PERCENTS OF NUMBERS AND MONEY AMOUNTS
Percents of Numbers and Money Amounts :
In this section, we will learn how to find percentage of a number and also money amounts.
Percents of Numbers and Money Amounts - Examples
Example 1 :
Find the 20% of $50.
Solution :
20% of $50 = 0.2 ⋅ 50
20% of $50 = 10
Example 2 :
Find the 50% of $80.
Solution :
50% of $80 = 0.5 ⋅ 80
50% of $80 = 40
Example 3 :
Find the 23% of $80.
Solution :
23% of $80 = 0.23 ⋅ 80
23% of $80 = 18.4
Example 4 :
Find the percent of 20 minutes in 1 hour.
Solution :
To answer this question, both the given quantities must be in same units.
Here, one of the quantities is in minutes and other one is in hour.
So, convert 1 hour into minutes.
1 hour = 60 minutes
Percent of 20 minutes in 1 hour (60 minutes) is
= (20 / 60) ⋅ 100%
≈ 33.33%
Hence, the percent of 20 minutes in 1 hour is about 33.33.
Example 5 :
What percent of 15 inches in 5 feet ?
Solution :
To answer this question, both the given quantities must be in same units.
Here, one of the quantities is in inches and other one is in feet.
So, convert 5 feet into inches.
1 feet = 12 inches
5 feet = 5 ⋅ 12 inches
5 feet = 60 inches
Percent of 15 inches in 1 feet (60 inches) is
= (15 / 60) ⋅ 100%
= 25%
Hence, the percent of 15 inches in 5 feet is 25.
Example 5 :
An item is marked up by 30% and then 10% discount is allowed from the marked up price. Find the profit percentage.
Solution :
Let $100 be the cost price of the item.
After 30% mark up, the price of the product is
= 1.3 ⋅ 100
= $130
After 10% discount, the price of the product is
= 0.9 ⋅ 130
= $117
So, the selling price of the product is $117.
The cost price of the product is $100 and the selling price is $117.
Percentage increase from 100 to 117 is 17.
Hence, the profit percentage is 17.
After having gone through the stuff given above, we hope that the students would have understood, how to do problems on percents.
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