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Consumer Application

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Term
Definition
percent   out of 100  
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discount   a percent(part) of a purchase that is subtracted from an original price  
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tax   a percent(part) of a purchase that is paid to the government. It is added to an original price when you pay your bill.  
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tip   a percent(part) of a purchase that is paid to someone for the service they have provided. It is added to the original amount when you pay your bill.  
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markup   a percent(part) of an item that is added onto the original amount. Prices are often marked up so they can make a profit.  
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sale price   The new price after a discount has been subtracted from an original price.  
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commission   A percent(part) of a sale that the sales person gets to keep as part of his earnings.  
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