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Math L20

TermDefinition
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 subtracted is often a 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 of the cost of goods or services paid to the government.
Percent Per 100; a rate per 100.
Created by: user-1860859
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