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Topic 4 Standards
7.R.1.a Decided whether two quantities are in a proportional relationship (e.g., by testing for equivalent ratios in a table).
7.R.1.b Represent and solve authentic problems with proportions.
7.R.1.c Use proportional relationships to solve authentic percent problems (e.g., % increase, % decrease, mark-up, tip, simple interest).
Topic 4 Vocabulary
Percent Equation
An equation used to find a part, percent, or whole. A common form is part = percent × whole.
Percent Change
The percent increase or decrease from an original amount to a new amount.
Percent Error
The percent difference between an approximate or measured value and the actual value.
Markup
An amount added to the original cost of an item to determine its selling price.
Markdown
An amount subtracted from the original price of an item to determine its sale price.
Percent Markup
The percent of the original cost that is added to determine the selling price.
Percent Markdown
The percent of the original price that is taken off to determine the sale price.
Principal
The original amount of money deposited, invested, or borrowed before interest is added.
Interest Rate
The percent of the principal that is earned or charged as interest over a given period of time.
Principal
The original amount of money deposited, invested, or borrowed before interest is added.
Simple Interest
Interest that is calculated only on the original principal. The formula is I = Pr, where I is interest, P is principal, and r is the interest rate.
Always, Sometimes, Never
Percent Change
Discount Wars
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