Quiz about 7th Grade Math Vocabulary

Question 1

What is a commission?

Accepted Answer

An amount paid to an employee based on a percentage of the employee's sales (employee gets paid some, but not all, of what s/he earned)

Answer

An amount paid to an employee per hour. (employee gets paid everything per hour)

Answer

A diploma.

Answer

A job.

Question 2

What is a discount?

Accepted Answer

The amount subtracted from the normal price of an item-another term for markdown

Answer

The amount added from the normal price of an item-another term for markdown

Answer

The amount multiplied from the normal price of an item-another term for markdown

Answer

Counting backwards.

Question 3

What is a fee?

Accepted Answer

A payment.

Answer

something you eat

Answer

A part of a house.

Answer

A credit card.

Question 4

What is interest (earned)?

Accepted Answer

Money you earn/get when investing or saving money (the money increases by a percent each month)

Answer

Money you spend/lose when investing or saving money (money you pay for having the account)

Answer

Something you are interested in.

Answer

Money.

Question 5

What is interest (paid)?

Accepted Answer

money you pay to borrow money for a loan or to use a credit card

Answer

something you are interested in

Answer

money

Answer

money you get to borrow money for a loan or to use a credit card

Question 6

A markup is the amount _________to a price of an item, so the business can make a profit

Accepted Answer

added

Answer

subtracted

Answer

multiplied

Answer

divided

Question 7

A percent decrease is the percent change where something loses value, or goes_________

Accepted Answer

down

Answer

change

Answer

percent

Answer

up

Question 8

A percent error is how _________ a measurement is compared to the correct measurement

Accepted Answer

inaccurate/wrong

Answer

accurate/right

Answer

percent

Answer

increase

Question 9

What is the definition of percent increase?

Accepted Answer

The percent change where something gains value or increases

Answer

The percent change where something loses value or decreases

Answer

It is a percent

Answer

The subtraction of percents

Question 10

The percent of change is the percent a quantity increases or __________ from its ________ value

Accepted Answer

decreases, original

Answer

original, decreases

Answer

multiplies, adds

Answer

divides, subtracts

Question 11

The principal amount is the amount a person has _____________and has to________back

Accepted Answer

borrowed, pay

Answer

subtracted, pay

Question 12

What is a rate?

Accepted Answer

The percent of interest charged or paid

Answer

The adding of interest charged or paid

Answer

The subtracting of interest charged or paid

Question 13

Retail cost is what a business ________for an item

Accepted Answer

charges

Answer

gives

Answer

subtracts

Answer

multiplies

Question 14

Sales tax, when you buy something, is an amount that is set by the government and______________onto the original price

Accepted Answer

added

Answer

rate

Answer

subtracted

Answer

multiplied

Question 15

Sales tax rate is the ________of an amount that is added to the cost of an item

Accepted Answer

percent

Answer

principal

Answer

interest

Question 16

Simple interest is interest on the ___________principal amount (that you invested)

Accepted Answer

original

Answer

rate

Answer

percent

Question 17

A tip/gratuity (grah-too-it-ee) is an amount ________to an employee that is usually based on the _______of the item or work

Accepted Answer

given, price

Answer

rate, percent

Question 18

Wholesale cost is the amount a business ______ for an item it plans to sell

Accepted Answer

pays

Answer

percent

Answer

interest

Answer

rate

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