Unit 5 lesson 20 vocabulary

Front

commission

Back

a fee paid for services, often a percent of the total cost.

Front

Gratuity

Back

an amount added on to the cost of a service, often a percent of the total cost. Gratuity is often referred to as a tip.

Front

Markdown

Back

an amount subtracted from the cost of an item to determine the final price. The amount subtracted is often a percent of the cost.

Front

Markup

Back

the amount added to the cost of merchandise to establish the selling price

Front

simple interest

Back

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

Front

tax

Back

a percent of income or of the cost of goods or services paid to the government.

Front

discount

Back

The amount by which the regular price of an item is reduced.