Money, Simple Interest & DiscountsATI TEAS 7 cheat sheet

Percent, applied

8 key facts 5 practice questions Reviewed Oct 2026

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Simple Interest

I = P r t — principal × rate × time in years
$2,000 at 5% for 3 years → I = $300
Total owed = P + I

Discounts

Sale price = original × (1 − discount)
30% off $80 → 80 × 0.70 = $56

Tax & Tip

Add: total = subtotal × (1 + rate)
8% tax on $50 → 50 × 1.08 = $54

Order

Discount first, then tax, unless the question says otherwise

Key takeaway

Percent, applied

Before you read

Test yourself first: 5 questions

Question 1 of 5

Write 0.6 as a fraction in simplest form.

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