Percent Problems  Summary and Q&A
TL;DR
This video covers how to convert fractions to percentages and vice versa, as well as solving word problems involving percentages and markups.
Questions & Answers
Q: How do you convert a fraction to a percentage?
To convert a fraction to a percentage, divide the numerator by the denominator and multiply by 100. For example, if you have 5/24, divide 5 by 24 and multiply by 100 to get 20.83%.
Q: How do you convert a percentage to a fraction?
To convert a percentage to a fraction, divide the percentage by 100 and simplify the resulting fraction. For example, 16% is equal to 16/100, which simplifies to 4/25.
Q: How do you solve word problems involving percentages?
In word problems involving percentages, first identify the given information and what is being asked. Then, use the concepts of converting percentages to fractions or decimals and vice versa to solve for the unknown variable.
Q: How do markups and discounts affect prices?
A markup is an increase in price, usually stated as a percentage, from the cost of acquiring an item. A discount is a reduction in price, also stated as a percentage. Markups increase the selling price, while discounts decrease it.
Summary & Key Takeaways

The video starts with warmup exercises on converting fractions to percentages, using decimal form as an intermediary step.

The host then demonstrates converting a percentage into a fraction by dividing it by 100 and simplifying the fraction.

The video proceeds to solve word problems involving percentages, such as determining the presale price of an item given the percentage discount.

Another word problem involves calculating the new hourly rate of an employee after a percentage pay raise.

The last problem compares two stores selling bikes with different markups and discount prices, concluding that both stores sell at the same price.