Percentage Word Problems

TL;DR

This video explains how to calculate percent change, convert percentages to decimals, and solve percentage-based word problems.

Transcript

in this video we're going to focus on the percent change formula how to calculate percent increase and decrease how to find the percent of a number solving the the is the of percentage problems also how to convert fractions to decimals decimals to fractions and we're going to work on a few percentage based word problems towards the end of this vide... Read More

Key Insights

• 💱 Understanding the percent change formula is crucial for calculating percent increase or decrease accurately.
• 👈 Converting percentages to decimals involves dividing by 100 or moving the decimal point two places to the left.
• 🪘 Converting fractions to decimals can be done through long division or by memorizing common fraction-to-decimal conversions.
• 🔑 Word problems involving percentages can be solved using the equation "is = of * percentage as a decimal."
• 🚕 When applying discounts or sales tax to calculate final prices, it is essential to consider the order of operations and convert percentages to decimals.
• 🗂️ The overall percent change is determined by subtracting the original value from the final value, dividing by the original value, and multiplying by 100.

Questions & Answers

Q: How do you calculate percent increase and decrease using the percent change formula?

To calculate percent increase, subtract the original value from the new value, divide by the original value, multiply by 100. For percent decrease, use the same formula, but subtract the new value from the original value.

Q: How do you convert a percentage to a decimal?

To convert a percentage to a decimal, divide by 100 or move the decimal two places to the left.

Q: How do you calculate the new value when given a percentage increase or decrease?

Multiply the original value by 1 plus or minus the percentage increase or decrease as a decimal.

Q: How do you convert a fraction to a decimal using long division?

Divide the numerator by the denominator using long division to get the decimal representation of the fraction.

Q: Is there a shortcut to converting fractions to decimals?

Yes, there are common fractions that can be memorized, such as one-half being 0.5, one-third being approximately 0.333, one-fourth being 0.25, and so on.

Q: How do you calculate the final price of an item after applying a discount and sales tax?

Multiply the original price by 1 minus the discount percentage to get the discounted price, then multiply the discounted price by 1 plus the sales tax percentage to get the final price.

Q: How do you calculate the overall percent change from the original value to the final value?

Use the formula percent change = (new value - original value) / original value * 100 to find the percentage increase or decrease.

Q: What happens when a stock price increases first and then decreases by the same percentage?

Regardless of the order, if the percentage increase and decrease are the same, the overall percent change will always be negative. It results in a loss of value for the stock.

Summary & Key Takeaways

• The video covers the percent change formula, which is percentage change = (new value - original value) / original value * 100. It provides examples of calculating percent increase and decrease.

• It explains how to convert percentages to decimals by dividing by 100 or moving the decimal two units to the left.

• The video showcases how to solve word problems involving percentages using the equation "is = of * percentage as a decimal."