Percents, Explained By Mr. Peralta and the Class of 622 and 623

Similar documents
Learning Plan 3 Chapter 3

Unit 8 - Math Review. Section 8: Real Estate Math Review. Reading Assignments (please note which version of the text you are using)

troduction to Algebra

Farm Accounts Question 2.

Examples of Strategies

1. FRACTIONAL AND DECIMAL EQUIVALENTS OF PERCENTS

MA 1125 Lecture 05 - Measures of Spread. Wednesday, September 6, Objectives: Introduce variance, standard deviation, range.

Adding and Subtracting Fractions

Click on the links below to jump directly to the relevant section

Pre-Algebra, Unit 7: Percents Notes

ECO155L19.doc 1 OKAY SO WHAT WE WANT TO DO IS WE WANT TO DISTINGUISH BETWEEN NOMINAL AND REAL GROSS DOMESTIC PRODUCT. WE SORT OF

MATH 111 Worksheet 21 Replacement Partial Compounding Periods

How to Find and Qualify for the Best Loan for Your Business

Chapter 6. Percents and their Applications

Club Accounts - David Wilson Question 6.

Percent: Slide 1 / 194. Slide 2 / 194. Slide 4 / 194. Slide 3 / 194. Slide 6 / 194. Slide 5 / 194. Table of Contents. Ratios as Percents

Lesson 5.5 and 5.6. Changing Fractions to Decimals and Decimals to Fractions

Working with Percents

Adding & Subtracting Percents

Finance 197. Simple One-time Interest

These terms are the same whether you are the borrower or the lender, but I describe the words by thinking about borrowing the money.

EconS Constrained Consumer Choice

1, are not real numbers.

Chapter 4 Answers. Chapter 4 Problems of the Week, p For example, I added each player s total points as follows:

Chapter 9, Mathematics of Finance from Applied Finite Mathematics by Rupinder Sekhon was developed by OpenStax College, licensed by Rice University,

3 Ways to Write Ratios

3 Ways to Write Ratios

Week 19 Algebra 2 Assignment:

3.4.1 Convert Percents, Decimals, and Fractions

Arithmetic. Mathematics Help Sheet. The University of Sydney Business School

Real Estate Private Equity Case Study 3 Opportunistic Pre-Sold Apartment Development: Waterfall Returns Schedule, Part 1: Tier 1 IRRs and Cash Flows

Workbook 3. Borrowing Money

Yosemite Trip Participants

D This process could be written backwards and still be a true equation. = A D + B D C D

MATH 008 LECTURE NOTES Dr JASON SAMUELS. Ch1 Whole Numbers $55. Solution: =81+495= = 36$

Help with fractions, percentages and decimals! 1 Numerator 2 Denominator

Simple and Compound Interest

MA 1125 Lecture 12 - Mean and Standard Deviation for the Binomial Distribution. Objectives: Mean and standard deviation for the binomial distribution.

Workbook 2. Banking Basics

Warehouse Money Visa Card Terms and Conditions

Synthetic Positions. OptionsUniversity TM. Synthetic Positions

Form 8941 Instructions

Section 5.1 Simple and Compound Interest

4.3 The money-making machine.

Not for sale or distribution

Text transcription of Chapter 5 Measuring a Nation s Income

Chapter 6.1: Introduction to parabolas and solving equations by factoring

Understanding Money. Money 101. Money 101 What is debt? Savings and Investments

College Prep Mathematics Mrs. Barnett

The figures in the left (debit) column are all either ASSETS or EXPENSES.

The Next Step. Mathematics Applications for Adults. Book Percents

Mathematics 7 Fractions, Decimals and Percentages

STOP RENTING AND OWN A HOME FOR LESS THAN YOU ARE PAYING IN RENT WITH VERY LITTLE MONEY DOWN

MATH 1012 Section 6.6 Solving Application Problems with Percent Bland

1. Confidence Intervals (cont.)

Complete the statements to work out the rules of negatives:

5.06 Rationalizing Denominators

Scenic Video Transcript Big Picture- EasyLearn s Cash Flow Statements Topics

Percents. Writing percents as decimals. How to change a percent to a decimal.

MA 1125 Lecture 14 - Expected Values. Wednesday, October 4, Objectives: Introduce expected values.

MATH STUDENT BOOK. 8th Grade Unit 4

Unit 3: Rational Numbers

Currency, Conversions, Rates

Discrete Probability Distribution

4 BIG REASONS YOU CAN T AFFORD TO IGNORE BUSINESS CREDIT!

Economics 101 Fall 2016 Answers to Homework #1 Due Thursday, September 29, 2016

Chapter Review Problems

Things to Learn (Key words, Notation & Formulae)

Lesson 4 Section 1.11, 1.13 Rounding Numbers Percent

Exponential functions: week 13 Business

Equalities. Equalities

SAFETY COUNTS. Cashfloat s guide to online safety

Section 7C Finding the Equation of a Line

Ratios, Proportions, and Percentages

2c Tax Incidence : General Equilibrium

MFM 1P. Foundations of Mathematics Grade 9 Applied Mitchell District High School. Unit 2 Proportional Reasoning 9 Video Lessons

Year 6 Spring Term Week 3 to 4 Number: Percentages

MATH THAT MAKES ENTS

Scenic Video Transcript Dividends, Closing Entries, and Record-Keeping and Reporting Map Topics. Entries: o Dividends entries- Declaring and paying

Chapter 12 Module 6. AMIS 310 Foundations of Accounting

1. f(x) = x2 + x 12 x 2 4 Let s run through the steps.

[01:02] [02:07]

Practice Math Test Chapter 6

ARITHMETIC CLAST MATHEMATICS COMPETENCIES. Solve real-world problems which do not require the use of variables and do

EDGEPOINT ACADEMY. Compounding s magic (or how $5k can cost you $150k) Voila, the formula for compounding:

(x + 2)(x + 3) + (x + 2)(x + 3) 5(x + 3) (x + 2)(x + 3) + x(x + 2) 5x + 15 (x + 2)(x + 3) + x 2 + 2x. 5x x 2 + 2x. x 2 + 7x + 15 x 2 + 5x + 6

for Newcomers and New Canadians Module 2 How to Build Credit In Canada Student Workbook

Financial Maths: Interest

Addition and Subtraction of Rational Expressions 5.3

Puzzle 5-1. Percents, Fractions, and Decimals

January 29. Annuities

Applications of Exponential Functions Group Activity 7 Business Project Week #10

ECON Microeconomics II IRYNA DUDNYK. Auctions.

3 Ways to Write Ratios

Exploring Slope. High Ratio Mountain Lesson 11-1 Linear Equations and Slope

THE LAW SOCIETY OF BRITISH COLUMBIA. In the matter of the Legal Profession Act, SBC 1998, c. 9. and a hearing concerning

Finding the Sum of Consecutive Terms of a Sequence

The Normal Probability Distribution

Ratios, Rates, and Conversions. Section 4-1 Part 1

Name: Date: Page 1 of 7. What is Slope? There are four types of slope you can encounter. A slope can be positive, negative, zero, or undefined.

Transcription:

Percents, Eplained By Mr. Peralta and the Class of 622 and 623 Table of Contents Section 1 Finding the New Amount if You Start With the Original Amount Section 2 Finding the Original Amount if You Start With the New Amount Section 3 Finding the Percent if You Start With the Original and New Amounts Section 4 A Note on Equivalent Ratios Introduction A percent is really just a special way of writing a fraction. When we write a percent, we are really writing a fraction with a hidden denominator of 100. For eample: 27% = 27 100 0.5% = 0.5 100 1 1 % = 5 5 100 % = 100

Section 1 Finding the New Amount if You Start With the Original Amount Many percent problems begin with an original amount, corresponding to. Then there s a new amount, corresponding to a smaller or higher percentage. The goal is to find the new amount using either proportions or decimals. Eample 1 (Plain Math): Find 30% of is the original amount, so it goes with. The goal is to find the smaller amount, which goes with 30%. There are at least two different proportions we can create and solve, and both give the same answer: = 30% = 18 = 30% = 18 The same problem can be solved using decimals. The word of usually means multiplication, so we can solve using the calculation: 30% of 0.30 = 18 Eample 2 (Ta/Tip): Find the 8.25% ta on a $1,200 laptop. This is virtually the same as eample 1. The $1,200 is the original price, so it goes with. The goal is to find the modified amount, which goes with 8.25%. 1200 = 8.25% = $99 1200 = 8.25% = $99 Like before, we can also solve this using multiplication. Just remember to convert the percent into a decimal by moving the decimal two spaces to the left. Single-digit percents do look like very small decimals. 8.25% of 1,200 0.0825 1200 = $99 Eample 3 (Ta/Tip Total): Find the total after an 8.25% ta on a $1,200 laptop This problem comes from Eample 2. It can be solved by simply adding the $99 ta with the $1,200 original price to get $1,299.

However, you can also interpret this problem the following way: $1,200 is the original price, so it goes with. The new total price is 8.25% greater, so it goes with 108.25%. Let that sink in. 1200 = 108.25% = $1,299 1200 = 108.25% = $1,299 Of course, we can also convert 108.25% into a decimal and multiply: 108.25% of 1200 108.25 1200 = $1,299 Eample 4 (Discount): Find the new price of a $1,200 laptop that receives a 15% off discount This problem can be solved in a similar manner as Eample 3. Like before, $1,200 is the original price () and the new price is 15% less than that. In this sense, the new price corresponds to 85% (make sure you understand why). Proportions! 1200 = 85% = $1,020 1200 = 85% = $1,020 Decimals! 85% of 1200 0.85 1200 = $1,299 Practice Problems: [insert practice problems here]

Section 2 Finding the Original Amount if You Start With the New Amount This is the reverse of the first type of problem. You begin with the new amount, which might be larger or smaller than the original amount. You have to figure out the original amount, which corresponds to. Read every problem carefully to make sure you know whether you re being told the original or the new amount. These types of problems come in different flavors like before (plain math, ta/tip, and discount). Eample 1 (Plain Math): is 75% of what number? The problem indicates that goes with 75%. Logically, must go with. Before even solving, ask yourself whether will be bigger or smaller than. Proportion Method 75% = = 80 = 75% = 80 Decimal Method: Using a decimal to find an original amount takes a bit of logic. Suppose you knew. Since is 75% of, then you d multiply 75% times and get. You can write this as an equation then solve for : is 75% of = 0.75 80 = (I got this by dividing both sides by 0.75) Eample 2 (Plain Math): 120 is 105.25% of what number? 120 goes with 105.25%. The original number corresponds to, so the original number must be smaller than 120. Don t be intimidated by decimals in percents. Treat them like any other number. Round your answer to the nearest hundredth as needed (or follow the directions if different). Proportions: 120 105.25% = = 114.01 120 = 105.25% = 114.01 Decimals: 120 is 105.25% of 120 = 105.25 114.01 =

(I got this by dividing both sides by 105.25) Eample 3 (Ta/Tip): The price of a bag after 5.25% taes is $58.94. Find the original price. The original price is but it s unknown. However, we do know that after we add on 5.25%, we get $58.94. This means $58.94 goes with 105.25% (make sure you understand why). Does this problem seem familiar? It should, because it s just like Eample 2. Here s the proportion: 58.94 105.25% = = $56 58.94 = 105.25% = $56 Here s the decimal method: 58.94 is 105.25% of 58.94 = 105.25 $56 = (I got this by dividing both sides by 105.25) Eample 4 (Discount): A meal after a 20% discount was $34. Find the original bill. It would be easy to rush through the problem and believe that $34 corresponds to 20%. However, a little more thinking would show that $34 actually goes with 80% because it represents what remains after 20% is removed from the original price. Proportion: 34 80% = = $28.33 34 = 80% = $28.33 Decimals: 34 is 80% of 34 = 0.80 Practice Problems [insert practice problems here] $28.33 = (I got this by dividing both sides by 105.25)

Section 3 Finding the Percent if You Start With the Original and New Amounts This is the last type of problem. The goal is to find the percent if you know the original and new amounts. Like before, it comes in three flavors: plain math, ta/tip, and discounts. Eample 1 (Plain Math): 12 is what percent of 32? The problem suggests that 12 is a part of 32. In other words, 32 is the original amount () and 12 corresponds to some unknown percent. This unknown percent will be less than. This can be solved with a proportion the same way the other two types of problems were solved. 12 % = 32 12 32 = % = 37.5% = 37.5% Eample 2 (Plain Math): Convert 12 into a percent. 32 This eample uses the same numbers as Eample 1 because they are the same problem. The denominator represents the original amount () and the numerator represents the new amount. Therefore, one method to convert a fraction into a percent is to use a proportion. The goal is to turn the fraction into one with a denominator of 100 (after all, that s the definition of a percent). Another method is to use long division, and then convert the decimal into a percent. 0.375 can be converted into 37.5% Eample 3 (Plain Math): 18 is what percent of 15? Don t get into the habit of looking at the numbers and thinking you know what the question is asking. In this eample, the word of 15 means that 15 is the original amount and 18 is the new amount.

Weird, right? But that just means the percent you ll find is greater than since you re taking a smaller number (15) and turning it into a bigger one (18). Proportion: 18 % = 15 = 120% 18 15 = % = 120% Long Division Method: Remember, long division only gives you a decimal. To convert to a percent, move the decimal place two spaces to the right (percents are bigger ) Eample 4 (Ta/Tip): Find the ta rate if socks were originally $4.50 but you paid $4.77. The $4.50 matches with and the $4.77 matches with the higher unknown percent. But this higher percent is not the ta rate itself. Instead, the ta rate is found by subtracting away (can you figure out why). With a proportion: 4.77 % = 4.50 = 106% Ta Rate = 6% 4.77 4.50 = % = 106% Ta Rate = 6% It s also possible to solve this using our percent change equation: Original New Original The Original New is the symbol for absolute value. It means ignore any negatives if they come up. Lastly, don t forget the equation gives a decimal. You must convert it into a percent. 4.50 4.77 = 0.06 4.50 0.06 can be converted into 6%

Eample 5 (Discount): A $32 videogame is on sale for $20 on Amazon. Find the discount. The $32 is the original price and the $20 is the new sale price. Beware: The percent you get is not the discount. You must subtract with to see how much percent is actually being removed. The removed amount is the discount. Proportions: 20 % = 32 = 62.5% Discount = 37.5% 20 32 = % = 62.5% Ta Rate = 37.5% Practice Problems [insert practice problems here]

Section 4 A Note On Equivalent Ratios You might be wondering why I haven t mentioned any other ways to solve these problems. And in case you didn t realize it, there are other ways to solve all of the eamples in the previous sections. The biggest omission has been equivalent ratios. Equivalent ratios are the universal method and can be applied to any problem. Some problems lend themselves naturally to equivalent ratios. Some don t. Eample 1: is 75% of what number? Yes, you can create a proportion. But you can also realize that dividing both and 75% by 3 tells you that 20 is 25%. Then multiplying both by 4 tells you 80 is. This can be shown with a diagram: 75% 20 25% 80 The original number is 80 Eample 2: A $32 videogame is on sale for $20 on Amazon. Find the discount. Discounts involve percents. In a percent, the original amount corresponds to 100. So let s turn the $32 videogame into. Then let s see the new percent. The difference will tell you the discount. 20 32 0.625% 1% 62.5% The discount is the difference between 100 and 62.5. It s 37.5% Eample 3: Find 30% of We start with then convert that into a ratio over 30%. Well how much is 10%? It s 6. So 30% much be 18. Diagram: 6 10% 18 30% So 30% of is 18 I could go on, but I ll stop. It should be evident that there is no formal procedure for equivalent ratios. It takes eperience and creativity to use them. And yet they can be quite rewarding to figure out. They re like interesting puzzles. They re a good way to check your work. And they can often be easier than using a proportion or decimal. Practice Problems 1. Solve every practice problem in Sections 1-3 using equivalent ratios.