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Math Ch 2 Vocab
| Question | Answer |
|---|---|
| discount | The amount by which the regular price of an item is reduced. Also known as a markdown. |
| gratuity | Also known as a tip. It is a small amount of money in return for a service. |
| markup | The amount the price of an item is increased above the price the store paid for the item. |
| percent equation | An equation that describes the relationship between the part, whole, and percent. (part = percent × whole) |
| percent error | A ratio that compares the inaccuracy of an estimate (amount of error) to the actual amount. |
| percent of change | A ratio that compares the change in a quantity to the original amount. (percent of change = amount of change over original amount) |
| percent of decrease | A negative percent of change. |
| percent of increase | A positive percent of change. |
| percent proportion | One ratio or fraction that compares part of a quantity to the whole quantity. The other ratio is the equivalent percent written as a fraction with a denominator of 100. (part over whole = percent over 100) |
| principal | The amount of money deposited or borrowed. |
| sales tax | An additional amount of money charged on items that people buy. |
| selling price | The amount the customer pays for an item. |
| simple interest | The amount paid or earned for the use of money. The formula for this is I = prt. |
Created by:
CoachD
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