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mod. 2 vocab
| Term | Definition |
|---|---|
| amount of error | the positive distence between the estament and the actaul amount |
| commission | a payment equal to a percent of an amount of goods of survives that an enployee sells for the company |
| discount | the amount by which the regular price of an item is reduced |
| fee | a payment for a survice. it can be fixed amount a percent or both |
| gratuity | also kown as tip it is a small amount of mouny in return in a survice |
| interest | the amount paid or earned for the use of the pricable |
| markdown | an amount by which the reguar price of an item |
| markup | thn amount the price of an item is incressed above the price the store |
| percent error | a ratio that compares the inacciacy of an estamate 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 decrease | a negative percent of change |
| percent of increase | a positive percent of change |
| principal | the amount of money deposited or borrowed |
| sales tax | an additional amount of money charged on an item that people buy |
| selling price | the amount the custmer pays for an item |
| tip | also kown as a gratuity, it is a small amount of money in return for a survice |
| simple interest | the amount paid or earned for the use of money. the formula for simple interest is I=prt |
| wholesale cost | the amount the store pays for an item |
Created by:
user-1982155