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P2P loans have seen a surge of popularity over recent years. As they have, they have helped a huge number of people have access to capital. This might sound like a healthy market, but not everyone is happy about the current state of things.
Percentages are found in many contexts beyond practice problems in math textbooks. One of the best examples is sale prices, which are often advertised as a particular percentage off of a price. Tips on a restaurant bill are also usually calculated as a percentage of the total bill. Knowing how to calculate percentages is a useful skill; sometimes you'll need to know the exact percent of a number, while others only require an estimate. You can perform these calculations in your head or by using a calculator.
You can repeat these steps with multiple calculations for problems that have percentages that are not simple fractions. For example, when calculating the tip on a bill at a restaurant, you may be trying to find 15 percent of $27. Rather than converting 15 percent to 15/100 or 3/20, you can think of it as 10/100 or 1/10 and then add half of that, because it is much easier to find 1/10 than 3/20. So you would calculate 1/10 of $27, which is $2.70, plus half of that, or $1.35, to get a tip of $3.05. (Source: pocketsense.com)
To calculate percentages, start by writing the number you want to turn into a percentage over the total value so you end up with a fraction. Then, turn the fraction into a decimal by dividing the top number by the bottom number. Finally, multiply the decimal by 100 to find the percentage.
ðŸ™‹ We use percentages in almost all aspects of our life, not just finance. For example, we can also use percent to express the relative error between the observed and true values in any measurement. To learn how to do that, check our percent error calculator. (Source: www.omnicalculator.com)