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# Math Vocabulary

TermDefinition
Markup The amount the price by which the regular price of an item is reduced.
Markdown An amount by which the regular price of an item is reduced.
Gratuity Also known as a tip. It is a small amount of money in return for service.
Discount The amount by which the regular price of an item is reduced.
Percent Error A ratio that compares the inaccuracy of an estimate (amount of error) to the actual amount.
Percent of Change A ratio that compares the change in a quantity
Percent of Decrease A negative percent of change.
Percent of Increase A positive percent of change.
Percent Proportion One ratio or faction that compare part of a quantity to the whole quantity.
Princpal The amount of money deposited or borrowed.
Sales Tax An additional amount of money changed
Scale Drawing A drawing that is used to represent the objects that are to large or to small to be drawn at the actual size.
Sale Model A model used to represent objects that are to large or to small to be built actual size.
Scale The scale that gives the ratio that compares the measurement of a drawing or model to the measurements of the real object.
Selling Price The amount that a customer pays of an item.
Simple Interest The amount paid or earned for the use of money. The formula for simple interest is I=prt.
Tip Also know as gratuity, it is a small amount of money in return for service.
Created by: makayla_sierra13
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