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Math 7th:Chapter 6

Chapter 6 vocabulary

TermDefinition
discount a deduction from the usual cost of something
gratuity a tip given to a waiter, taxicab driver, etc.
markdown a reduction in price.
markup the amount added to the cost price of goods to cover overhead and profit.
percent equation an equation that describes the relationship between part, while and percent
percent of error a ratio that compares the inaccuracy of an estimate (amount of error) to the actual amount
percent of change A ration that compared the change in a quantity to the original amount
percent of decrease a negative percent of change
percent of increase a positives percent of change
percent proportion one ratio or fractions that compares part of a quantity to the quantity. The other ratio is equivalent percent written as a fraction with a denominator of 100.
principle the amount of money deposited of borrowed
sales tax a tax on sales or on the receipts from sales
selling price asking price: the price at which something is offered
simple interest interest paid on the principal alone
tip a sum of money given to someone as a reward for their services.
Created by: tkorth