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# 7.4

### Unit Vocabulary

TermDefinition
Percent a special ratio that means “per hundred” or percent/100. % is the symbol for percent. Percents can be written as decimals or fractions.
Commission A fee paid for services, usually a percentage of cost. Fields that often work on commission include real estate agents and sales of large items (car, furniture, electronics, art, etc.).
Discount A price reduction. Sometimes given as a dollar amount OR in percent, such as a 10% discount. When given a percent you need to do a calculation to find the price reduction. Subtracted from the original price.
Tax Money the government collects based on income, sales, and other activities. Sales tax is given in a percent, so you need to do a calculation to find the amount of tax paid. Added to the original price.
Tip Money given to someone who provides a service. It is based on a percent of money spent, so you need to do a calculation to find the amount of a tip. Added to the original price.
Percent Change Describes the change over time by either an increase or decrease. Change can be represented by the difference (subtract) between the new and original values.
Percent increase describes percent of change in which something gains value.
Percent decrease describes percent of change in which something loses value.
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