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SOL 8.3
discount, tax, tip, percent increase and decrease and interest
| Term | Definition |
|---|---|
| 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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