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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 |