Using the percentage formula, we can obtain the amount or share of something in terms of 100. Percent is the simplest form of a percent. This formula is used when a number between 0 and 1 is expressed as a percent. A percentage is a number represented as a fraction of 100, denoted by the symbol %. It is used primarily for comparing and finding out ratios.
In our daily lives, we often use the concept of percentages to describe portions of a whole as numbers between zero and 100, rather than fractional parts. In this topic, we will discuss the percentage formula and give examples. Thus, everything is 100 percent. Sometimes to calculate discounts on prices, a percentage formula is very useful.
Concept of percentage:
By dividing the quantity by the whole and multiplying by 100, we can determine the ratio of the quantity consumed to the total quantity. For example, if we ate two pieces out of an eight-piece pie, then we could determine the ratio of quantity consumed to the total quantity. We will divide 2 by 8 to get o.25, then multiply o.25 by 100 to get 25 percent. A percentage may also mean a portion of something, but only when it relates to money. If we buy furniture, then the salesman takes a share.
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As a measure of how much a security’s price has changed over time, percent change represents a degree of change over time and can be used in many contexts in finance. Positive values indicate positive changes and negative values indicate reductions. A percentage value applies to any quantity measurable over time.
The percentage formula:
The percentage means 10% and its sign is “%”. Therefore, 10% is read as 10 percent. Therefore, any fraction with the denominator 100 is called a percentage. For example, 30% means 30/100 (one-third of 100). This can also be written as 0.30.
The following formula can be used to determine P% of Q:
P/100 × Q
Here we should remember that P% of Q equals Q% of P
How can you find percentage value:
- A percentage is a representation of part of a whole. When you see a percentage, you get a visual representation of that part of the whole.
- Calculate the value of the whole first
- To convert a value into a percentage, we need to find its value.
- Once the two values are converted into fractions, the fractions are converted into decimal equivalents.
- The final step involves converting the decimal into a percent.
Tips to keep in mind while calculating percentages:
- When something is changed from p to p times its previous value, then the percentage increase will be (p−1)×100
- In the case of an increase of quantity n by k%, the following will happen:
New quantity = n×(1 + k/100)
- The new quantity for a quantity p that has been decreased by k% is:
p(1–k/100)
- For calculations of percentage increases or decreases, it is best to use the formula to calculate percentage increases. Positive values indicate percentage increases while negative values indicate percentage decreases.
Examples:
A class has 100 students. Among them, 60 are females. Estimate the percentage of female students.
Total number of students in the class = 100
Girls in the class = 60
% of girls in the class = (60/100) × 100 = (6000⁄ 100) = 60%
40% of the number is 160. What will be 99 % of the same number?
Let the number be x.
Given here, 40/100 × x=160
i.e. x = 400
Now, 99 % of 400
= 99/100 × 400
= 396
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