
Base (total)
Percentage
Discount
Commission
8. The part indicating the ratio of the percentage to the base - R = P/B - the percent of the base indicated in a percent statement
Base (total)
Mortgage
Percentage
Percent (rate)
9. Annual Percentage Rate - this stands for annual percentage rate - which is a number calculated by taking into account the total cost of the loan - including what the borrower will pay in interest; this makes it easier to compare different loan offers
Solving percent problems using proportions
Compound interest
APR
Stafford loan
10. Total compound amount A for a rate i per period applied to a principal P for n periods is given by computing interest on the earned interest: A = P(1 + i)^n - interest calculated on both the principal and the accrued interest - Compound interest is i
Compound interest
Simple interest
Percentage
Commission
11. The standard used for comparison purposes - B = P/R ; B the base - P the percentage - R the rate. - the whole amount
Percent increase/ decrease
Base (total)
Solving percent problems using proportions
Percentage
12. The percent a given quantity increases or decreases - Different / Original - the percent of change found when the amount increases/decreases.
Depreciation
Stafford loan
Percent increase/ decrease
Percent (rate)
13. The loss in value of an item - decrease in value of an asset due to obsolescence or use
Stafford loan
Mortgage
Compound interest
Depreciation
14. A share of the sales price earned by a salesperson - a fee for services rendered based on a percentage of an amount received or collected or agreed to be paid (as distinguished from a salary)
Commission
Discount
Total cost
Compound interest
15. List price + sales tax - Fixed Cost + Variable Cost
Total cost
Commission
Percent increase/ decrease
Stafford loan