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G7 M4 Vocabulary
Voc Percents/Markup/Markdowns/Commissions
| Term | Definition |
|---|---|
| Percent | A number or ratio expressed as a fraction of 100 |
| Commission | Amount paid to a salesperson, usually a percent of the sale |
| Markup | Increase of the price of something |
| Markdown | Decrease in the price of something |
| Total price | Original price plus the markup |
| Sale price | Amount of an item after the markup or markdown |
| Discount | Amount that the original price is reduced |
| Simple Interest | Money that you pay on a loan OR that you earn on your deposits |