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Lesson 20
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| Question | Answer |
|---|---|
| Commission | A fee paid for services, often a percent of the total cost |
| gratuity | an amount added onto 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 percent of the cost. |
| simple interest | a percent 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 the cost of goods and services paid to the government |
| percent | per 100; a rate per 100 |
| Proportional relationship | The relationship between two quantities where one quantity is a constant multiple of the other quantity |
| rate | a ratio that tells us the number of units of one quantity for 1 unit of another quantity |
| discount | an amount taken off an original price |
Created by:
GAYFURRY