Percentages

A percentage is a part of one hundred. When we say 30 out of 100, it is written as 30%, which is the same as \frac{30}{100} = \frac{3}{10}.

If we want to find x% of a number, we use the formula: \frac{10}{100} \times. For example, to find 10% of a number, we do \frac{10}{100} \times the number. Let’s look at some examples:

1. Find 10% of 120:

2. What percentage of £360 is £54?

3. What percentage of £12 is 18 pence?

1. 10% of 120 = \frac{10}{100} \times 120 = 12.

2. We calculate \frac{54}{360} \times 100\% = 15\%

3. We should convert the figures into the same unit. We can either say £12 = 1200 pence or 18 pence = £0.18. We’ll use £12 = 1200p.

\frac{18}{1200} \times 100\% = 1.5%

So, 18 pence is 1.5% of £12.

Converting Fractions, Decimals, and Percentages

Converting between fractions, decimals, and percentages is an important skill to have when working with percentages. Let’s look at how we can carry out these conversions:

Fraction to Percentage

To convert a fraction to a percentage, multiply the fraction by 100%. For example:

Convert \frac{3}{4} to a percentage.

\frac{3}{4} \times 100 = 75%

Decimal to Percentage

To convert a decimal to a percentage, multiply the decimal by 100%. For example:

Convert 0.25 to a percentage.

0.25 \times 100 = 25%

Percentage to Fraction

To convert a percentage to a fraction, divide the percentage by 100% and simplify the fraction if necessary. For example:

Convert 75% to a fraction.

\frac{75}{100} = \frac{3}{4}

Percentage to Decimal

To convert a percentage to a decimal, divide the percentage by 100%. For example:

Convert 25% to a decimal.

\frac{25}{100} = 0.25

Examples

1. Find 5\frac{1}{2}% of £200:

2. Calculate 3\frac{1}{7}% of £2100:

3. 0.2% of a population were over 70 years old. If the population of the country was 13.1 million, how many were over 70 years old?

1. 5\frac{1}{2}% = \frac{11}{200} \times £200 = £11.

2. 3\frac{1}{7}% = \frac{22}{700} \times £2100 = £66.

3. 0.2% of 13,100,000 = \frac{0.2}{100} \times 13,100,000 = 26,200.

Real-life Applications of Percentages

Discounts

When shopping, you might encounter discounts represented as percentages. To find the discounted price, subtract the discount percentage from 100%, then multiply the result by the original price. For example:

A dress is on sale with a 30% discount. If the original price is £50, what is the discounted price?

Discounted price = (100\% - 30\%) \times £50

= 70\% \times £50 = 0.7 \times £50 = £35

Tax Rates

Tax rates are often represented as percentages. To calculate the total amount to pay, including tax, multiply the original price by (1 + \text{tax rate}). For example:

A book costs £15, and the tax rate is 5%. What is the total price, including tax?

Total price = £15 \times (1 + 0.05) = £15 \times 1.05 = £15.75

Population Growth

Population growth is often represented as a percentage increase per year. To find the future population after a given number of years, use the formula:

Future population = \text{current population} \times (1 + \text{growth rate})^{\text{number of years}}

Let’s look at an example:

A town has a population of 5,000, and the population is growing at 2% per year. What will be the population after three years?

Future population = 5,000 \times (1 + 0.02)^3 = 5,000 \times 1.061208 = 5,306

After three years, the population will be approximately 5,306.

Examples

1. In a sale, all prices have been decreased by 15%. Find the new price of a toy which costs £20.

2. Prices of cars in a showroom have increased by 25%. David bought his new car for £30,000. What was the price of David’s car before the prices increased?

3. During a sale, all prices have decreased by 15%. Find the original price of a toy which now costs £17.

4. In 2020, Jane had an annual income of £60,000, and income tax was deducted from her income at a rate of 25%. What was the amount of money Jane received after the income tax deduction?

1. 15% of £20 = \frac{15}{100} \times £20 = £3.

So the new price of the toy is £20 – £3 = £17.

2. Here £30,000 represents 125%, because the price is 25% higher. So, \frac{125}{100} of the original price = £30,000

Original price = £30,000 \times \frac{100}{125} = £24,000

3. Since prices have gone down by 15%, this means that the £17 represents 85% (100 - 15).

\frac{85}{100} of the original price = £17

Original price = £17 \times \frac{100}{85} = £20.

4. To calculate the amount of money Jane received after the income tax deduction, we can use the following formula:

Income after tax = Income before tax – (Income before tax × Tax rate)

Plugging in the values, we have:

Income after tax = £60,000 - (£60,000 \times 0.25) Income after tax = £60,000 - £15,000 Income after tax = £45,000

Therefore, Jane received £45,000 after the income tax deduction.