What is Percentage and Why we Use it in Maths

Dear students today we have started Math subject today and in this first post of Maths section we will explore about percentages, what is percentage and how to use, where to use it etc.. So keep in touch with this post in order to learn better concept of percentages.

what is percentage

what is percentage

What is Percentage

Percentage’ signifies ‘out of a hundred.’ Percentages, like fractions and decimals, are used in mathematics to describe components of a whole. When calculating percentages, the entire is divided into a hundred equal parts. The symbol percent (%) is used to indicate that a number is a percentage, and the abbreviation ‘pct’ is used less frequently.

Percentages can be found practically anywhere: in stores, on the internet, in commercials, and in the media. Understanding what percentages mean is a critical skill that may save your time and money while also making you more employable.

 

How to Find Percentage

The general rule for finding percentage of any given whole number is:

First find given percentage of that particular whole number, then multiply it 100, simple.

what is percentage

percentages Formula

Example

Ms. Sophia purchase apple at a cost of $100 per KG. The shopkeeper discount $20. What % sophia got saved from the discount of 20$.

Solution:

As we know, the real price of apple was $100, and shopkeeper give discount of $20. So,

$100-$20 = $80.

It means sophia purchase apple at $80 per KG.

Now we use % formula to find how much its percentages.

X = discounted price/actual price x 100

X = $20/$100  x 100 = 20%

So, our answer is $20 discount is also equal to 20%.

 

Where is Percentage Used or Applied

Percentages are extensively utilized in a variety of contexts. Discounts in stores, bank interest rates, inflation rates, and numerous media data, earnings, sales, and taxation are all expressed as percentages. Percentages are essential for comprehending financial aspects of daily living.

Businesses frequently employ %, such as when determining what percentage of a product’s selling price represents profit. The percent symbol is used to represent percentages.

These all are examples of where it’s employed in accounting and finance. Percentages were employed by a number of institutions and colleges to convey student grades.

 

You May Also Like:

What are Compound Interest with Explanation

What is the Simple Interest with Formula and Example

What Time Value of Money with Example

 

Why do We Use Percentages

It is used to figure out “how much” or “how many” something is. A % number makes it easier to calculate the exact amount or figure being discussed. A comparison of fractions is made. determining if a percentage gain or decrease has occurred. It aids in the calculation of profit and loss percentages.

Students Explore help you to solve your academic problems you usually faced in school, college or universities. So if you have any query in above topic just ask in comment section given below this post and do not forge to share this post with your classmates.

 

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