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L20
| Question | Answer |
|---|---|
| Commission | a fee paid for services, often a percent of the total cost |
| gratuity | an amount added on to the cost of a service often a percent of the total cost, often referred to as a tip |
| markdown | an amount subtracted from the cost of an item to determine the final price, the amount subtracted is often a percent of the cost |
| markup | an amount added to the cost of an item to determine the final price, the amount added is often a percent of the cost |
| Simple intrest | a recent of an original amount that is borrowed or invested, paid at the end of a set period of time |
| Tax | A percent of income or of the cost of goods services paid to the government |
| Percent | per 100 a rate per 100 |