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Percent Problems

Vocabulary for Percent Problems Unit Grade 7

TermDefinition
Annual Percentage Rate The percentage of the principal that you either pay or earn per year.
Discount An amount of money (calculated as a percent of a price) that gets subtracted from the original price.
Markup An amount of money (calculated as a percent of a wholesale price) that gets added to the original price.
Percent A ratio that compares a number to 100.
Percent of Change A percent that describes the amount of change made from one quantity to another.
Percent of Decrease A percent of change that occurs when the new amount is less than to original amount.
Percent of Increase A percent of change that occurs when the new amount is greater than the original amount.
Principal An amount of money that is either deposited or borrowed.
Retail Price The price that a store puts on a product to sell.
Simple Interest An amount of money (calculated as a percent of a principal over a specific amount of time) that is paid to someone for the use of money.
Tax An amount of money (calculated as a percent of a final price) that gets added to the purchase and goes to the government.
Tip A percent of a purchase that is paid to someone who provides a specific service; like waiters, waitresses, or taxi drivers.
Wholesale Price The price a store pays to a manufacturer in order to get products on the shelves.
Created by: EYLERB106