7th Grade Math Vocabulary

Front

What is sales tax?

Back

Sales tax is an amount set by the government that is added to the original price of an item when you buy it.

Front

What does retail cost refer to?

Back

Retail cost is what a business charges for an item.

Front

What is percent increase?

Back

Percent increase is the percent change where something gains value or increases.

Front

What is simple interest?

Back

Simple interest is interest calculated only on the original principal amount that you invested.

Front

What is percent error?

Back

Percent error is how inaccurate or wrong a measurement is compared to the correct measurement.

Front

What does it mean to add a tax to a price?

Back

It means to increase the original price by a certain percentage set by the government.

Front

How do you calculate retail cost?

Back

Retail cost is calculated by adding the cost of the item and any applicable taxes.

Front

What is the formula for percent increase?

Back

Percent increase = (New Value - Original Value) / Original Value x 100.

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal, while compound interest is calculated on the principal plus any interest earned.

Front

How do you find the original price before tax?

Back

Original Price = Total Price / (1 + Sales Tax Rate).