In Maths we have been learning about Financial Literacy and for this week we talked about Percentages and Increases/Decreases.
Percentage
- To calculate a certain percentage of an amount, use this rule:
[percentage ➗ 100 x amount]
Eg.1
10% of $150 = $15
(10 ➗ 100 x 150 = 15)
26% of $451= $117.26
(26 ➗ 100 x 451 = 117.26)
Eg.2
A store has a hoodie, normal price $66, on sale for 25% off.
a) How much is the discount?
25➗100x$66 = $16.50
b) What is the sale price?
$66 ➖ $16.50 = $49.50
Increases/Decreases
- Often we need to increase or decrease an amount by a certain percentage (eg. discount, mark-up etc).
For these types of calculation, do the following:
1. Calculate the "percentage of" the amount (percentage ➗ 100 x amount)
2. Add it (for an increase) or subtract (for a decrease) from the original amount.
Eg.1
Increase $80 by15%
(15% ➗ 100 x 80 = 12)
($80 ➕ $12 = $92)
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