Business Math

Fraction

Part of a whole

Decimal

Number in base ten

Percentage

Per hundred

Fraction to Decimal Conversion

Divide numerator by denominator

Decimal to Percent Conversion

Multiply by 100

Percent to Decimal Conversion

Divide by 100

Percent to Fraction Conversion

Put over 100 then simplify

Adding/Subtracting Fractions

Find common denominator first

Multiplying Fractions

Multiply top × top, bottom × bottom

Dividing Fractions

Multiply by reciprocal (flip the second fraction)

Adding/Subtracting Decimals

Line up the decimal points

Multiplying Decimals

Multiply normally, count decimal places

Dividing Decimals

Move decimal in divisor to make it whole

Ratio

Comparison of two quantities

Proportion

Two ratios that are equal

Cross Multiplication

If a/b = c/d, then a × d = b × c

Cost Price (CP)

What you paid for the item

Selling Price (SP)

What you sell it for

Profit

SP > CP → you gain money

Loss

CP > SP → you lose money

Markup

The amount added to cost to get selling price

Markdown (Discount)

Reduction in selling price

Trade Discount

Discount given to wholesalers or retailers off the list price

Net Price

List Price - Trade Discount

Salary

Fixed regular payment

Wage

Paid per hour/day

Gross Pay

Annual Salary ÷ Number of Pay Periods

Net Income

Gross Income - Deductions

Overtime Pay

Overtime Hours × Overtime Rate