What is 15% of $86? A Simple Guide to Percentage Calculations
Percentages are a fundamental part of everyday life, appearing in everything from sales tax calculations to interest rates on loans and discounts at your favorite store. Understanding how to calculate percentages is crucial for making informed financial decisions. This article will break down how to determine 15% of $86, explaining the process step-by-step and providing you with the tools to calculate other percentages independently.
1. Understanding Percentages
A percentage is simply a fraction expressed as a part of 100. The symbol "%" represents "per hundred" or "out of 100". For example, 15% means 15 out of 100, which can also be written as the fraction 15/100 or the decimal 0.15. To find a percentage of a number, we essentially find that fractional part of the number.
2. Method 1: Using Decimal Conversion
This method involves converting the percentage to its decimal equivalent and then multiplying it by the given number.
Step 1: Convert the percentage to a decimal: Divide the percentage by 100. In this case, 15% becomes 15 รท 100 = 0.15.
Step 2: Multiply the decimal by the given number: Multiply the decimal (0.15) by the number we want to find the percentage of ($86). This gives us 0.15 x $86 = $12.90.
Therefore, 15% of $86 is $12.90.
Example: Imagine a store offers a 15% discount on a $86 item. Using this method, you'd calculate the discount as $12.90, meaning the final price you'd pay is $86 - $12.90 = $73.10.
3. Method 2: Using Fraction Conversion
This method uses the fractional representation of the percentage.
Step 1: Convert the percentage to a fraction: 15% can be written as the fraction 15/100.
Step 2: Simplify the fraction (optional): The fraction 15/100 can be simplified to 3/20 by dividing both the numerator and denominator by 5.
Step 3: Multiply the fraction by the given number: Multiply the simplified fraction (3/20) by $86. This gives us (3/20) x $86 = (3 x $86) / 20 = $258 / 20 = $12.90.
This method arrives at the same answer: 15% of $86 is $12.90.
Example: If you earn 15% commission on a $86 sale, your commission would be $12.90.
4. Using a Calculator
Most calculators have a percentage function (%) that simplifies the process. Simply enter 86 x 15 %, and the calculator will directly give you the answer: $12.90. This is the most convenient method for quick calculations.
Actionable Takeaways
Converting percentages to decimals or fractions is key to understanding and calculating percentages effectively.
Both the decimal and fraction methods provide accurate results. Choose the method you find more intuitive.
Calculators offer a fast and efficient way to calculate percentages.
Practicing these methods with different examples will improve your understanding and speed.
Frequently Asked Questions (FAQs)
1. How do I calculate a different percentage of $86? Replace 15% with your desired percentage in either method described above. For example, to find 20% of $86, you would calculate 0.20 x $86 or (20/100) x $86.
2. What if the percentage is not a whole number (e.g., 15.5%)? Use the same methods; simply convert 15.5% to its decimal equivalent (0.155) or fraction (155/1000) and proceed with the calculation.
3. Can I calculate percentages of larger or smaller numbers? Yes, these methods work for any number. Simply replace $86 with the desired number.
4. Why is understanding percentages important? Percentages are essential for understanding discounts, sales tax, interest rates, tips, and many other aspects of personal finance and everyday life.
5. Are there any online calculators for percentage calculations? Yes, numerous online percentage calculators are readily available with a simple web search. These can be helpful for quick calculations and verification.
Note: Conversion is based on the latest values and formulas.
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