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SOL 8.3

discount, tax, tip, percent increase and decrease and interest

TermDefinition
Quantity A specific amount or number that represents how much of something you have.
Proportion An equation stating that two ratios are equal. Compares two or more quantities.
Discount Rate The percentage in which a regular price is reduced.
Mark Up The amount of money an item is increased above the original price.
Discount Price The price of an item after the discount has been taken out, also called the "sale price."
Interest The amount of money paid or earned in addition to the money borrowed or saved.
Percent of Increase The percent of change when the new amount is greater than the original.
Percent A ratio that compares a number to 100.
Rate A ratio that can be commonly given as a percentage. Gives the amount of payment or charge based on another amount.
Principle The amount of money originally invested or borrowed.
Tax Rate A percent added to items purchased enforced by the government. Virginia's is 5% on purchased items.
Selling Price The amount the customer pays for an item.
Discount The amount of money that is subtracted from the original price.
Percent of Change A ratio that compares the change in a quantity to the original amount.
Tax The amount of money added to purchased items.
Unit Rate A rate with a denominator of one (1).
Tip The amount of money paid for services, also called "gratuity."
Percent of Decrease The percent of change when the new amount is less than the original.
Ratio A way of comparing two quantities. Can be written as [a/b], [a:b], or [a to b].
Interest Rate A percentage of the money invested or borrowed that you must pay back or that you have earned.
withdrawal an act of taking money out of an account.
deposit an act of putting money into an account
balance Amount available in an account
Created by: pktaylor
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