In this blog post, we will demystify percentages, providing you with the knowledge and tools to understand and work with percentages effectively.
What is a Percentage?
A percentage is a way of expressing a number as a fraction of 100. It is denoted by the symbol "%". For instance, 50% represents 50 out of 100, or 50/100, which is equivalent to 0.5. Percentages are often used to compare quantities or to express proportions. It's essentially a ratio, but it's expressed in terms of 100.
Conversion:
- From Percentage to Fraction: To convert a percentage to a fraction, place the percentage value over 100 and if possible, you can simplify further. For example, 50% is equivalent to 50/100, which simplifies to 1/2.
- From Percentage to Decimal: To convert a percentage to a decimal, divide the percentage by 100. For example, 70% becomes 0.70 as a decimal.
- From Fraction to Percentage: To convert a fraction to a percentage, multiply it by 100. For example, 1/4 is equivalent to 25% when expressed as a percentage.
- From Decimal to Percentage: To convert a decimal to a percentage, multiply it by 100. For example, 0.45 becomes 45% as a percentage.
Finding the Percentage:
To find the percentage of a number, multiply the number by the percentage as a decimal. For example, to calculate 30% of 80, you can do: 30 % of 80 = 0.30 × 80 =24
Finding Total or Whole from Percentage:
Conversely, if you know a percentage and want to find the total or whole, you can divide the part by the percentage as a decimal. For example, if you have 30% of a number as 12, you can find the whole or total by dividing 12 by 0.3 (30% as a decimal), resulting in a whole of 40.
Percentage Increase:
Percentage Increase=((New Value−Original Value)/Original Value) × 100%
Few scenarios where Percentage Increase can be greater than 100%:
- Salary: For example, Ram's current salary is 10000. He gets a new offer from a rival company and salary they are offering is 25000. The Percentage increase is 250%
- Profit/Finance: For example, Company makes a profit of 100000 in 2023, while in 2022 its profit was 40000. The percentage increase is 150%.
Percentage Decrease:
Percentage Decrease=((Original Value−New Value)/Original Value) x 100%
Click Here to test your knowledge on Percentages.
Instructions:
- Choose Percentages from 'Select test Topic' drop down.
- Each correct selection results in 1 mark.
- Each in-correct selection results in -0.33 mark.
- All the Best
Stay tuned for the next blog !!!