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.

Key Insights

• 🗂️ Converting fractions to percentages involves dividing the numerator by the denominator and multiplying by 100.
• 🗂️ To convert percentages to fractions, divide the percentage by 100 and simplify.
• 💁 Word problems involving percentages require careful analysis of the given information and applying the appropriate conversion techniques.
• 🧑‍🏭 Markups increase prices, while discounts decrease them, and the final selling price depends on both factors.

Transcript

Let's do a couple of warm up problems converting fractions to percentages and then converting percentages to fractions. And then we can do some actual word problems. So on our first warm up, let's convert 5/24 to a percentage. And the way I like to do it, I like to convert it to a decimal first. And once you have it in the decimal form, it's pretty... Read More

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 warm-up 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 pre-sale 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.