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Vocabulary 1
Vocabulary 2
Vocabulary 2+
Practice 1
Practice 2
100
What is a percent?
A ratio that is equivalent to part/whole, but compares a number to 100.
100
What is commission?
The amount of money someone receives for making a sale. It is figured as a percent of a total sale price.
100
What is the interest rate?
The money paid to either borrow or loan money.
100
What is the equation to find the balance?
balance = principal + interest
100
A down-in-the-dumps drummer scours the internet for a new kit to improve his mood and swing. Based on buyers' reviews, which kit should he get? How did you decide? Kit 1: Kit 2: 9 of 13 15 of 21 buyers love this! buyers love this!
Kit 1: Kit 2: 9 / 13 =69 % 15 /21 = 71% Kit 2 because more people like it.
200
What is a percent equation?
The proportional relationship represented by a constant percent (y=mx). part = percent * (whole)
200
What is the definition of taxes?
Money owed to the government, which are figured as a percent of earnings or sales.
200
What is the principal?
The percentage of interest you earn for a time period of a year.
200
What is simple interest?
The interest paid only on a principal.
200
U.S. savings bonds pay 1.4% interest. You purchase $750 in savings bonds and hold them for 2.5 years. Which statements are true? A. I = 1.4% B. p = 750 C. r = 26.25 D. t = 2.5
A B D
300
What is percent of change?
The percent something increases or decreases from its original measure.
300
What are tips?
Money given to workers in the service industry. For waiters, it is a percent of the total meal price.
300
How is the percent of change calculated?
It is calculated as the ratio change/original.
300
What is the equation to find the simple interest?
simple interest = (principal) * (rate) * (time)
300
You pay $3.50 per gallon including taxes for 15 gallons of gas. Federal and state taxes make up 14% of the total cost. How much do you pay in gas taxes.
$3.50 * 15 = $52.50 $52.50 * .14 = $7.35
400
What is the definition for markup?
The amount of increase from the original cost to the selling price.
400
What is the definition of balance?
The total amount of money that you have, or that you owe, in an account.
400
What is the equation to find the commission?
commission = percent * (sales price)
400
Which of the follow is/are true? I. 7 is 50% of 14. II. 28 is 14% of 200 III. 6 is 40% of 14. IV. 40% of 35 is 14
I II IV
400
At a real estate agency, a real estate agent sold a house for $345,000. Her commission rate is 3%. How much did the real estate agent earn on the house?
$345,000 * .03 = $10,350
500
What is the definition of markdown?
The amount of decrease from the original selling price to the sale price.
500
What is interest?
The money paid to either borrow or loan money.
500
What is the equation to find taxes?
taxes = percent * (earnings or spendings)
500
A shoe store is having in a closeout sale. All the prices are 80% of the original price. The shoes you want originally cost $40. Find the sale price of the shoes.
$40 * .20 = $8 or $40 * .8 = $32 $40 -$8 $32
500
The total bill at a restaurant equals $65.38. The waiter typically receives a tip equal to 15% of the total bill. He is given a $13 tip. Should he be happy with the amount of the tip? Why?
$65.38 *.15 =$9.81 15% of the total is $9.81. The waiter should be happy because he received over 15% tip.