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Unit 4

Proportional Reasoning with Percents

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.
Created by: Mrs Ott