Percent simply means "out of 100." Instead of saying it "he made 54 out of 100 shots," it is easier to say "he shot 54 percent from the field." The percentage of any number may be calculated by following just a few simple steps.
Continue ReadingFor example, Mike may want to gauge his savings by calculating 15 percent of 50 and also determine how much he saves on a $250 bicycle discounted at a rate of 30 percent.
To convert the percentages to decimal form, move the decimal two places to the left. In these instances, 15 percent appears as ".15", while 30 percent appears as ".30"
The product of 50 and .15 is 7.5. Likewise the product of 250 and .30 is 75. Therefore, 15 percent of 50 is exactly 7.5, and Mike saves $75 from the original price of the bike when purchased at the discounted rate.
Since 250 - 75 is equal to 175, the new price of the bicycle is now $175, before tax.