what is 2 percent of 50

less than a minute read 18-10-2024

What is 2 Percent of 50? A Simple Guide to Percentages

Percentages are a common concept used in everyday life, from sales discounts to calculating interest rates. Understanding how to calculate percentages is essential for making informed financial decisions.

Let's break down how to find 2 percent of 50, and explore the broader concept of percentages in a practical way.

Understanding Percentages

A percentage represents a part of a whole, expressed as a fraction of 100. The symbol "%" is used to denote percentage. So, 2% means 2 out of every 100.

Calculating 2 Percent of 50

1. Convert the percentage to a decimal: To convert a percentage to a decimal, divide the percentage by 100.
Therefore, 2% is equivalent to 2/100 = 0.02

2. Multiply the decimal by the whole number: Multiply the decimal value (0.02) by the whole number (50). 0.02 * 50 = 1

Therefore, 2 percent of 50 is 1.

Applying Percentages in Real Life

Understanding percentages is crucial in many real-life scenarios:

Shopping: Calculating discounts on sales items.
Finance: Understanding interest rates on loans and investments.
Statistics: Analyzing data and interpreting survey results.

Example:

Imagine you're buying a shirt on sale for 20% off its original price of $50.

Calculate the discount: 20% of $50 = (20/100) * $50 = $10
Calculate the final price: Original price - discount = $50 - $10 = $40

You would pay $40 for the shirt after the discount.

Key Takeaways

Percentages represent parts of a whole.
To calculate a percentage of a number, convert the percentage to a decimal and multiply by the whole number.
Percentages are widely used in everyday life, making it essential to understand how to calculate and apply them.

Note: This article draws upon general knowledge and concepts related to percentages. For more complex calculations or specific applications, refer to relevant mathematical resources.

what is 2 percent of 50