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Comprehensive Guide to Percentages, Discounts, and Interest Calculations

This guide covers essential operations involving percentages, fractions, and decimal fractions, providing detailed calculations for varied scenarios. It includes interest calculations for loans, VAT on bills, discount application, and salary adjustments due to raises. Practical examples illustrate how to calculate discounts, sale prices, total amounts including VAT, and interest accrued on loans, helping readers understand financial concepts and improve their numerical skills. Find key calculations with explicit steps for clarity and ease of understanding.

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Comprehensive Guide to Percentages, Discounts, and Interest Calculations

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  1. Percentages Fractions Decimal fractions 100% 1.00 1 10% 0.10 1/10 50% 0.50 1/2 1% 0.01 1/100 331/3% 0.33.. 1/3 30% 0.30 3/10 25% 0.25 1/4 20% 0.20 1/5 7% 0.07 7/100

  2. 10% of £73 10% of £126.50 12% of £31 68% of £144.50 25% of £64 25% of £134.40 17% of £32.40 21% of £34.40 30% of £24 90% of £108.90 47% of £74 93% of £165.40 1% of £247 7% of £304 9% of £24.37 8% of £3548 non-calculator calculator = 0.12 x 31 = £ 3.72 = 0.68 x 144.5 = £ 98.26 = £ 7.30 = £ 12.65 = 0.17 x 32.4 = 5.508 = £ 5.51 = 0.21 x 34.4 = 7.224 = £ 7.22 = £ 16 = £ 33.60 = 0.47 x 74 = £ 34.78 = 0.21 x 34.4 = 153.822 = £ 153.82 108.90 - 10.89 = £ 7.20 = £ 98.01 3.04 x 7 = 0.09 x 24.27 = £ 2.18 = 0.08 x 3548 = £ 283.84 = £ 2.47 = £ 21.28

  3. Interest is 3.2% p a. Calculate the interest on £450 for (i) 1 year (ii) 4 months Discount at 331/3% is offered on items in the Sale. Calculate the (i) discount (ii) sale price on an item priced at £ 56.40 The bank charges interest is 7.8% p a. Calculate the interest on charged on £2250 borrowed for 3 years. Employees are offered a 12% raise. Jim earns £16 450 pa Calculate the (i) increase (ii) new salary earned Jim after the pay rise. VAT on fuel bills is charged at 5%. Calculate the VAT on a gas bill of £75.60. What is the total bill? VAT at 171/2% is charged on items in a clothing warehouse. Calculate the (i) VAT (ii) cost of item at £23.20 excluding VAT.

  4. Interest is 3.2% p a. Calculate the interest on £450 for (i) 1 year (ii) 4 months 14.40 3 Interest = 3.2% of £450 for 1 year Interest = = 0.032 x 450 = £ 14.40 for 12 months = £ 4.80 Discount at 331/3% is offered on items in the Sale. Calculate the (i) discount (ii) sale price on an item priced at £ 56.40 Discount = 331/3% of £56.40 £ 56.40 - 18.80 sale price = £ 37.60 = 56.40 ÷ 3 = £ 18.80 The bank charges interest is 7.8% p a. Calculate the interest on charged on £2250 borrowed for 3 years. Interest = 7.8% of £2250 for 1 year = 0.078 x 2250 for 3 years = 175.50 x 3 = 175.50 = £ 526.50

  5. Employees are offered a 12% raise. Jim earns £16 450 pa Calculate the (i) increase (ii) new salary earned Jim after the pay rise. increase = 12% of £ 16 450 for 1 year 16 450 1 974 So new salary is £ 18 424 = 0.12 x 16 450 = £ 1974 VAT on fuel bills is charged at 5%. Calculate the VAT on a gas bill of £75.60. What is the total bill? VAT = 5% of £ 75.60 75.60 37.80 So total bill is £ 113.40 = 0.05 x 75.60 = £ 37.80 VAT at 171/2% is charged on items in a clothing warehouse. Calculate the (i) VAT (ii) cost of item at £23.20 excluding VAT. VAT = 2.32 1.16 0.58 171/2 % of £ 23.20 23.20 VAT = 4.06 So total bill is £ 27.26 = 0.175 x 23.20 = £ 4.06

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