Term | Definition |
numerator | The part of the fraction that is placed on top of the fraction bar and tells us how many of the parts of the whole are being dealt with. |
denominator | The part of the fraction that is placed below the fraction bar that tells us how many equal parts the whole is divided into. |
decimal number | A number that uses a decimal point followed by digits to the right. |
fraction | rational number expressed as a/b where b does not equal zero |
percent | A ratio comparing a number to 100. |
estimate | A close guess of the actual value, usually with some thought or calculation involved. |
determine | To figure out or settle a question. |
solution | The act of solving a problem or question. |
percent change | The amount stated as a percent in which a quantity increases or decreases. |
percent decrease | A percent change describing a decrease in a quantity. |
percent increase | A percent change describing an increase in a quantity. |
markup | The amount added to the cost price of goods to cover overhead and profit. |
retail price | The total amount charged for a product sold to a customer, which includes the manufacturer's cost plus seller markup. |
commission | A fee paid to a person for making a sale. |
commission rate | The fee paid to a person who makes a sale expressed as a percent of the selling price. |
sales tax | A rate in which a government entity require on the monetary exchange of goods or services. |
revenue | The total amount of money brought in, income. |
profit | The difference between the income and the amount spent in buying, operating, or producing something. |
interest | The amount of money charged for borrowing or using money. |
simple interest | One type of fee paid for the use of money in which there is a fixed percent of the principal and is found using the formula I=prt. |
principal | The initial amount of money borrowed or saved. |
rate of interest | The percent charged or earned on an amount of money. |