To the OP: I don't have a specific reason as to the difference in battery usage since it could have been caused by a number of things including:
- iCloud backup
- A specific app requesting some background process
- Poor signal strength causing the battery to drain faster while streaming Pandora
- Pandora causing an issue (I have no idea how they handle streaming/buffering)
- etc...
In terms of iOS multitasking:
When you click the Home button the application is suspended - it's state is saved and it no longer has access to any system resources. The OS even enforces a time limit for tasks you can perform when the app is closed. Unless the app specifically requests more time for a task the OS suspends it.
Apps can use the multitasking API to perform background operations (e.g. streaming music, observing location changes) before it's suspended. However, the app is not actually "running" even when using the multitasking API. In the case of location changes the app is notified when the user's location is updated and has a small window of time to perform a task before the OS cuts it off.