Percentage/

In this chapter, you will learn:

• The Meaning of "Percentage"
• Need of percentage in day to day life
• Know the symbol of percentage and its use
• Solve practical problems of percentages involving commission, discounts, sales tax and octroi

Percent :The score obtained on the basis of a total of 100 is called "percent" and is denoted by the symbol%

Thepercent formof the fraction form =Fraction<img border="0" src="http://www.hitarthindia.com/images/symbols/326.gif" /> 100

Uses of Percent

• Proportion in business:Investment and Profits in business are expressed as percentages
• Commission in sales:The amount charged by the agent on selling price or sales volume is called commission on sales
• Sales Discounts:Lowering in sales price to increase the sales volume is called Sales Discount
• Sales Tax:State Government charges a tax on the sales of certain items called Sales Tax
• Octroi:The tax imposed by local authorities (Municipal Corporation, Gram Panchayat) on import of goods in their limits is called Octroi.
• Brokerage:Similar to Commission, the amount charged by the agent on selling price or sales volume is called commission on sales.
• Entertainment Tax:Tax levied by Government for entertainment of movies.
• Customs Duty:Duty imposed by Central Government for import of goods in India.