Percent Vocabulary

Front

What is Income Tax?

Back

A personal tax collected on annual income.

Front

What is a mark down?

Back

A reduction from the original selling price (long term).

Front

What is Mark-Up?

Back

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

Front

What is a discount?

Back

A reduction in price.

Front

What is Percent Proportion?

Back

An equation used to calculate percent problems: part/whole = % Number/100.

Front

What does 'Finding the Part' mean in percent problems?

Back

Calculating a specific portion of a whole based on a percentage.

Front

What does 'Finding the Whole' mean in percent problems?

Back

Determining the total amount when a part and its percentage are known.

Front

What is a sale price?

Back

The final price after discounts have been applied.

Front

What is a commission?

Back

A fee paid to an agent or employee for services rendered, often calculated as a percentage of sales.

Front

What is Sales Tax?

Back

A tax imposed on sales of goods and services, usually calculated as a percentage of the sale price.