Proportional Relationships Vocabulary

a percent added to the cost of an item to determine the selling price

• markup

• gratuity

• discount

• simple interest

a percent of an amount borrowed that is paid to the lender in addition to the amount borrowed

• markup

• gratuity

• simple interest

• tax

a percent of a purchase that is added to the purchase and paid to government

• markup

• simple interest

• gratuity

• tax

a percent added to the cost of a service, for example a tip given to a waiter

• markup

• gratuity

• discount

• tax

a percent of a sales amount awarded to the person making the sales

• gratuity

• tax

• discount

• commission

a subtraction from the original cost of something

• discount

• tax

• simple interest

• commission

Tip is a percent of a purchase that is added to the purchase and paid to a government

• True

• False

Simple interest is a percent of an amount borrowed that is paid to the lender in addition to the amount borrowed

• True

• False

Tax is a percent added to the cost of an item to determine the selling price

• True

• False

Discount is a percentage subtracted from the cost of an item.

• True

• False