7.RP.A.3: Definitions, Key Concepts & Examples

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Proportional Relationship

Back

A relationship where two quantities increase or decrease at the same rate.

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Ratio

Back

A comparison of two quantities by division.

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Percent

Back

A ratio that compares a number to 100.

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Simple Interest

Back

Interest calculated on the principal amount only.

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Tax

Back

A percentage added to the cost of goods or services.

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Markup

Back

An increase in price.

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Markdown

Back

A decrease in price.

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Gratuity

Back

A tip given for services, usually a percentage of the bill.

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Commission

Back

Earnings based on a percentage of sales.

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Fee

Back

A fixed charge for a service.