Understanding The Concepts Of Percentage In A Simple Way

The percentage formula is one of the most crucial tactics used in the calculation. If mastered well, not only can you score good marks in exams but in real-life as well. percentage formula allows you to find the value of measurement out of 100. It becomes very hard to compare items without a reference point. This is because people cannot understand the total value in all situations. If someone asks you how many portions of land America covers in the world, you cannot tell. This is because you won’t know the exact area of the entire land on the earth. But you can easily represent with the help of percentages and create an approximation.

How to Find the Value of Percentage?

You can apply these techniques to find the percentage of a substance:

• Visualize: This is an easy way that beginners use to understand. In this process, you have to represent the entire diagram with a circle. The total parts present in this circle are supposed to be hundred percent. In this pie chart, you can mark small divisions according to your question. This will show how much percentage of the diagram you want to depict. For example, you can represent the number of elements present in our earth with this process.

• The entire value: In questions, you won’t get the representation of a diagram all the time. In some cases, you will have to find the percentage from a set of data. You will have the portion of the data and the total amount as well. Otherwise, you may have portions that add up to a hundred. Understand these circumstances to proceed with the sum in your exam. Take an example of the number of biscuits present in a box is 20. If someone takes out 10 of them you have to calculate the remaining percentage of biscuits. Solve the question and your final answer will come out to be 50 percent.

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Use of Percentage in Simple Interest

This is one of the most common places where people use percentage. Lending money to someone or getting a loan involves much calculation. This is the stage when you have to get a brief idea about this topic. There remains a fixed amount that you have taken from the bank known as the principal. When you take a loan an interest rate gets added to it yearly or monthly. This rate is given in the form of a percentage only. You will see that many banks fix their rates in advertisements to gain customers. After a few years, the final amount that you get from this process is what matters.

For calculating the interest you need to find out the decimal of the rate. Suppose the rate that is present in your question is 5 percent. Then you have to divide with 100 and get the decimal as 0.05. Then you have to multiply it with the principal value to get a solution. But this won’t be the answer to the question you have. You have to multiply this value by the number of years the bank will add the interest. In this way, you can find how much interest you had to pay for the loan you took.

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Other Uses

Besides these percentage is used in places of markets and advertisements. You have to find the price with the rate of discount in the same way. It is used to depict the amount of charge present in laptops and phones as well. In basic words, the percentage helps us to visualize the rate of comparisons in a better way.

The topic of percentage is connected with several other chapters in Mathematics. If you want to stay updated you need to take notes from math classes in Cuemath.