Lesson 20 Vocabulary

What is a fee paid for services, often a percent of the total cost?

• Gratuity

• Commission

• Tax

• Markdown

What is an amount added to the cost of a service, often referred to as a tip?

• Commission

• Markdown

• Gratuity

• Simple Interest

What term describes an amount subtracted from the cost of an item to determine the final price?

• Markup

• Tax

• Markdown

• Percent

What is an amount added to the cost of an item to determine the final price?

• Markdown

• Markup

• Gratuity

• Simple Interest

What is a percent of an original amount that is borrowed or invested, paid at the end of a set period of time?

• Tax

• Commission

• Simple Interest

• Gratuity

What is a percent of income or of the cost of goods or services paid to the government?

• Commission

• Tax

• Markup

• Markdown

What does the term "percent" mean?

• Per 10

• Per 50

• Per 100

• Per 1000

What is a proportional relationship?

• A relationship where two quantities are equal

• A relationship where one quantity is a constant multiple of the other

• A relationship where two quantities are unrelated

• A relationship where one quantity is always greater than the other

What does the term "rate" refer to?

• A fixed amount added to a price

• A ratio that tells the number of units of one quantity for 1 unit of another quantity

• A discount applied to a product

• A constant value in a mathematical equation

What is a discount?

• An increase in the original price

• An amount added to the original price

• An amount taken off of an original price

• A fixed price for a product