Percentage is an important concept from the Quantitative Aptitude section for any competitive exam, and more so for SBI CLerk, SBI PO, IBPS PO, IBPS Clerk, SSC CGL, SSC CHSL and other competitive exams.
Understanding percentages would help us with other mathematical concepts such as Profit & Loss, Simple Interest, Compound Interest and Data Interpretation where the questions are based on the concept of percentages. So, once you master percentages, you can easily solve problems from other mathematical concepts.
What Is Percentage?
A percentage describes how many parts there are out of one hundred parts of a particular thing. When we say percent, we are actually saying “percent” which means, ‘per hundred’ or ‘for every hundred’.
So, when we say 50%, we actually mean to say 50 per 100.
Percentage Defined As Fraction
Percent of something must make you think “divided by 100”.
In the examples above, the denominator is always 100.
Hence, a percentage can also be defined as a fraction where the denominator is always 100 and the numerator is called rate percent.
Why Is The Concept Of Percentage Important?
Example 1: Two kids appear for different exams, where student A scores 60, and student B scores 80. Since 80>60, it is easy to assume that B must be a better student than A.
However, let us now consider the total marks for each of these exams. Total marks in the exam that student A appeared for is, let’s say, 100 and that of student B is 200.
When we take into consideration performance of students in terms of the percentages scored, we make the scale common for all students, irrespective of the maximum marks scored.
Percentages are also used when calculating profit and loss. Hence, we use percentages to make the comparisons simple.
How To Calculate Percentage?
Let us see how to convert a percentage into a fraction and vice versa:
Percentage to Fraction
Hence, to convert a percentage into a fraction, we need to divide the percentage value by 100.
Fraction to Percentage
Similarly, to convert any fraction into a percent, multiply the given value with 100.
This is the definite relationship between a percent and a fraction.
What is Percentage Equation?
As you can see here, there are three types of values in the given equation:
- i. Percentage value: 40%
- ii. Maximum value: 600
- iii. Actual value/absolute value: 240
In a percentage problem when any two of these values are given, we can easily calculate the third.
Let us continue with Example 1 of the Percentage Equation = 40% of 600
Let us consider the maximum value to be 100, instead of 600
In the method above, one of the percentage value is specified while you are required to find the other percentage. And that can be done by cross multiplying. With this method, we can solve the percentage problem quickly.
How To Calculate Percentage Increase?
If you understand these simple concepts of percentages well, you can easily solve problems from the quantitative aptitude section regarding percentages. With hard work and strategic practice, you could be one of the 2000 candidates to crack the bank and govt exams.