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Aniel Math 7 Unit 6

Unit 6 Vocabulary

TermDefinition
Percent of Change The percent a quantity increases or decreases from it's original amount.
Markup The amount of increase in price.
Selling Price This is calculated by adding the markup to the store's cost of the the item.
Percent of Markup The percet of increase in the price of an item.
Discount The amount by which the price of an item on sale is reduced.
Sale Price The regular price of an item minus the discount.
Percent of Discount The percent of decrease in the price of an item after a discount.
Interest Money paid for the use of your money.
Interest Rate Interest calculated at a certain percentage rate.
Principal Original amount of money deposited or borrowed.
Simple Interest Interest calculated only on the principal
Balance Principal in an account plus the interest earned.
Percent Error The difference between approximate and exact values, as a percentage of the exact value
Commission A percent of the amount you sell.
Created by: anielam
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