Algebra - Percents | Practice Hub

The retail price of gold is . Suppose Billy bought twenty gold coins at wholesale price for each. How many gold coins can Billy buy at retail price from his profit if he chose to sell all twenty coins at each?

Explanation

Determine how much Billy has spent on all twenty gold coins. Since he bought 20 gold coins at wholesale price, multiply 20 by the price of gold at $100.

$$100 \times 20 = $2000$

Billy has spent on gold coins at wholesale price.

Determine his profit after he sells all gold coins at each.

$$130 \times 20 = $2600$

This amount is his revenue after selling all his 20 coins.

Profit is the total revenue minus the cost Billy has spent.

After subtracting the initial cost, Billy has $600 profit from selling all his 20 gold coins at $130 each.

Divide the profit with the retail cost of the gold coins to determine how many gold coins he can buy at retail price with his profit.

$\frac{$600}{$150} = 4$

Billy can only buy gold coins at retail price as a result of his profit.

The answer is:

What percent of 0.6 is 0.0003?

0.05 %

0.5 %

0.02 %

0.002 %

2 %

Explanation

Let be the percent. Then

$P = \frac{ 0.0003}{0.6} \cdot100 = 0.05$

What is the fraction value of ?

$\frac{23}{50}$

$\frac{46}{100}$

$\frac{12}{25}$

$\frac{9}{20}$

$\frac{1}{4}$

Explanation

$46%=\frac{46}{100}\ \frac{46}{100}=\frac{23}{50}$

Since is prime, we cannot simplify this fraction any further.

Find the fractional equivalent of the following percent:

$\frac{31}{50}$

$\frac{8}{25}$

$\frac{33}{50}$

$\frac{62}{50}$

Explanation

To find the fractional equivalent of a percent, we place that number over 100 and reduce the fraction:

$62%\rightarrow \frac{62}{50}\div \frac{2}{2}=\frac{31}{50}$

Convert to a fraction in lowest terms.

$\frac{33}{50}$

$\frac{66}{100}$

$\frac{6}{10}$

$\frac{3}{5}$

$\frac{132}{200}$

Explanation

Since percentages are out of 100%, start first by dividing the percentage by 100 to convert it to a fraction.

$\frac{66}{100}$

Simplify the fraction to lowest terms by dividing the numerator (top) and denominator (bottom) by the same number or greatest common factor you can think of. In this case, since both 66 and 100 are even numbers, I know that 2 is a factor so I will divide both numbers by 2.

$\frac{66}{100}=\frac{33}{50}$

I check again if anything divides into both the top and the bottom but nothing does so this must be the fraction reduced to lowest terms.

Convert the percent into a fraction:

$\frac{21}{50}$

$\frac{42}{100}$

$\frac{11}{25}$

$\frac{12}{50}$

Explanation

In order to change a percent into a fraction, the first step is to take the percent and place it over 100:

$42%=\frac{42}{100}$

Then simplify as needed:

$\frac{42}{100}\div \frac{2}{2}=\frac{21}{50}$

For this question the final answer will be 21/50

Find the fraction for .

$\frac{3}{4}$

$\frac{5}{6}$

$\frac{2}{3}$

$\frac{7}{8}$

Explanation

A numerical percentage is out of 100 parts.

Remove the percentage sign and divide this number by 100.

$\frac{75}{100}$

Reduce this fraction by writing the factors of the numerator and denominator.

$\frac{75}{100} = \frac{25 \times 3}{25 \times 4}$

Cancel the 25.

The answer is: $\frac{3}{4}$

A shirt was originally selling for $28. It is now $21. What percent was it marked down?

Explanation

To solve this, you can set up an equation: . Translated into words, the new price equals the original price minus the discount. Isolate for and you get $-\frac{1}{4}$ .

The negative sign signals that the percentage is a mark down. Convert the fraction into a percentage and you get .

You go shopping and you see a shirt that costs $25. There is a sign next to it that says it is 20% off. What is the sale price of the shirt?

Explanation

The sale price of something is how much we will spend after the discount is taken. So, the discount is 20%.

We must find what 20% of $25 is. We know

Now, we multiply.

$0.20 \cdot $25 = $5$

So, the discount is $5. We need to determine how much we are going to pay. To do that, we subtract the discount from the original cost.

The sale price of the shirt is $20.

A coat goes on sale for off. If the coat originally costs , what is the sale price of the coat?

Explanation

In order to find the sales price of the coat we need to convert the sales percentage into a decimal. To do this, divide it by one hundred or just move the decimal two spaces to the left. From here we can can calculate the new price of the coat by subtracting the decimal percentage from the original and then multiplying the original price by this new decimal.

$\text{Sale Price}=\text{Original Price}\times(1-\text{Sale Percentage})$