Percent Vocabulary

Front

What is a commission?

Back

A fee paid based on a percentage of the sale made by an employee or agent.

Front

What is a discount price?

Back

The price of an item after a discount is applied.

Front

What is a mark-up?

Back

An amount added to the cost price of goods to cover overhead and profit.

Front

What does mark-up mean?

Back

An increase in the price of an item.

Front

What is a discount?

Back

To deduct or subtract from a cost or price.

Front

What is the formula to calculate a percentage?

Back

(Part/Whole) x 100.

Front

What is sales tax?

Back

A percentage added to the price of goods or services, collected by the seller.

Front

What is the difference between mark-up and mark-down?

Back

Mark-up is an increase in price, while mark-down is a decrease in price.

Front

How do you calculate the final price after a discount?

Back

Final Price = Original Price - (Discount Percentage x Original Price).

Front

What is the purpose of a discount?

Back

To encourage sales by reducing the price of an item.