SY23-24 Unit 3 Standard Percents, Ratios and Proportions

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part of a whole.

Front

How do you calculate a percent of a number?

Back

To calculate a percent of a number, multiply the number by the percent (in decimal form). For example, to find 25% of 200, calculate 200 x 0.25 = 50.

Front

What is a ratio?

Back

A ratio is a comparison of two quantities, showing how many times one value contains or is contained within the other.

Front

How do you express a ratio?

Back

A ratio can be expressed in three ways: as a fraction (1/2), with a colon (1:2), or in words (1 to 2).

Front

What is a proportion?

Back

A proportion is an equation that states that two ratios are equal. For example, 1/2 = 2/4 is a proportion.

Front

How do you solve a proportion?

Back

To solve a proportion, cross-multiply and then divide. For example, if a/b = c/d, then ad = bc.

Front

What is the formula for percent change?

Back

Percent change = (New Value - Old Value) / Old Value x 100.

Front

How do you find the final price after tax?

Back

To find the final price after tax, multiply the original price by the tax rate (in decimal form) and add it to the original price. For example, for a $100 item with a 5% tax: Final Price = 100 + (100 x 0.05) = $105.

Front

What is markup?

Back

Markup is the amount added to the cost price of goods to cover overhead and profit. It is usually expressed as a percentage of the cost price.

Front

How do you calculate the selling price with markup?

Back

Selling Price = Cost Price + (Cost Price x Markup Percentage). For example, if an item costs $50 and has a 20% markup: Selling Price = 50 + (50 x 0.20) = $60.