how important is your knowledge in defining percentage,rate or percent to you
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how important is your knowledge in defining percentage,rate or percent to you
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Answer:
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. Percentages are important for understanding the financial aspects of everyday life.
Much of what we buy in the shops has a 10% Goods and Services Tax (GST) included in the price. The GST is a tax of one dollar for each ten dollars in the price of the item.
Percentages are a useful way of comparing fractions with different denominators. Percentages give information which is often easier to understand than fractions. For example a statement such as ‘C2t8.pdf of a popluation have brown hair’ is quite difficult to interpret, while the statement ‘60% of a population have brown hair’ is easier to understand ( ≈ 59%).
Explanation
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The symbol for percent is % and its similarity to /100 reminds us of its meaning. Percentage is another way to write fractions with a denominator of 100. For example, 8% means .
Thus, 25% = C2t11.pdf 99% = C2t12.pdf 150% = .
To understand percentages, we need only remember that percent means ‘out of one hundred’.
A square that has been cut into 100 smaller squares can be used to model percentages.
If we colour any three of them, we say that ‘3 out of a hundred’ or ‘3 percent’ are coloured in.
We can write = 3%.
If we colour 50 of them, we say that ‘50 out of a hundred’ or ‘50 percent’ are coloured in.
We can write C2t17.pdf = 50%. This is equivalent to .
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