What is 20% of $130? Unveiling the Secrets of Percentages
What is 20% of $130? A question that might seem simple, but holds the key to understanding a fundamental aspect of mathematics – percentages. Percentages are everywhere, from discounts in stores to interest rates on loans, making it crucial to grasp their meaning and application.
Editor Note: This article explores the concept of calculating percentages and provides a detailed explanation of how to find 20% of $130.
Understanding this concept can be invaluable for making informed decisions in your everyday life.
Analysis: This article offers a comprehensive guide to calculating percentages, featuring step-by-step explanations and real-world examples.
Key Takeaways:
| Key Takeaways | Description |
|---|---|
| Percentage Definition | A percentage represents a part of a whole, expressed as a fraction of 100. |
| Percentage Calculation | Percentages are calculated by dividing the part by the whole and multiplying by 100. |
| Application of Percentages | Percentages are widely used in various fields, including finance, retail, and statistics. |
Calculating 20% of $130:
- Convert the percentage to a decimal: Divide the percentage by 100. 20% / 100 = 0.20.
- Multiply the decimal by the original number: 0.20 * $130 = $26.
Therefore, 20% of $130 is $26.
Understanding Percentages:
- Meaning: Percentages are a way to express a portion of a whole as a fraction of 100.
- Application: Percentages are used in various applications, such as:
- Discounts: When you see a 20% off sale, it means you'll save 20% of the original price.
- Interest Rates: Interest rates on loans or savings accounts are expressed as percentages.
- Statistics: Percentages are used to represent data, such as population growth or survey results.
Understanding the Connection Between Percentages and Fractions:
- Percentages can be easily converted into fractions. For example, 20% is equivalent to 20/100, which can be simplified to 1/5.
Example:
Imagine you are buying a pair of shoes that costs $130 and you see a sign saying "20% off." To calculate the discount, you can use the method described above:
- Convert the percentage to a decimal: 20% / 100 = 0.20
- Multiply the decimal by the original price: 0.20 * $130 = $26
You will save $26 on the shoes.
FAQ:
Q: What is the formula for calculating percentages? A: The formula is: Percentage = (Part/Whole) * 100.
Q: How can I calculate a percentage increase or decrease? A: To calculate a percentage increase, divide the difference between the new value and the original value by the original value and multiply by 100. For a percentage decrease, follow the same process, but subtract the new value from the original value.
Q: What are some real-world applications of percentages? A: Percentages are used in various fields, such as finance, retail, healthcare, and science.
Tips for Calculating Percentages:
- Use a calculator: Most calculators have a percentage button (%) that can simplify calculations.
- Convert percentages to decimals: Dividing the percentage by 100 makes it easier to multiply with other numbers.
- Practice: The more you practice calculating percentages, the more comfortable you will become with the concept.
Summary of Percentages:
Percentages play a vital role in our daily lives, allowing us to understand and represent portions of a whole. By mastering the concept of percentages, you can confidently navigate various financial, retail, and statistical applications.
Closing Message: Understanding percentages empowers you to make informed decisions in various aspects of your life. Whether you're shopping for a discount or understanding interest rates, a strong grasp of percentages is essential. As you delve deeper into the world of mathematics, remember that the power of percentages is just the tip of the iceberg.
