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MRC Financial Maths
Term | Definition |
---|---|
Unitary Method | A method t o find value of single unit. It also explains how to use it to find value of desired number of units |
Algorithm | A process that follows a set of steps to achieve a result |
Fraction | Parts of a whole. Has a numerator and a denominator |
Decimal | Parts of a whole measured in tenths, hundredths and thousandths.... |
Percentage | Out of 100 |
Conversion | A change between different forms |
Evaluate | To solve. To find the answer to. |
Bargain | A good deal. |
Discount | An amount off the price of something |
Interest rate | The percentage rate a bank may charge for people to borrow money |