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Percents

Percents. A ratio or comparison of a quantity to 100 Part/whole = n/100= n% 48 out of 100 = 48/100=48%. Fractions, Decimals, Percents. To rename a percent as a fraction: Write the percent as a fraction with the denominator of 100. Rewrite in simplest form

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Percents

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  1. Percents • A ratio or comparison of a quantity to 100 • Part/whole = n/100= n% • 48 out of 100 = 48/100=48%

  2. Fractions, Decimals, Percents • To rename a percent as a fraction: • Write the percent as a fraction with the denominator of 100. • Rewrite in simplest form • To rename a percent as a decimal: • Remove the percent symbol • Move the decimal two places to the left

  3. To rename a decimal as a percent: • Move the decimal 2 spaces to the right • To rename a fraction as a percent: • Divide the numerator by the denominator • Write the decimal as a percent OR • Use a proportion using the fraction as one term and x/100 as the other

  4. Percents greater than 100% and less than 1% • Renaming fractions greater than 1 as percents: • Write as an equivalent decimals (divide) • Write as a percent (move 2 spaces to the RIGHT) OR • Write a proportion • Renaming percents as decimals or fractions: • Decimal: move decimal 2 spaces to the LEFT • Mixed number: write as a fraction with a denominator of 100. REDUCE

  5. Renaming decimals less than 1% • Renaming a decimal as a percent: • Move 2 spaces to the LEFT OR • Rename as a fraction with 100 as the denominator • Renaming fractions as percents: • Rename as a decimal and move 2 spaces to the RIGHT OR • Write a proportion and solve

  6. Finding Percentage, Base and Percent • The “is” stands for the percentage, or part, that is being compared to the whole quantity. • The “of” is the whole quantity or the base.

  7. Percent increase

  8. Percent Change • The ratio comparing a change in a quantity to the original amount. • Percent change= amount of change/original amount

  9. Percent Increase • Write an equation • Percent increase = amount of increase/original amount • Write/solve a proportion • Amount of increase/original amount = percent increase (%) / 100

  10. Find the percent increase from 12 to 15 • Equation • Amount of increase / original amount = percent increase • 15-12 =3  amount of increase • Original amount = 12 • 3/12 = .25 = 25% • Proportion • Amount of increase / original = percent increase / 100 • 3/12=x/100 • 12x=300 • X=25

  11. Find the percent increase from 40 to 45

  12. Amount of Profit • Cost- original amount spent for an item • Profit- the money gained when an item is sold at cost • To find the amount of profit: • Multiply the original cost by the percent profit

  13. A company buys microwave ovens for $200 each then sells each at a gain of 15%. What is the company’s profit? • Write an equation • P = .15 x 200 • P = $30.00 • Write/solve a proportion • Profit / original = percent profit (%) / 100 • P/200 = 15/100 • 3000 = 100p • P = $30

  14. Selling Price • Selling price- the amount for which the item is sold. Add the profit to the cost to find the selling price. • A video dealer imports large flat screen TVs for $1200 each. The dealer then sells each TV at a profit of 30%. What is the selling price? • SP = $1200 + (30% of 1200) • SP = $1200 + (.30 x 1200 = $360) • SP = $1200 + $360 • SP = $1560

  15. Sales tax- amount of tax added to the marked price by state or local government. • Write an equation • Sales tax rate x marked price = sales tax • Set up/solve a proportion • Sales tax / marked price = sales tax rate (%) / 100

  16. A calculator is priced at $29.95 with a sales tax of 6%. What is the amount of sales tax to the nearest cent? • Equation • .06 x 29.95 = 1.797 = $1.80 • Proportion • t/29.95 = 6/100 • 100t=179.70 • T-1.7970 = $1.80

  17. Discount • Discount = discount rate x list price • Sale price = list price – discount • Discount rate = amount of discount / list price

  18. Markup • Markup = list price – wholesale price • Markup rate = markup / wholesale price • Markup rate is expressed as a percent

  19. Commission-Amount of money earned for selling goods or services. • Equation • Commission = commission rate x total sales • Write/solve proportion • Commission/total sales =commission rate (%) / 100

  20. 6% commission on $25,000 in sales • .06 x 25,000 = • x/25,000 = 6/100 =

  21. 6% commission on $25,000 in sales • .06 x 25,000 = $1500 • x/25,000 = 6/100 = $1500

  22. $1755 earned on $92,000 in sales • C x 92,000 = 1755 • 1755/92000 = x/100

  23. $1755 earned on $92,000 in sales • C x 92,000 = 1,755 • C=about 1.9% • 1755/92000 = x/100 • C=about 1.9%

  24. Simple Interest • Principal (p)- amount of money borrowed or deposited • Interest (I)- amount earned or paid in exchange for the use of money • Rate of interest (r)- percent of interest earned or paid • Time (t)- how long in years the principal is borrowed or left on deposit. • Simple interest- interest earned or paid only on the principal for a stated period of time

  25. Interest = principal x rate x time • I=prt Time is expressed in years or fractional part of a year

  26. Find the simple interest (I):$800 at an annual rate of 8% for 9 months • I=prt • I=(800)(.08)(9/12) • I= $48

  27. Compound Interest • Compound interest- interest paid on the principal and on the interest accumulated to date. • balance

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