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PERCENTAGES, PERCENTAGES, CALCULATOR AND INDICES

KEY SKILLS AND KNOWLEDGE By the end of this chapter you will be able to: convert and calculate simple percentages estimate percentages convert harder percentages find a percentage of a quantity by using the unitary method apply percentages find percentage composition solve problems involving percentages solve profit and loss problems use a calculator with the basic operations use a calculator with power, root, reciprocal and fraction keys define and use zero index and negative integral indices use index notation for square and cube roots

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Percentages
Percentages are really fractions with a denominator of 100. Historically per cent (per 100) was written as: 100 => % . We use percentages in exam marks, finance, discount sales in shops, composition of food, and so on.

GETTING STARTED
1. The number of small squares shaded red is 45 out of 100. This can be written as (a) 83% How many squares of this grid must be shaded red in order to represent (b) 100% (c) 140%?
45 or 45% or 0.45. 100

2.

What percentage of the diagram has been shaded red? Fractions and decimals are often converted to percentages so that comparisons can be made.

3. Change these fractions to a percentage.

1 2 1 (d) 10 4 (g) 5

(a)

(b) (e) (h) (k) (n)

(j) (m)

3
1 3

1 4 9 10 29 100 150 100 2 3

(c) (f) (i) (l)

3 4 1 5 1 20 3 5 100

Here is an example. Convert Method 1 Method 2

7 to a percentage 10 7 70 Rewrite as which is 70% 10 100 7 100 % = 70% 10 1

To convert a fraction to a percentage, we multiply by 100 or we can convert to 100ths first.

(o) 10

4. Change these decimals to a percentage. (a) 0.65 (b) 0.91 (d) 0.3 (e) 0.35 (g) 0.7 (h) 0.01 (j) 0.007 (k) 3.15 (m) 4.1525 (n) 0.005

(c) (f) (i) (l) (o)

0.80 0.07 0.035 2.075 0.0025

To convert a decimal to a percentage, we multiply by 100 or move the decimal point 2 places to the right.

Here are some examples. Convert these decimals to percentages. (a) 0.45 (b) 4.065 Solution (a) 0.45 100% = 45% (b) 4.065 100% = 406.5%

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5. Convert these percentages to a fraction. Simplify to their lowest form. (a) 50% (b) 70% (c) 10% (d) 25% (f) 15% (g) 5% (h) 105% (i) 140% Here is an example Convert 35% to a fraction. Solution 35% =
7

To convert a percentage to a fraction, put the percentage over a hundred.

(e) 75% (j) 250%

35 7 = 10020 20

6. Convert to a decimal. (a) 50% (b) 15% (f) 1% (g) 6% (i) 509% (j) 10% Here is an example. Convert 75% to a decimal. Solution 75 100 = 0.75 7. Complete this list of basic equivalents.
Fraction
1 2

(c) 99% (h) 475%

(d) 100%

(e) 80%

To convert a percentage to a decimal, we divide by 100.

Decimal 0.25

Percentage

10%
1 3

0.6 100% 0.05

1 8

8.

Estimate to the nearest 10%, the marks received for the various subjects. (a) 78 out of 100 for English (b) 15 out of 20 for maths (c) 22 out of 40 for science (d) 61 out of 80 for visual arts Estimate to the nearest 10%, the area shaded red in these diagrams. (a) (b) (c)

9.

(d)

INVESTIGATION
1. 2. Investigate the current: (a) bank interest on your deposit account (b) home mortgage rates

Collect percentage clippings from newspapers, magazines and catalogues. Discuss the use of percentages with your partner.
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2.01

HARDER CONVERSIONS
2. Write 35.5% as a decimal
2 7 6. Convert to a percentage. 8

Examples 1. Change 0.375 to a percentage 3. Convert 12 1 % to a fraction 2 1 5. Convert 5 % to a decimal 4 Solutions

4. Convert 12 1 % to a decimal

1. 0.375 100% = 37.5%. To change a decimal to a percentage, we multiply by 100. 2. 35.5% = 35.5 100 = 0.355. To change a percentage to a decimal, we divide by 100. 3. 12 1 % = 25 100 = 25 = 1 To change a percentage to a fraction, , 2 2 200 8 we write it as an improper fraction, then divide it by 100 and simplify.
1 4. 12 2 % = 12.5 100 = 0.125. We change the fraction to a decimal, then divide by 100. Another method is to write 12% as 0.12 and 13% as 0.13. Then 12 1 % is halfway, i.e. 0.125. 2 1 5. 5 4 % = 5.25 100 = 0.0525. We change the fraction to a decimal, then divide by 100.

Another method is to write 5% as 0.05 and 6% as 0.06.

Then 5 1 % is a quarter between them = 0.0525. 6.

4 7 = 0.875 100 = 87.5%. We divide the numerator by the denominator, then multiply by 100. 8

2.01
1. Change these decimals to percentages. (a) 0.625 (b) 0.955 (e) 0.725 (f) 0.005 (i) 6.015 (j) 7.105 (m) 0.3 (n) 0.6 Change these percentages to decimals. (a) 34.5% (b) 62.5% (e) 210.5% (f) 15.5% (i) 6.75% (j) 8.05% (m) 0.5% (n) 0.85% Convert to a decimal. (a) 10% (d) 120% (g) 200% (j) 15% (m) 5 1 % 2 2 (p) 8 5 % (b) 60% (e) 2% (h) 500% (k) 10 1 % 2 1 (n) 5 4 % (c) 85% (f) 6% (i i) 12% (l) 6 1 % 2 (o) 105 1 % 4 (c) (g) (k) (o) (c) (g) (k) (o) 0.065 0 505 2.075 10.5 27.25% 68.6% 2.8% 0.1% (d) (h) (l) (p) (d) (h) (l) (p) 0.015 0.7225 1.007 0.001 64.75% 7.25% 1.5% 0.01%

2.

3.

Convert the fraction to a decimal, then divide by 100.

(s) 6 1 % 4 1 (v) 12 8 %

(q) 49 3 % 4 3 (t) 15 4 % (w) 1 % 2

(r) 20 1 % 5 4 (u) 8 5 % (x) 1 % 4

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4. Change each percentage to a fraction in its lowest terms.

(a) 25% (e) 5% (i) 87 1 % 2 (m) 10 1 % 5 (b) 80% (f) 7% (j) 37 1 % 2 (n) 20 3 % 4 (c) 95% (g) (k) (o) (s) 12 1 % 2 62 1 % 2 51 % 2 1 % 2 (d) 1% (h) 33 1 % 3 (l) 6 1 % 4

(q) 66 2 % 3

(r) 2 1 % 2

3 (p) 8 5 % (t) 1 % 4

5. Convert these fractions to percentages (correct to 1 d.p.).

1 (a) 10

(e) 2 3 (i) 1 6 6.

(b) 1 5 (j) 8 1 2 (A) 10 (B) 0.1 (f) 1 8

(c) 1 4 (k) 6 1 4 (C) 0.01

5 (g) 8

7 (l) 15

3 (h) 20

(d) 1 3

1 of 1% is equal to 10

(D) 0.001
Of means times.

7. 8. 9.

In the last netball game, Megan scored 17 goals from 20 attempts. What percentage of her shots were successful? Diego is a real estate agent who receives 2 2 % commission on each property he sells. How much would he receive if he sold a home unit for $260 000? Kara earns $600 per week. Calculate her new wage if she receives a pay rise of 5 2 %.
1 1

10. Timothys overseas fund investment was valued at $45 000. 1 Last month the value fell by 12 2 %. By how much did it fall in value? 11. At the local jeans shop, a pair of jeans marked at $110 was reduced by 10.5%. What price did Ravi pay? 12. A teams record is 12 wins and 8 losses. To qualify for the playoffs, a team must win at least 66 2 % of its games 3 played. Find the number of wins that it must record in the remaining 10 games.

2.02

FINDING A PERCENTAGE OF A QUANTITY

To find a percentage of a quantity, we write the percentage as a decimal or fraction and then multiply by the quantity. You may need to use a calculator for these problems.
- M+ MRC M 9 7 8

:
x

Examples 1. Find 5% of $1400 using decimals. 6 4 5 % 3 2. Find 5% of $1400 using fractions. + 1 2 = 3. Find 8% of 4 kg. 0 / 4. Find 150% of 26 km. 5. Find 7.5% of $500. 6. A persons wage was $720 per week. The Consumer Price Index (CPI) went up 3.2%. If the wage went up by the same percentage, what is the amount of the increase?
ON +/ C CE

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Solutions

1. 2.

(5 100) 1400
5 1400 100

= 0.05 1400 = $70

= 5 14 = $70

Note: We suggest that changing the percentage to a decimal is the preferred method (rather than changing to a fraction) in solving percentage problems. 3. 4. 5. 6. 0.08 4 = 0.32 kg 0.32 1000 = 320 kg 1.5 26 = 39 km

0.075 500 = $37.50 We find 3.2% of $720 = 0.032 720 change the percentage to a decimal = $23.04 per week The preferred method is to change the percentage to a decimal rather than a fraction and times by the quantity.

2.02
1. Find the percentage of the quantity by changing the percentage to a decimal. (a) 10% of $2500 (b) 25% of 400 mL (c) (d) 150% of 4.6 L (e) 3% of 3500 t (f) (g) 1% of $6.60 (h) 99% of 250 kg (i) (j) 5% of 1400 m (k) 0.5% of 2 km (l) Find the percentage of the quantity by changing the percentage to a fraction. (a) 20% of 300 kg (b) 10% of $4.50 (c) (d) 60% of 90 min (e) 95% of $800 (f) (g) 2% of 450 t (h) 120% of $400 (i) (j) 8% of 1600 g (k) 24% of 10 000 L (l)

92% of 200 cm 47% of 600 km 110% of 129 kL 8% of 6 L 15% of 1500 g 77% of 700 km 250% of 10 L 1% of 15 250 mm

2.

3.

Use the percentage key (if your calculator has one) or change to a decimal before using your calculator. (a) 40% of 1.2 kg (b) 8% of 5.8 m (c) 84% of 5 km (d) 65% of 0.6 t (e) 150% of 3 h (f) 275% of 6.8 L : - M+ MRC M (g) 72.5% of 450 mL (h) 7.5% of 2 t (i) 26.8% of 4600 g ON 9 x 8 +/ - 7 6 (j) 0.5% of 2400 cm (k) 0.06% of 20 000 mL (l) 0.08% of $10 000 4 5 (m) 8 2 % of 10 km (p) 20 1 % of 5 t
5
1

(n) 12 4 % of $2000 (q) 34 2 % of 5000 mL

5

(o) 67 2 % of 2 h (r) 4 % of $25 000

1

1
C /CE

+
=

4. 5. 6.

Georgio earns $750 per week. He was given a pay rise of 2%. What was the amount of the increase? It was estimated that about 5% of Australias working population of 7 200 000 were unemployed. How many people is this? A school has a population of 440 and 10% were absent on an excursion. How many students were present?

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7.

The Jones family decided to save 15% for a family holiday at the end of the year. Mum and Dad earned a total of $74 000 and the two teenaged children earned $2650 during the year. Find the total amount of savings allocated for the trip.

8. 9.

Which is the greater sum of money and by how much: 12 2 % of $1200 or 25% of $608? Find the new prices for each of these items. (a) TV (b) fridge

was $1800

15% discount was $2250 12% discount

(c) Table and chairs

(d) BBQ

were $1680

10% discount

was $816

12 1 % discount
2

10. A financial consultants income was $85 400 p.a. and she paid income tax of $28 000. Find what percentage of her income went to tax? 11. There were 60 apples packed in a box. 5% were bruised. How many good apples were there?

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12. Ian was earning $845 per week. The Consumer Price Index (CPI) went up 3.5%. If his wage went up by the same amount, what is his new wage? 13. An insect population grew at 22.5% per breeding cycle. If there were originally 4200 insects in a colony, what was the increase in number after the first cycle? 14. An Australian importer paid 15 2 % tax on imported glassware. If the overseas price for a glass bowl was $65, find the price the importer paid when the tax was added. 15. A relatively rare disease affects roughly 0.02% of people. If there are 4 million people, how many are affected? 16. A large manufacturing company spent 22 4 % of its expenses on advertising. If its total expenses were $22 million, how much did it spend on advertising?
1 1

Extension
17. 5% of a light bulb consignment was tested for faults. 3% or 30 of the bulbs were found to be faulty. How many bulbs were there in the consignment? 18. At a party, there were 75 fewer women than men. If a total of 375 attended the party, what percentage were women? 19. In a school, 30 boys and 20 girls entered a science competition. Prizes were awarded to 10% of the boys and 20% of the girls. Find the total percentage of entrants who received a prize.

2.03

PERCENTAGE COMPOSITION

Percentages are sometimes used to give the composition of mixtures. This mixture is 3 parts orange and 2 parts mango juice.

Example 1 Express 3 cm as a percentage of 20 cm Solution Write 3 cm as a fraction of 20 cm.

= = 3 20
5

To change a fraction to a percentage, we multiply by 100 %.

1

100 3 % Change to a percentage. 1 20

= 15% Example 2 What percentage is 600 mL of 2 L? Solution Write 600 mL as a fraction of 2 L. = 600 =
30

2000

Change to the same units of mL.

600 100 Chan nge ge to to a a percentage percentage by by multiplying multiplying by by 100. 100. % Cha n 1 2000

= 30%

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Example 3 A breakfast cereal has the following information about its composition printed on the packet.

Every 60 grams contains: Protein Fat Carbohydrate Sugar Other ingredients

5 grams 1 gram 45 grams 4 grams 5 grams

Find the percentage composition of the cereal. (Correct to 1 d.p.) Solution Percentage of protein Percentage of fat Percentage of carbohydrate Percentage of sugar = = = =
5 100 % = 8.3% 60 1 100 1 % = 1.7% 1 60 45 100 % = 75% 60 1 4 100 % = 6.7% 60 1 5 100 % = 8.3% 60 1

Percentage of other ingredients =

2.03
1. Express the first quantity as a percentage of the second. (a) 40 mL, 80 mL (b) 5 kg, 25 kg (d) 4 g, 60 g (e) 24 min, 100 min (g) 120 ha, 400 ha (h) 12 kg, 20 kg (j) 15 m, 80 m (k) 85 t, 1000 t (m) 60 mg, 20 mg (n) 450 mL, 100 mL 2. Express the first quantity as a percentage of the second. (a) 65 cm, 1 m (b) 6 h, 1 day (d) 200 cm, 2 m (e) 800 mg, 2 g (g) 360 mL, 2 L (h) 250 m, 2 km (j) 4.5 km, 400 m (k) 2.8 m, 400 m This is the label on a fruit juice carton. This fruit juice mixture is 3 parts orange to 2 parts mango.
If the first quantity is larger than the second quantity, then the % is greater than 100%.

(c) (f) (i) (l) (o) (c) (f) (i) (l)

300 cm, 750 cm 35 s, 50 s 48 L, 200 L 18 min, 72 min 27 days, 18 days 500 kg, 2 t 45 min, 2 h 8000 m2, 2 ha 3 days, 10 h

Remember to change to the same units.

3.

The fruit juice carton contains 1 litre. (a) How much orange juice does it contain? (b) How much mango juice does it contain? (c) On the carton it states that there are 60 mg of vitamin C for every 200 mL of juice. How many milligrams of vitamin C are contained in a full carton? 4. 5. In the class there were 12 boys and 8 girls. What is the percentage composition of the class (i.e. what percentage are boys and what percentage are girls)? A certain metal alloy contained 750 grams of copper and 250 grams of zinc. Find the percentage composition of each metal.

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6.

Of the 1000 vehicles to cross the Anzac Bridge during a quarter hour period, there were 650 cars, 150 vans, 80 trucks and the rest were buses. What percentage of each type was there?

7. A particular brand of baby food contained 70% carbohydrate, 15% protein, 5% fat, 4% minerals and the rest was water. Find in grams the amount of each in a 500 g tin of baby food.

8. Nickel silver contains 2 parts copper, 1 part zinc and 1 part nickel. What is its percentage composition? 9. Concrete is usually made from 1 part cement, 5 parts blue metal and 2 parts sand. Find the percentage composition.

10. Ordinary air is composed of about 78% nitrogen, 21% oxygen and 1% various other gases. How many cubic metres of each gas are there in a room of 500 m3? 11. Yummy cat food contains 10% protein, 2% fat, 1% fibre and 1% salt. For a can of 250 g, find what the mass is for each of these ingredients. 12. On a recent Rugby tour to New Zealand, the team consisted of three coaches (head coach, forwards coach, backs coach), 22 players and 5 support staff (doctor, physiotherapist, manager, and so on). Find the percentage of the team represented by each group. 13. Kamal sold his home for $550 000. The real estate agent received $8500 commission for selling the house. What percentage is this of the selling price? 14. A tradesman mixed the following paint pigments to obtain the required colour of paint: 125 g white, 50 g yellow and 25 g green. Find the percentage of each colour. 15.

School Sports 10% 10% Savings 15% Fares 20% Leisure 45%

This sector graph shows Francines weekly budget. If she receives $40 allowance one week, how much did she spend on (a) fares (b) leisure?

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INVESTIGATION
Collect some labels on food packaging or bottles that list percentage composition. Examine their content. Are you surprised at what you are actually eating? Discuss the nature of the food we eat. A healthy body and a healthy mind?

2.04

PROBLEM SOLVING WITH PERCENTAGES

Percentage change
Example 1 A retail store marks up the wholesale price on a dress listed at $80 by 65%. What is the retail price of the dress? Solution Method 1 We find 65% of $80 and then add it on. 0.65 80 = $52 retail price = $52 + $80 = $132 Method 2 We add 65% to the original 100% to give 165% i.e. 1.65. 1.65 80 = $132 This is the preferred method.
To find the percentage increase, we add the increase per cent to the 100%.

Example 2 A nursery was having its annual clearance sale on all plants. It discounted the trees by 15%. Find the cost of buying a cherry tree with a listed price of $75. To find the percentage Solution As the price is marked down, we subtract decrease, we subtract the decrease per cent from 100%. 15% from the original 100% to give 85%. 0.85 75 = $63.75 retail price = $63.75

Increasing a value by more than 100%

Example 3 Increase Solution (a) 6 by 100% (b) $2 by 150%
Ill do better next game with a 110% better effort!

(a) Using the rule above, we add 100% to the original 100% to get 200% (in other words, we double the amount!). Hence 200% of 6 =
200 6 = 2 6 = 12 (not the expected 9!). 100

(b) Here we add 150% to the original 100%. Hence 250% of $2 = 2.5 2 = $5 (not the expected $3!). It is confusing language. For instance, quite often a Rugby League forward would claim that he will aim to play 110% better in the next match after a disappointing game. Does he mean just an increase of 10%? Or, does he mean 110% increase in work rate. If it is the latter, then this is more than double the participation rate of the previous game!

Unitary method
Example 4 If 12% of a number is 60, what is the number? Solution 12% of the number 1% of the number 100% of the number = 60 =
60 12 60 100 = 12 1
If you find 1% of a quantity, you can easily find the 100%.

divide by 12 to find 1%, do not calculate until the last step. times by 100 to find 100% the number is 500.
Percentages, Calculator and Indices

= 500

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2.04
Do I increase or decrease?

1.

(a) (d) (g) (j) (m)

Increase $85 by 10% Increase 50 L by 100% Increase 24 cm by 150% Decrease $400 by 10% Decrease 8 m by 25%
1

(b) (e) (h) (k) (n)

Increase 6 kg by 40% Increase $1258 by 1% Increase $386 by 6.4% Decrease 60 kg by 40% Decrease 450 L by 100%
4

(c) (f) (i) (l) (o)

Increase 4.2 m by 15% Increase 46 kg by 200% Increase by 824 g by 0.5% Decrease 6 L by 20% Decrease $480 by 200%
5

(p) Decrease 150 mL by 1 2 % 2.

(q) Decrease 550 g by 10 1 %

(r) Decrease $755 by 2 2 %

The local shop increases the wholesale price by 45% on all its goods to calculate the retail price. (This enables them to pay the wages of the employees, the lease of the floor space, etc, and to make a profit). Find the retail price of the following given their wholesale price (to the nearest cent): (a) hair dryer $38 (b) vacuum cleaner $265 (c) cordless phone $74

(d) electric shaver $82

(e) a ream of paper $3.40

3. 4.

The population of a regional town on the North Coast was expected to increase by 6% over a 5 year period. If the current population is 24 680, find the population at the end of the 5 year period. A charge of 15% GST (Goods and Services Tax) is charged on selling hot charcoal chicken. If the retail price for one whole chicken was $8.50, find the new retail price with the surcharge included.

5. 6. 7.

Australia exports live sheep to the Middle East but there is a fatality rate of about 5% on a normal run. If a container ship carries 8500 sheep, how many sheep survive the trip? Which is the larger amount: 50% of 196 kg or 10% of 1 tonne? At a department store sale, all furniture items were discounted by 25%. Find the price on the following items:

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(a) a set of table and chairs

was $896

(b) a lounge chair

was $364

(c) computer desk

was $248

(d) a sideboard

was $482

8. The Chen family sold their house for $645 500. How much do they actually receive from the sale if the real estate agents commission and legal expenses amount to 4%? 9. The value of a computer is $3450. If it depreciates each year by 15%, find its value after (a) one year (b) two years.

10. A log of timber has a volume of 4.8 cubic metres. If 35% of the volume is usually lost through milling, what volume of timber remains for use in the construction industry? 11. (a) (b) (c) (d) If 15% of a number is 120, find the number. If 45% of the school population are 180 boys, find the total population. A family spends 30% of its weekly income on rent. If the rent was $330, find the weekly income. If 650 L was lost through a leak and this represented 5% of a tank, find the total capacity of the tank.

12. Lachlans yearly income was increased by 5%. If this resulted in a rise of $2250, what was the previous income? 13. Mrs Papadopoulos received a 15% discount on the purchase of a television set. If she saved $345, find the marked price of the TV.

Extension
14. Find 10% of 20% of $240. Is this the same as finding 20% of 10% of $240? 15. A hardware store (BBD) had a 10% sale on all its goods. In the following week it reduced all plumbing items by a further 10%. (a) If Ed bought a plumbing item originally marked at $36.50, what did he pay for it at the end of the second week? (b) Another hardware store (BBQ) just had one straight discount of 20% on all plumbing items. Did Ed get the best deal? 16. Each of two managed investment funds began with $10 000 and behaved as follows: Fund A increased 10% for the first half of the year but then decreased 20% in the second half. Fund B decreased 10% for the first half of the year but then increased 20% in the second half. Which managed fund had the most money at the end of the year? 17. The value of dads new car worth $35 000 depreciates 15% in the first year and then a further 10% in the second year. What is the value of the car at the end of the second year? 18. Nikki improved her maths marks by 10% to score 88. What was her previous mark?

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19. An electric shaver retailed at $138 which included the 15% GST (Goods and Service Tax). What was the original price? 20. In a science test the average of three students from one class was 65% and the average of two students from another class was 70%. If we combined all their marks, what is the average per cent? 21. Suppose the value of one US dollar is 30% more than the value of one AUD dollar. An American tourist purchases a $35 souvenir with $30 US dollars. What should his change be, in Australian dollars, from this purchase? 22. The cost of a can of drink, including 5% sales tax, is $1.20. If the price of a can without sales tax is reduced to 70% of its original cost, what is the new price before the tax is added? 23. The price of an article is reduced by 20%. What percentage must we increase in order to restore the reduced price back to the original value? 24. The price of an article is increased by 25%. What percentage must we decrease in order to restore the increased price back to the original value? 25. 10% of Petrovs monthly income is the same as 5% of Nadias. If Petrov earns $3000 per month, what is Nadias monthly income?

2.05

APPLICATION OF PERCENTAGES

Percentages (like statistics) can be used to distort the truth

Example 1 Clever BBQ Discounts wanted to clear its stock of barbecues. A particular model could not sell for $600 during the summer months. For two weeks in February, the price was increased to $800. The following week it advertised: summer clearance, 20% off the marked price. What was the selling price of this particular model of barbecue? Solution To find 20% discount, we only pay 100 20 = 80% of $800. This method is quicker than finding 20% of $800 and subtracting it from $800. = 0.8 800 of means multiply = $640 which is $40 more than the previous price! Little Johnny came home and told his mother that he got 80 for his last assessment. But he failed to indicate that it was out of 140 and not 100! What was his true percentage?

Example 2

Solution

If the assessment was out of 100, then it would have been which is quite different!

80 = 80%. 100 80 100 But if the assessment was out of 140, then the e percentage would be % = 57.1% 140 1

We need to always ask what the raw score is out of. (And, what was the class average if we are comparing Johnny to his peers. By the way, there is nothing magical about the 50% benchmark.)

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Profit and Loss

Shopkeepers and retailers generally sell things for a profit. After all, they are in the business of making a profit. On occasions, they sell things for less than what they paid for it and make a loss. Selling Price (S.P.) Selling Price = Cost Price (C.P.) + Profit = Cost Price Loss

Example 3 A computer shop purchases video games for $80 and sells them for $120. Find the (a) profit (b) profit as a percentage of the cost price (c) profit as a percentage of the selling price. Solution (a) Selling price Cost price Profit = $120 = $80 = $120 $80 = $40 (b) Profit as a % on the C.P. = 80 1 % = 50%
1

40

100

(c) Profit as a % on the S.P.

40 100 % = 1 120
3

= 33.3% In business, it is more convenient to express the profit margin as a percentage of the selling price. Can you give a reason for this? Example 4 Al bought a new car for $25 000 and 4 years later sold it for $17 000. Find his loss per cent on the cost price. Solution Cost price Selling price Loss Loss % on C.P. = $25 000 = $17 000 = $8000 (cost price selling price)
4

8 000 100 = 25 000 1 %

= 32% Most cars depreciate with age (they lose value each year).

Simple interest (or flat interest)

Interest is what the bank pays you for depositing money with them. Of course, they then lend it to others at a higher interest rate for housing loans, and so on. Example 5 Find the amount of simple interest earned on $500 at 6% for (a) 1 year (b) 4 years. Solution (a) Interest for one year = 6% of $500 = 0.06 $500 = $30

= 4 (0.06 $500) 4 times the interest for one year = $120 Simple interest can also be found by using the following formula. (b) Interest for 4 years S.I. = P R T where P = principal amount, R = rate of interest, T = time in years. 100 (Latin per annum)

6% p.a. means 6% per year

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2.05
1. Susie received a mark of 45 for a history project and when her parents heard about it, they were not happy. But when she explained that the project was out of 60 they congratulated her. Find her true percentage and compare it with the falsely assumed 45%. Clever Discount store wanted to clear its Christmas stock. A box of decorations usually costs $25 and, on the 24th December, the price was increased to $30. After Christmas, it was advertised at 20% off the marked price. What was the selling price of the decorations? 3. 4. One electrical store was selling a hi-fi set marked at $950 with a 10% discount. Another store sold the same hi-fi sound system for a marked price of $1032 with a 20% discount. Which was the cheaper to buy? Two bookshops advertised the same travel book with the publishers recommended retail price of $40. Store A offered a straight 20% discount, while Store B initially offered 10%, followed by another 10%. Which was the cheaper offer? A newsagent buys pens for $4 and sells them for $6 each. Find (a) his profit (b) his profit as a percentage of the cost price (c) his profit as a percentage of the selling price.
I know why retailers express their profit on the selling price and not the cost price.

2.

5.

6. 7.

Apples were bought by the local greengrocer at $1.44 a dozen and sold at 20 c each. Find (a) the gain per cent on the cost price (b) the gain per cent on the selling price. Nicholas bought a new car for $30 000 and 3 years later sold it for $24 000. Find (a) his loss (b) his loss as a percentage of the cost price (c) his loss as a percentage of the selling price.

8. A shop bought some carpet for $80 per m2 and sold it to gain a profit of 45%. What was the selling price? 9. Complete the table below.
Cost price $150 $865 Profit/Loss $25 profit $125 loss $1200 profit $43 loss $6400 $20 000 $6800 $110 $7000 $18 450 Selling price

10. Brian bought a bike for $460 and later sold it for $300. Find the loss as a percentage of the cost price. 11. The supermarket sells oranges at $16 per case. If they are making a profit of 25% on the selling price, what did the oranges cost?

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12. An outdoor table was sold for $216 which gave a profit of 20% on the cost price. Find the cost price. 13. A project home builder sold a house for $350 000 and calculated that they had made a profit of 35% on the sale price. How much did the house and land cost the builder? 14. Find the simple interest earned on: (a) $1000 at 5% p.a. for 1 year (b) $3400 at 4% p.a. for 1 year (c) $685 at 5% p.a. for 2 years (d) $12 000 at 10% p.a. for 5 years (e) $5600 at 8% p.a. for 4 years (f) $2750 at 6.5% for 3 years (g) $6385 at 4.8% p.a. for 2 years (h) $15 900 at 5.5% p.a. for 5 years (i) $20 000 at 6 4 % p.a. for 4 years (j) $18 500 at 7 4 % p.a. for 5 years 15. Find the simple interest paid on $2000 at 6% p.a. after (a) 1 year (b) 2 years (c) 5 years?
3 1

16. Note that the interest rate must match the time periods, for example, find the simple interest earned on $1400 at 8% p.a. for 18 months. Here we need to convert 18 months to 1.5 years before using the simple interest formula. 17. Find the simple interest earned on: (a) $600 at 8% p.a. for 18 months (b) $1000 at 6% p.a. for 30 months (c) $8400 at 1% per month for 2 years (d) $3500 at 0.5% per month for 3 years, 6 months 18. Commission Many people earn their income by receiving commission on the goods they sell, for example, real estate agents, car salespeople, and so on. (a) Ivan receives 5% commission on selling printers. Find how much he receives if he sells $120 000 worth of printers. (b) A car salesperson receives a retainer (a small wage just in case the person does not sell a car that week!) of $200 plus a 2% commission on selling a car for $20 000. Find his income for this week. (c) An estate agent charges 5% on the first $20 000 of a sale and 2 2 % on the remaining amount. Find his commission if he sold a house for $420 000. (d) Laura was employed as a salesperson for a cosmetics firm. She received a retainer of $250 plus a 4% commission on sales. Find her income for each of the following weeks: (i) $15 650 (ii) $12 600? (e) Another estate agent charges 3 2 % on the first $50 000 and 2% on the remaining amount. Find her commission if she sold an apartment for $375 000.
1 1

INVESTIGATION
1. Collect examples of the misuse of percentages from newspapers, magazines, and so on. 2. Find out the different interest rates that you can earn from different savings and investment accounts from the banks. Which is better: being paid interest annually, monthly or daily? 3. Can you find the best credit card deal for your parents?

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2.06

MISCELLANEOUS PROBLEMS

2.06
1. 2. 3. 4. 5. A car dealer bought a car at auction and marked the price up 30% from what he paid. When the car did not sell, he had a discount sale of 20%. Did he make a profit or a loss on the transaction? At the markets, 460 cases of cherries were offered for sale, but only 85% were sold. How many cases remained unsold? A hail storm damaged 30% of the apple trees. If the expected income for the whole crop was $45 000, find its worth now? A person pays 30% of his wages in rent. What is his annual income if he pays $240 per week? The value of a house increased by 10% during the past year. If the current value is $410 000, what was the original value?

6. 7. 8. 9.

An importer paid 20% tax on linen. If he sold the linen tablecloth for $160 what was the overseas price? Regional High School has a population of 640 students. On a particular day, 25% of students were absent due to an excursion and illness. Calculate the number of students present. If a 50 m cable on the bridge expanded 0.2% during hot weather, what is its new length? The value of a computer depreciates 15% each year. If it was purchased for $2800, find its value after 2 years.

10. The retail price of a lamp is $92, including the 15% GST. Find the original price of the lamp. 11. After exercising and dieting, Leon lost 1.2 kg in weight. This represented a loss of 2%. Find his original weight. 12. An alloy consisted of 20 parts copper, 12 parts aluminium and 8 parts iron. Find the percentage composition. 13. A real estate agent receives commission of 3.5% on the first $50 000 and 2% on the remainder. Find her commission in selling a house for $480 000. 14. If goods were marked at $85 and sold for $72.25, what was the percentage discount? 15. Find the simple interest earned on $1200 at 6.5% for 30 months.

Extension successive increases or discounts

16. The value of Sydney property increased 10% each successive year for 3 years. What is the equivalent single rate percentage increase? 17. Crazy Discount Store had a discount of 10%, followed by another 10% discount. What is the price of a toy marked at $46.

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18. What single rate of discount is the equivalent of successive discounts 20% and 10%? Is this the same as a 10% discount followed by a 20% discount? 19. Joes hardware store reduced the retail price of some building materials ($200) in the first week by 10% and then by a further 5% the following week. Kellys hardware store in the next suburb just had a straight 15% discount. What is the best buy? 20. Find 3% of 4% of $1000. 21. If the tax on cars was increased from 25% to 27 2 % and this increased the price of a particular car by $585, find the price of this car after the increase. 22. By selling a computer for $2880, a dealer makes a 20% profit. At what price should the computer have been sold to make a profit of 25%? 23. What is the percentage change in area of a square if we increased its sides by 10%? 24. What is the percentage change in volume of a cube if we increased the dimensions by 10%? 25. If the length of a rectangle is increased by 10% and the width is decreased by 10%, what is the percentage change in the area if any? 26. The cost of a can of drink, including 15% GST is $1.20. If the price of a can of drink, without sales tax, is reduced to 70% of its original cost, what is the new price before the tax is added? 27. How many litres of water must be added to a 100 litre container of orange fruit juice that is 20% water, to produce a mixture that is 33 3% water?
1
1

28. The value of gold increased by 10% each year. Find the percentage increase over 4 years. (Let x be the initial value.) 29. The value of gold then fluctuated over the next 4 years, i.e. it increased by 10%, decreased 10%, increased 10% and then finally decreased 10%. Find the percentage change over 4 years. (Let x be the initial value.) 30. On a test consisting of 30 questions, Peter had 50% more right answers than he had wrong answers. Each answer was either right or wrong. How many questions did he answer correctly?

Sonya Kovalevskaya
Sonya Kovalevskaya was born in Russia in 1850 and died in Stockholm in 1891. She attended lectures at the University of Heidelberg in Germany and studied privately with German mathematician Weierstrass in Berlin. She worked in the field of Applied Mathematics in the area of the equations of Motion. In 1883 she became the first woman lecturer at the University of Stockholm. She received an award from the French Academy for her work On the Rotation of a Solid Body about a Fixed Point. Kovalevskaya also worked in the area of complex analysis and made use of work done by Euler, Poisson and Lagrange. She wrote plays, poems, novels and an autobiography, as well.

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2.07

CALCULATOR WORK

A new scientific calculator model seems to appear every year. Your teacher could be using a class set or the class may be using different brands. We will assume that your calculator has an order of operations facility built into it and that you know how to use the 4 basic operations. Please consult your manual for use of the other keys. It is also good to have a reasonable estimation skill to check your answers.

Basic operations
To estimate round off using the leading number. In the first example we have 90 + 70 20 = 140; we round to the nearest ten.
Problem 92.46 + 73.77 19.62 40 + 6 5 21.54 (4.95 + 5.06 )
375 9.82 + 11.36

Estimation 140 70 200 19 50

Calculator steps 92.46 + 73.77 19.62 = 40 + 6 5 = 21.54 ( 375 4.95 + 5.06 ) =

Answer 146.61 70 215.62 17.71 50

( 9.82 + 11.36 ) = ) 10 =

103 10 98 10

(103 98

2.07
1. Make an estimate first, and then use your calculator to find the value of the following correct to 2 d.p. (a) 98 + 103 + 52 (b) 149 53 (c) 2003 + 494 + 28 (d) 4012 896 307 (e) 607 410 + 292 (f) 777 289 118 (g) 5010 3950 + 655 (h) 69 31 22 (i) 7.9 2.1 (j) 168 22 (k) 11.5 9.8 (l) 3.5 10.7 6.2 (m) 25.6 5.3 8.9 (n) 151 5.2 11.4 (o) 4.1 5.3 8.9 (p) 120.4 5.9 9.8 (q) 5.5 + (18.4 8.9) (r) 140.2 (18.9 6.1) (s) 6.3 (11.2 + 8.4) (t) 1.7 (60.6 + 17.8) (u) 10.5 (16.7 7.2) (v) 21.3 (52.9 47.8) (y) 2.
50.25 17.8 8.3

(w) (z)

102.4 4.2 + 5.9 6.73 5.82 26.83 4.97

(x)

65.6 4.3 + 3.8

Evaluate the following to 2 d.p. (a) 29 5 + 31 5 (d) 101 9 98 9 (g) 16.7 4.85
5.82 + 6.96

(b) 95 80 + 15 80 (e) 20 72 20 32 (h)

35.76 + 76.38 8.3 7.8

(c) 16 2 10 2 (f) 35 9 35 7 (i) 43.84 12.91

6.36 0.46

3.

Use your calculator to solve these problems. (a) If the company increased its profit by 5% on last years amount of $350 000, what is its profit? (b) If a disease affects 2% of people, how many Australians are affected if there are 20 million?
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(c)

One million trees are to be planted in the next five years. How many trees are planted per day?

(d) In the U.S. the unit miles is used for distance. If 1 mile equals 1.61 km, find how far 350 miles are? (e) A major Queensland resort received the following tourists: Australia 65 872, Japan 36 496, other Asian countries 25 832, US/Canada 34 900, Europe 45 721. Find the total number of visitors. (f) If your heart beat is approximately 75 beats per minute, how many beats are there in 365 days? (g) A machine can pack 1200 apples into boxes every 1.5 hours. How long will take to pack 50 000 apples? (Assume operations are non stop) (h) A tap drips at the rate of 5mL per second. How much water is lost in Save water, we live in one of the (i) one day? (ii) 30 days? (iii) 365 days? driest continents (i) Wheat is being loaded into a container at the rate of 8.5 tonnes per minute. on the Earth. How long will it take to load 275 tonnes? (j) The worlds population reached the first billion people in 1820 and then the second billion in the next 72 years. Find the rate of growth per year of the second billion. (k) How many seconds are there in a week (7 days)?

2.08

POWER, ROOT, RECIPROCAL AND FRACTION KEYS

You may need to use the shift or inv key for the following. Consult your scientific calculator manual for how to use these keys.
Operation Find 43 81
3

Calculator step Use the power key x y 4 xy 3 = Use the square root key 81 = Use the cube root key 3 64 = Use the reciprocal key 10.6 4.9 = =
3

Answer 64 9 4

64

1 10.6 4.9

0.18

3 1 + 4 8

Use the fraction key 3 4+1 8= 7 8

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2.08
Evaluate the following correct to 2 d.p. 1. (a) 24 (f) 625 (k) 3 125 (p) (u)
1 7.5 1 2.4 + 3.5

(b) 33 (g) 169 (l) 3 1728 (q) (v)

1 2.32 1 9.3 6.7

(c) 44 (h) 529 (m) 3 512 (r) (w)

1 3.43 1 2.6 3.7

(d) (2)5 (i) 0.0225 (n) 3 1331 (s) (x)

1 5.6 1 16.71 3.85

(e) (7)3 (j) 0.2916 (o) 3 729 (t) (y)

1 98.4 1 0.0064

2.

1 3 + 4 5 7 5 (e) 2 1 9 18

(a)

3 3 + 16 12 2 1 (f) 1 2

(b)

( )

2 5 1 3 6 2 1 (g) 4 2

(c) 2

(d) 3 2 (h)

( )

( )
7
1 2

5 8

3 4

3. 4. 5. 6. 7. 8.

Find Find

(a) (a)

3 of 2 km 8 4 of 3.75 m 5

(b)

5 of 4 kg 8

(b) 72% of 2.6 tonnes (b) 67 or 76? (b)

Which is larger Which is larger

(a) 45 or 54? (a) 3 2 or 2 3 ?

( 3)

or

( 2) ?
3

(a) Is (4.6 + 1.4)2 the same as 4.62 + 1.42? (b) Is 22 32 the same as (2 3)2? If a = 27.6, b = 142.9 and c = 0.05, evaluate the following (correct to 1 d.p.). (a) a b (f) a2c (b) b c (g) b+c (c) a c (h) b c2 (d) abc (i) bc2 (e) ab c (j) ab c

9.

Solve the following problems using your calculator. (correct to 2 d.p.) (a) If AUD$1 = US 63.5 cents, find the value of (i) AUD$100 (ii) AUD$850 (b) A company makes a profit of $248 000 and there are 12 investors. How much does each receive if the profit is divided evenly among each investor? (c) How many minutes are there in 30 days? (d) What is the speed of a car (in km/h) which travelled 456 km in 5 hours and 30 minutes? (e) The price of Sydney property doubles approximately every 7 years. If a property is now worth $300 000, what will its price be in 28 years time? (f) A retail store bought a lamp for $45 and sold it for $80. Find the gain per cent on the cost price. (g) Increase $1500 by 10% and then decrease it by 20%. Suppose we now increase $1500 by 20% and then decrease it by 10%. Which was the better deal? (h) The area of a square field was to increase from 10 000 m2 to 14 400 m2. What was the percentage increase in the length of its side?

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2.09

ZERO AND NEGATIVE INDICES (EXTENSION)

In our work on number patterns in Year 7, we have already observed that: 2, 4, 8, 16, 32, is a pattern that increases by a factor of 2. In other words, each number is twice the preceeding number. We could rewrite the pattern in index form as: 21 = 2, 22 = 4, 23 = 8, 24 = 16, 25 = 32. Example 1 Suppose we now rewrite this sequence of numbers in reverse order (i.e. in descending order).
25 24 23 22 21 20 2-1 2-2

32

16

Complete this table. Solution In this case we are dividing each term of the sequence by 2. 32 2 = 16; 16 2 = 8, 8 2 = 4, 4 2 = 2
1 1 2 2 = 1, 1 2 = 2 , 2 2 = 1 4

Thus 20 = 1, 21 = 2 , 22 = 2 = 4 2 What would 23 and 24 be? Example 2 Calculate the answers to these index questions by using expanded form. (a) 32 34 (b) 35 33 (c) (33)2 (d) 33 33 Solution (a) 32 34 = (3 3)(3 3 3 3) = 32 + 4 = 36 3 3 3 3 3 (b) 35 33 = = 353 = 32 3 3 3 (c) (33 )2 = (3 3 3) (3 3 3) = 33+3 = 36 3 3 3 (d) 33 33 = = 333 = 30 = 1 3 3 3 3 3 3 1 1 (e) 33 35 = = 335 = 32 = 2 = 9 3 3 3 3 3 3 When we multiply we add the indices. 3m 3n = 3m + n When we divide we subtract the indices. 3m 3n = 3m n n When we raise a power to another power, we multiply the indices. ( 3m ) = 3mn providing that all the base numbers are the same. We have observed that any number raised to the power zero is 1 and that we can write the reciprocal of powers using negative indices. Any number raised to the power zero is 1 30 = 1 1 A negative index is the reciprocal power 32 = 2 3 Using square numbers we can write
1 2 2 1 2 1

(e) 33 35

Remember that 31= 3.

We also observe that (9 ) = 9 9 = 91 = 9 Hence 9 2 = 9 Similarly

1 1

1 2

( 9 ) as
2

9 9 =33 = 9

( 8)
3

3 1

= 38 38 38 =222=8
1 1

Now (8 3 )3 = 8 3 8 3 8 3 = 81 = 8 Hence 8 3 = 3 8
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Fractional index means that we take a root of the number. An index of a half means to take the square root. An index of a third means to take the cube root. An index of a fourth means to take the fourth root and so on. If a is any positive number, then a m = m a the mth root of a. i.e. a 2 = a and a 3 = 3 a
1 1 1

Example 3 Evaluate Solution

1

(a) 16 2

(b) 812
1

(c) 27 3

(d) 125 3
1 1

(a) 16 2 = 16 = 4
3

(b) 812 = 81 = 9
2 1 2

(c) 27 3 = 3 27 = 3
3 2

(d) 125 3 = 3 125 = 5

Example 4 Evaluate Solution

(a) 4 2

(b) 8 3
m

(c) 16

(d) 25

For indices of the type a n , we take the nth root first and then raise it by the power of m.
2 3 3 2 1 1 1 (b) 8 3 = 8 3 = 3 8 = 22 = 4. i.e. a = a n (a) 4 2 = 4 2 = 4 = 23 = 8 Where there are both negative and fractional indices together, , we take out the negative index first by finding the reci iprocal of the number. m n m 3

( )
3 2

( )

(c) 16

1 2

1 16
1 2

1 1 = 4 16

(d) 25

1 25
3 2

25
1 2

25

1 1 = 125 53

2.09
Extension 1. Use the first 3 Index Laws to calculate the following: (Leave your answer in index form). (b) 44 43 (c) 35 3 (a) 23 22 3 2 3 4 2 (e) 2 2 (f) 25 23 (d) 2 2 2 4 3 2 4 (g) 3 3 (h) 4 4 4 (i) 53 52 54 (j) (23)2 (k) (22)5 (l) (43)4 4 2 3 2 4 3 2 (m) (4 ) (4 ) (n) (4 4 ) (o) (23 22)2
(p) (34 32)3
2 57 (s) 5 55 6 3 (v) 4 4 2 4 3

(q) (t)

22 24 2 23 34 33 33 34

(r)

4 4 43 46
2

4 5 (u) 3 3 7 3 4 5 (x) 43 .52 5 .4

3 4 (w) 32 4 3 4

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2.

Evaluate the following. (a) 80 (d) (1)0 (g) 41 (j) 42 40 (m) (33)0

(b) (23)0 (e) 23 (h) 52

5 (k) 35

(c) ( 2 )0 (f) 32 (i) 64 64 (l)

24 20

(n) (30)3 (q) 2 30

1 81 1 (w) 2

(o) (21)2 (r) (2 3)2 (u)

23 24 1 1 3

(p) (32)1
1 22 31 (v) 2 3

(s)

(t)

()
1 1

(x)

()
1

3. Simplify the following.

1 1

(a) 4 2

1 1

(b) 64 2 (e) 8 3 (h) 16

1 2 1 3

(c) 100 2 (f) 27 3 (i) 27 (l) (o)

4 9 1 8 3
1 3 2 3 1 3 1 2

(d) 49 2

(g) 125 3 (j) 36 (m)

1 2 1 3

(k) 64 (n)
1 9
2

( )
8 27
3 2

()

1 2

(p) 16 2

(q) 8 3
3 2

(s) 64 3 (v) 100

(t) 4

3 2 3 5

(r) 100 2 (u) 125 (x) 81

3 4

Index laws can only be applied to multiplying or dividing with the same base.

(w) 32

4. Evaluate the following. (a) 23 + 32 (e 52 42 5. (a) (b)

3

(b) 53 43 (f) 51 + 62

(c) 23 32 (g) 42 33

(d) 43 23 (h) 103 52

Which is larger? 33 or 44 4 Which is larger? 44 or 55 (b) (e) (h) (k) (n) (q) 32 + 42 = (3 + 4)2 (2 3)2 = 22 32 (5 2)2 = 52 22 (8 9)4 = 212 38 5n(5n 1) = 52n 5n 6n = 3n 2n (c) (f) (i) (l) (o) (r) 42 32 = (4 3)2 (32 4)2 = 34 42 (23)2 = (22)3 (4 27)3 = 26 39 9n = (3n)2 12n = 22n 3n

6. True or false? (a) 22 + 33 = (2 + 3)2 (d) 62 42 = (6 4)2 (g) (6 3)2 = 62 32 (j) (40)3 = (43)0 (m) 2n(2n + 1) = 4n + 2n (p) (4n)2 = 22n 7. Does (2m 3n)p = 2mp 3np?

KEY WORDS
percentage decrease annum change depreciation quantity composition simple marked conversion interest selling commission profit increase loss

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DIAGNOSTIC DIAGNOSTIC TEST TEST

Percentages, calculator and indices
1. Change these percentages to a fraction. (a) 25% (b) 60% 2. Change these percentages to a decimal. (a) 17% (b) 45% 3. Change to a percentage. (a) 67 (b) 9 (e) 0.85 4. Find: (a) 30% of 120 m
100

(c) 33 1 %
3

(d) 12 2 % (d) 126 1 %

4

2.01 2.01 2.01

(c) 62 2 % (c) 4 5 (g) 0.075

(f) 0.1 (b) 5% of 6 kg

10

(d) 8 2 3 (h) 4. 175 (c) 150% of 10 L

2.02 2.03

5. (a) 3 cm of string was cut from a 20 cm string. What percentage is this? (b) A fruit juice label indicated that the composition was made from 3 parts orange and 2 parts mango. Find the percentage composition of each. (c) Ordinary air contains 78% nitrogen, 21% oxygen and 1% other gases. What is the volume of each gas in a room of 500 m3? 6. (a) Increase $10 by 20% (c) Decrease $10 by 20% (e) Increase 2 kg by 150% (b) Increase 640 cm by 100% (d) Decrease $800 by 200% 1 (f) Decrease 4 km by 5 %
4

2.04

7. If 12% of a number is 60, what is the number? 8. Todays temperature was a 20% increase on yesterdays maximum temperature. If todays temperature is 30, what was yesterdays temperature? 9. Little Johnny came home and told his mother that he got 80 for his last assessment. But he failed to indicate that it was out of 120 and not 100! What was his true percentage? 10. Crazy Discounts was giving a 25% discount off a vacuum cleaner with a marked price of $240. How much did Mike pay for it? 11. A glassware importer imported some crystal cups for $60. He has to include a 15% GST surcharge on the cups. What is the retail price? 12. Maria bought a new computer for $2500. She sold her computer to a friend for $2000 after 2 years. What was the loss per cent on the cost price? 13. Estate agent Eric received a commission of 5% on the first $40 000 and then 2% on the remainder. What commission did he receive when he sold a property for $350 000? 14. Find the simple interest earned on (a) $600 invested at 8% for 5 years (b) $3450 at 6.5% for 18 months. 15. Use your calculator to find the answer correct to 2 d.p.

2.04 2.04 2.05 2.05 2.05 2.05 2.05 2.05 2.07

(a) 3.5 (46.5 29.6) (e) 35 (f)

16.9 3.4

(b) (g)

10.25 6.5 + 7.4 16.9 3.4

(c) (h)

18.5 6.8 4.7 + 5.6 1 2.52

(d) 4 256
2.08

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