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Topic 8

The document explains the concept of percentage, which is a fraction out of 100, and how to convert decimals and fractions into percentages. It outlines methods for expressing one quantity as a percentage of another, calculating percentage changes, and applying percentages to profit, loss, discounts, GST, and commissions. Key formulas and definitions are provided for clarity on these topics.

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5 views3 pages

Topic 8

The document explains the concept of percentage, which is a fraction out of 100, and how to convert decimals and fractions into percentages. It outlines methods for expressing one quantity as a percentage of another, calculating percentage changes, and applying percentages to profit, loss, discounts, GST, and commissions. Key formulas and definitions are provided for clarity on these topics.

Uploaded by

legendarygaming7895
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Topic 8: Percentage

Notes:
Concept of Percentage:
1. The concept of percent is based on being out of 100 or
100 parts. ‘Per’ means ‘out of’ and ‘cent’ means 100.
Thus, a percentage is a fraction with the denominator of
100. Percentage allows a good comparison of different
quantities. We use the symbol % to represent ‘percent’.

2. In general, 𝓍 percent is defined as 𝓍 parts out of a


hundred parts, ie: 𝓍% =

Converting a Decimal or Fraction into a Percentage:


3. To convert a fraction into a percentage, multiply it with
100%. In case of a mixed number, change it to an
improper fraction first before multiplying it with 100%.

4. To convert a decimal into a percentage, multiply it with


100% or shift the decimal point two places to the right to
obtain the answer.
Expressing One Quantity as a Percentage of Another:
5. To express one quantity 𝒶, as a percentage of another
quantity 𝒷, ensure 𝒶 and 𝒷 are in the same unit first then
perform the following steps:

a) Write 𝒶 as a fraction of 𝒷.
b) Multiply the fraction by 100%, converting it to
percentage

Percentage Change of a Quantity and Reverse Percentage:


6. The change in the value of a quantity can be either
expressed as a percentage increase or decrease in the
original value.
For example:

/
% Increase/Decrease = x 100%
or Increase/Decrease = % increase/decrease x original
value

7. Reverse percentage problems involve using comparison


of proportions to solve.
Profit and Loss, Discount, GST, and Commission:
8. Profit = Selling Price – Cost Price
9. Loss = Cost Price – Selling Price

10. The profit or loss can be expressed as a percentage


of the cost price.
For example:
/
% Profit/Loss = x 100%

11. Discount = marked price (original selling price) –


sale price (cheaper price) It can be expressed as a
percentage.
For example:
% Discount = x 100%
12. Goods and Services Tax (GST) is a tax on
consumption. The tax is applicable to purchases on goods
or services, including imports.
% GST inclusive = 109% x Pay.
*9% GST may subject to change in future.

13. A commission is the amount of payment an agent


receives for selling or providing a service on the behalf of
another party.
% Commission = Payment% x Selling Price

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