FutureStarr

12 14 Percentage ORR

## 12 14 Percentage

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In 2014, global enterprises invested $138 billion in IT. That figure is expected to reach$962 billion by 2020. But regardless of how much companies are investing, their spending is becoming more predictable over time. Let’s look at how much the global B2B IT spending market is predicted to change over the next 5 years

### Percentage

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The percentage increase calculator is a useful tool if you need to calculate the increase from one value to another in terms of a percentage of the original amount. Before using this calculator, it may be beneficial for you to understand how to calculate percent increase by using the percent increase formula. The upcoming sections will explain these concepts in further detail.Although we have just covered how to calculate percent increase and percent decrease, sometimes we just are interested in the change in percent, regardless if it is an increase or a decrease. If that is the case, you can use the percent change calculator or the percentage difference calculator. A situation in which this may be useful would be an opinion poll to see if the percentage of people who favor a particular political candidate differs from 50 percent.

Percentage increase is useful when you want to analyse how a value has changed with time. Although percentage increase is very similar to absolute increase, the former is more useful when comparing multiple data sets. For example, a change from 1 to 51 and from 50 to 100 both have an absolute change of 50, but the percentage increase for the first is 5000%, while for the second it is 100%, so the first change grew a lot more. This is why percentage increase is the most common way of measuring growth.One area that often catches people out is year-on-year percentage increases. For example, Freya has £10 and each year this increases by 5%. How much will she have after 3 years? Some people can be tempted to add together the 5% for the 3 years i.e. 15% and multiply the £10 by 15% giving £11.5. This is incorrect. The correct way of approaching questions like this is to remember that EACH year the initial £10 increased by 5%. So at the end of year 1, Freya would have £10 x 1.05 = £10.5. At the end of year 2, she would have £10.5 x 1.05 = 11.025, and so on. It is important to add in each of these steps to arrive at the correct answer. Another common error is around percentage increases. For example, the price of a loaf of bread increases by 10%. After the increase the price was £1.10, how much did the bread cost before the increase. A really common error is for people to try and solve this type of question by calculating: £1.10 x 0.9 = £0.99. This is incorrect. Remember, that £1.10 = 110%, therefore you must use this calculation: (£1.10/110) x 100 = £1.00 (Source: www.wikijob.co.uk)

### Step

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One area that often catches people out is year-on-year percentage increases. For example, Freya has £10 and each year this increases by 5%. How much will she have after 3 years? Some people can be tempted to add together the 5% for the 3 years i.e. 15% and multiply the £10 by 15% giving £11.5. This is incorrect. The correct way of approaching questions like this is to remember that EACH year the initial £10 increased by 5%. So at the end of year 1, Freya would have £10 x 1.05 = £10.5. At the end of year 2, she would have £10.5 x 1.05 = 11.025, and so on. It is important to add in each of these steps to arrive at the correct answer.

I've seen a lot of students get confused whenever a question comes up about converting a fraction to a percentage, but if you follow the steps laid out here it should be simple. That said, you may still need a calculator for more complicated fractions (and you can always use our calculator in the form below).Step 2: We write $$\frac{0.45}{1}$$ as an equivalent fraction over $$100$$. To do this we multiply the numerator and the denominator by $$100$$: $\frac{0.45}{1} = \frac{0.45 \times 100}{1\times 100} = \frac{45}{100}$ Finally, since $$\frac{45}{100} = 45\%$$ we can state that $$18$$ is $$45\%$$ of $$40$$. (Source: www.radfordmathematics.com)

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