Percent: - A ratio whose denominator is 100, and the symbol for percent is %
Percent of Change: -A percent that indicates how much a quantity increases or decreases with respect to the original amount
-The formula for percent of change is percent equals the amount of increase or decrease divided by the original amount
Percent of Increase: -The percent of change in a quantity when the new amount is greater than the original amount Example: -Increase 54 by 25%
Percent of Decrease: -The percent of change in a quantity when the new amount is less than the original amount Example: Decrease 78 by 40%
Markup: -The increase from the wholesale price of an item to the retail price Example: - In example 1, what is the retail price of a decorative pillow that is $2.00 if the markup percent is 250%?
Discount: -The decrease from the original price of an item to the sale price
Interest: -The amount earned or paid for the use of money Example: - 6% interest on $30,000
Principal: -An amount of money that is deposited or borrowed
Simple Intrest: -Intrest that is earned or paid only on the principal -Simple intrest, I, is the product of the principal, P, the annual interest rate (write as a decimal), and the time T in years: -I=Prt - The balance A = P + Prt, or A = P(1+rt)
Annual Intrest Rate: -The percent (%) of the principal earned or paid per year
Balance: -The sum of the principals and all intrest earned
Percent:
- A ratio whose denominator is 100, and the symbol for percent is %
Percent of Change:
-A percent that indicates how much a quantity increases or decreases with
respect to the original amount
-The formula for percent of change is percent equals the amount of increase or
decrease divided by the original amount
Percent of Increase:
-The percent of change in a quantity when the new amount is greater than the
original amount
Example:
-Increase 54 by 25%
Percent of Decrease:
-The percent of change in a quantity when the new amount is less than
the original amount
Example:
Decrease 78 by 40%
Markup:
-The increase from the wholesale price of an item to the retail price
Example:
- In example 1, what is the retail price of a decorative pillow that is
$2.00 if the markup percent is 250%?
Discount:
-The decrease from the original price of an item to the sale price
Interest:
-The amount earned or paid for the use of money
Example:
- 6% interest on $30,000
Principal:
-An amount of money that is deposited or borrowed
Simple Intrest:
-Intrest that is earned or paid only on the principal
-Simple intrest, I, is the product of the principal, P, the annual
interest rate (write as a decimal), and the time T in years:
-I=Prt
- The balance A = P + Prt, or A = P(1+rt)
Annual Intrest Rate:
-The percent (%) of the principal earned or paid per year
Balance:
-The sum of the principals and all intrest earned