Theory:

The percentage concept plays a crucial role in our daily life. For example, we use this method whenever we buy/sell any products; we use this method to calculate all the money related transactions, we use percentage to compare the certain things to another as well.

In this chapter, we will explore the application of percentages and how we are using it to simplify the day to day calculations.

Let's recall the basics of percentage.
  • The term "percent" means per hundred(\(100\)) or for every hundred. This term has been derived from the Latin word per centum.
  • The symbol (\(\%\)) is used for the term percent.
Example:
84 percent is written as 84\(\%,\) and it means that "84 out of \(100\)". That is \(\frac{78}{100}\).
Fractional Equivalents of Commonly used Percentages:
  
\(1\)\(\%\) \(=\) \(1/100\)\(2\)\(\%\) \(=\) \(1/50\)\(4\) \(\%\) \(=\) \(1/25\)\(5\)\(\%\) \(=\) \(1/20\)
\(8\)\(\%\) \(=\) \(2/25\)\(10\)\(\%\) \(=\) \(1/10\)\(12\)\(\%\) \(=\) \(3/25\)\(15\)\(\%\) \(=\) \(3/25\)
\(16\)\(\%\) \(=\) \(4/25\)\(20\)\(\%\) \(=\) \(1/4\)\(25\)\(\%\) \(=\) \(1/4\)\(40\)\(\%\) \(=\) \(2/5\)
\(50\)\(\%\) \(=\) \(1/2\)\(60\)\(\%\) \(=\) \(3/5\)\(75\)\(\%\) \(=\) \(3/4\)\(80\)\(\%\) \(=\) \(4/5\)