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Percentages

Yr 8

TermDefinition
Percentage Increases & Decreases Can be used to calculate and compare prices, mark ups, discounts, population changes, profits, etc.
Per cent means out of 100
% symbol for percentage
Percentage Error Used to compare the difference between an estimate of a quantity and the actual value.
'Of' means to multiply
Discount Is a reduction in price
Sale Price The original price has been reduced Sale price =marked price - discount
Marked Price Price shown on an item ( no discount included)
Profit If Selling Price is greater than Cost Price, then a profit is made Profit = selling price - cost price
Cost Price Original price of an item. The total outlay required to produce a product/item
Loss If Selling Price is less than Cost price, then a loss is made Loss = Cost Price - selling Price
Percentage Profit = profit/cost x 100%
Percentage Loss = loss/cost x 100%
GST Goods & Services Tax. 10% Tax levied by the Australian Federal Government
Overhead Costs Refers to ongoing costs to operate a business. Excludes the direct cost associated with creating a product or service.
Created by: Tania L Kremers
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