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Percent Vocabulary

Math 7A 2021-2022 Percent Vocab.

TermDefinition
Sales Tax Amount of money added on to the cost of items to help pay for roads, police, fire fighters, bridges etc.
Sales Tax Rate The percent added onto the cost of items. (THE PERCENT not the dollar amount)
Gratuity (Tip) Money paid in appreciation for a service given. (waiters/ barber/ service people)
Markup Increase in the cost of an item to ensure a profit.
Discount Amount off the price of an item as a promotion.
Interest For savings account: a percentage of your money that you get from what you have (bank gives you) - Good For credit card: money they charge you based on a percent of what you spent (if you don't pay it off) - Bad Teacher Definition: (both charged and earned) Savings accounts earn interest
Principle An initial investment. (The original amount of money you put in as an investment)
Commission Money that is a percent of total sales. (cars, houses, etc.) - (making money based off what you sold) - Example: sell a $100,000 car, you get 10%, you make 10,000 from that one car.
Decimal to Percent Multiply by 100 (Example: 0.2 * 100 = 20%)
Percent to Decimal Divide by 100 (Example: 20% / 100 = 0.2)
Fraction to Percent (Method #1 - not with 100) Fraction --> decimal --> percent, attach a percent sign
Fraction to Percent (Method #2 - with 100) Use equivalent fractions to set the denominator of the fraction to 100
Percent to Fraction Put the percentage over a denominator of 100 and simplify.
Fraction to Decimal Divide numerator by denominator.
Decimal to Fraction Read the decimal the way we’re supposed to. (Put decimal over 100 and simplify - Example: 0.50 --> 50/100 = 5/10)
Created by: user-1527676
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