Math

Salary

This is the fixed amount of money an employee earns for work performed.

Annual Salary

This is the total amount earned in one year.

Monthly Salary

This is the amount earned in one month.

Weekly Wage

This is the amount earned in one week.

Daily Wage

This is the amount earned in one working day.

Hourly Rate

This is the amount earned for each hour worked.

Inflation

This is the continuous increase in the general prices of goods and services. This decreases the purchasing power of money.

Mark-up

This is the amount added to the cost price to determine the selling price.

Discount

This is the amount deducted from the original price of an item.

Original price

This is also called the marked price or list price.

Selling price

This is the amount paid after the discount is deducted.

VAT (Value-Added Tax)

This is a tax imposed on the sale of goods and services.

VAT-exclusive price

Does not include VAT.

VAT-inclusive price

Already includes VAT.

Profit

Occurs when the selling price is greater than the cost price.

Loss

Occurs when the selling price is less than the cost price.

Gross Income (Gross Pay)

This is the total earnings before deductions.

Net Income (Net Pay)

This is the amount received after all deductions have been made.

Deductions

These are amounts subtracted from the gross income.

Pattern

this is an arrangement of numbers, shapes, or objects that follows a rule.

Repeating Pattern and Growing Pattern

What are the types of Patterns

Repeating Pattern

This repeats the same arrangement.

Growing Pattern

This increases or changes according to a rule.

Sequence

This is an ordered list of numbers that follows a specific rule.

Fibonacci sequence

This is formed by adding the two previous terms to obtain the next term.

Algebraic rule

This uses a variable (usually n) to generate the terms of a sequence.

Verbal rule

This describes in words how each term in a sequence is formed.

Leonardo Pisano Fibonacci (Leonardo of Pisa)

Who created the Fibonacci sequence?

Salary= fixed amount wage= earned or paid by the hour

Difference between Salary and Wage?