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Back to Percentages Units

Percentages are an important part of our everyday lives.  Percentage is a very handy way of writing fractions. Percentages can be compared more easily than fractions. Shops advertise discounts on products.  These discounts are percentages. "Up to 50% off marked prices" Financial institutions quote interest charged to the client on loans, or interest paid for money invested, as a percentage. "Housing Loans-4.95% p.a. for the first 12 months" Interest paid may be as Simple Interest or Compound Interest. Companies describe their success or failure as an increase or decrease in profit levels. "C-Company profit down by 15% for the last financial year" A salesperson may be given a commission as payment for selling goods.  The commission can be a percentage of the sales made. "Position Vacant:  20% commission on all sales to the successful applicant." Articles such as antiques or jewellery may increase in value as time goes by-appreciation. Items such as equipment and machinery usually decrease in value-depreciation

Examples

 

 

Example 1

Example 2

Example 3

Example 4

Example 5

 

 

 

 

 

Example 1 Discount/Markup Discount can be written as a percentage of the marked price. Find the sale price if 15% discount is allowed off marked price of $25.00         Example 2 Percentage Increase/Decrease Last year a ticket to the football was $11.00.  This year the price has been increased by 10%.  What is the price of a ticket this year?         Example 3 Bank Interest This is an  example of Simple Interest(see below for Compound Interest) What interest will be paid on a deposit of $200 at 4% p.a. after a)   1 year b)   3 years       Example 4 Sometimes Compound Interest is paid instead of Simple Interest. Each year the interest is worked out using the Principal + Interest, where in this case the Principal is the $200 and in the first year the Interest is the $8.00 at the rate of 4% per annum. 2nd Year:         Example 5 Commission A salesman is on a commission rate of 5%.  How much commission does he make on sales worth $1500?

 

 

Have a Go Problem 1 Concession card holders pay $1.20 for a 2 hour Met ticket.  Full fare is $2.30.   What is the percentage discount for concession card holders?   Problem 2 A jumper has been reduced by 25%.  The original price was $40.00.  What is the new price?

Practice Questions Question 1 Find the Simple Interest for two years on $100 at 6% p.a.. answer $12 Question 2 Find the Compound Interest for two years on $100 at 6% p.a.. answer $12.36   Question 3 A person buys a car for $1500 and sells it for $1250.  a) What is the loss as a percentage of the selling price? b) What is the loss as a percentage of the cost price? answer (a) 20% (b) 16.6 %   Question 4 How much is 2.5% commission on $400? answer $10   Question 5 A discount of $90 was given on a microwave oven marked at $270. Find a) the price paid b) the discount as a percentage of the marked price. answer (a) $180 (b) 33.3%   Question 6 A milkbar owner buys coffee at $12.00 a jar and adds on 30% profit.  At what price does he sell each jar? answer $15.60

 

Solution 1 back to Have a Go

Solution 2 back to Have a Go

 

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