Percent Vocabulary

Front

What is profit?

Back

Money the business keeps after paying operating expenses.

Front

What does it mean to apply a discount?

Back

To deduct or subtract from a cost or price.

Front

What is the Percent Proportion formula?

Back

An equation used to calculate percent problems: part/whole = % Number/100.

Front

What is a gratuity or tip?

Back

A small sum of money given to someone for performing a service (e.g., waiters, hairdressers).

Front

What is a mark down?

Back

A reduction in the original price, often referred to as a discount.

Front

What is a commission?

Back

A fee paid to an agent or employee for conducting a transaction or sale.

Front

What is sales tax?

Back

A tax imposed on sales of goods and services, usually calculated as a percentage of the sale price.

Front

What is a mark-up?

Back

An increase in the price of a product, often added to the cost to determine the selling price.

Front

How do you calculate the percent of a number?

Back

Multiply the number by the percent (as a decimal) to find the part.

Front

What is the whole in a percent problem?

Back

The total amount or quantity that is being considered.