Lesson 14 of 15, 10 min read

Percents, discounts, tax and percent change

What percent means, converting between percents, decimals and fractions, finding a percent of a number, the part, the whole or the percent, discounts, sales tax, tips and percent increase and decrease.

Percent means "per hundred"

The word percent comes from "per centum", per hundred. So \(45\%\) means \(45\) out of every \(100\):

\[45\% = \frac{45}{100} = 0.45\]

Percents can be more than \(100\%\): if a plant grows to \(150\%\) of its height, it's one and a half times as tall as before.

Finding a percent of a number

Some percents are easy to do in your head. \(10\%\) is one tenth, so \(10\%\) of \(80\) is \(8\). Then \(5\%\) is half of that, \(4\), and \(20\%\) is double, \(16\). Building percents out of \(10\%\) and \(5\%\) is a great way to check your work.

The percent equation

Every basic percent problem fits one equation:

\[\text{part} = \text{percent} \times \text{whole}\]

You can solve for whichever piece is missing.

Discounts, tax and tips

A tip works just like tax: a \(20\%\) tip on a \(35\)-dollar meal is \(0.2 \cdot 35 = 7\) dollars.

Percent change

Practice

Quick check

What is \(5\%\) as a decimal?

Quick check

A shirt's price rises from \(20\) to \(25\) dollars. What's the percent increase?

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