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Lesson 20
| 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 interest | an percent of and 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 or services |
| 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 the number of units of one quantity for 1 unit of another quantity |
| discount | an amount taken off of and original price |
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