Percent Problems Tax, Discount, and more Flashcards | Quizlet

What is the definition of a tip?

Money added to the total bill for the cost of a service (like a waiter)

What is sales tax?

A percentage of purchases that goes to the government

According to the notes, what percentage is added for sales tax in PA?

$$6\%$$

What is a discount?

The amount a price is reduced (money saved)

How is a percent defined in relation to a ratio?

A ratio that compares a number to $100$

What mathematical phrase describes the meaning of percent?

"divide by $100$"

What is the sales price/retail price?

The cost (amount of money you must pay) for an item you want to buy

What is wholesale price?

The amount a store pays for an item

What will a store do to the wholesale price before selling an item?

They will markup the price before they sell it

What is simple interest?

The amount you pay to borrow money, OR the amount you earn for investing money

What is an interest rate?

Percentage rate used to calculate interest

What is principal?

The amount of money borrowed, OR the amount of money invested

What is commission?

An amount paid to an employee based on a percentage of the employee's sales

What is markup?

The amount added to the cost of an item to establish the selling price/retail price

What is percent of change?

The percent a quantity changes from its original amount

What formula is provided for calculating percent of change?

$$\frac{\text{end} - \text{start}}{\text{start}}$$

How many total terms are contained in the "Percent Problems Tax, Discount, and more" set?

$$12$$

Who created the "Percent Problems Tax, Discount, and more" study set?

melanienickou

What role and badge are associated with melanienickou?

Teacher, Top creator on Quizlet

When was this study set created?

$2$ years ago

Which four games are listed under "Play your way to mastery with fun games"?

Match, Blocks, Charms, Blast

What website is credited for the Creative Commons licensed images used in this set?

Flickr.com

What service example is provided in the definition of a tip?

A waiter

To whom does the percentage of purchases from sales tax go?

The government

What is the total duration of the video shown on screen?

$$0:15$$