How do we use rate, percentage and base in our daily life?
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How do we use rate, percentage and base in our daily life?
How do we use rate, percentage and base in our daily life?
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Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages. ... Percentage is another way to write fractions with a denominator of 100. For example, 8% means .
A rate is a ratio that compares quantities in different units. Rates are commonly found in everyday life. The prices in grocery stores and department stores are rates. Rates are also used in pricing gasoline, tickets to a movie or sporting event, in paying hourly wages and monthly fees.
Every financial transaction you have uses some kind of math. You use basic addition and subtraction when you buy groceries. When you leave a tip, you calculate percentages. You use more complex equations involving fractions and percentages when you create a monthly budget.
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