In this topic, students will:
understand that equivalent rates can be used to find percents
analyze percents of numbers in a real-world context
construct a percent proportion
use a percent proportion to find an unknown part, whole, precent
understand the relationship between proportional reasoning and percent
interpret the results of a percent equation in a real-life scenario
solve real-world problems involving percent change and percent error
understand the percent equation and the different ways it can be used
understand and calculate markups and markdowns
relate percent change to percent markups and markdowns
identify the parts of interest problems and how the values are related
understand what simple interest is and how it is calculated
Vocabulary:
Percent equation - The percent equation enables you to find a part or ratio of an amount (or whole).
Percent change - how much a quantity has changed relative to its original amount
Percent error - the accuracy of a measured or estimated value compared to its actual value
Markup - the difference between the selling price of a product and the cost price
Markdown - the decrease from the original price of an item to its sale price
Percent markup - the markup as a percent increase from the original cost
Percent markdown - the markdown as a percent decrease of the original price
Interest rate -Â a percent used to calculate interest on the principal
Principal - an initial amount of money that is deposited in an account
Simple interest - the interest charge on borrowing that's calculated using an original principal amount only and an interest rate that never changes