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PERCENT OF A NUMBER

Lesson 29  Section 2

Fractional percent

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 6.   What does ½% mean?
 
  Half of 1%.  Half of the hundredth part.
 

Example 1.   Distinguish the following:

a)  Half of $600.        b)  ½% of $600.

Answers.  

a)  Half of $600 is $300.

b)  ½% of $600  means  Half of 1% of $600.

1% of $600 is $6. 00.

(Lesson 4, Question 6.) Therefore,

½% of $600 is $3. 00.

Example 2.   How much is half, or 50%, of $824?  How much is ½% of $824?

Answer.  Half of $824 is $412. (Lesson 16.)  ½% is $4.12.

Again, ½% means Half of 1%.

1% of $824 is $8.24.

½% of $824 is $4.12.

Note that half of $824  and  ½% of $824 have the same digits:  4, 1, 2.  ½% is equal to 1% of half

Example 3.   How much is ¼% of $800?

Answer.   ¼% means a quarter of 1%.

1% of $800 is $8.00 .

¼% of $800 is $2.00.

Example 4.   Jacqueline deposited $2000 in the bank, where the interest is 3½% annually.  In one year, how much interest will she earn?

Answer.  We have to calculate 3½% of $2000.  We can get it from 1%:

1% of $2000 is $20.00.

Therefore, 3½% is

3½ × 20  =  "Three times 20  +  Half of 20"  
  (Lesson 27, Question 2)
   =  60  +  10
   =  70.

She will earn $70 in interest.

Example 5.  Calculator problem.   How much is 6½% of $104.16?

 Solution.   The Amount is missing.  Press

1 0 4 . 1 6 × 6 . 5 %

See:

 6.7704 

This is approximately, $6.77.

If your calculator does not have a percent key, then change 6.5% to a decimal (Lesson 4), and press = .   Press

1 0 4 . 1 6 × . 0 6 5 =

Please "turn" the page and do some Problems.

or

Continue on to Section 3:  To find the Base

Section 1 of this Lesson


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