This percent calculator estimates how much a percentage applied to a value represents, so you will get the absolute value that results after applying the percent to a given number.
How to apply a percent to an absolute value?
Assuming a retailer offers a discount of 10% for an item at sale with an initial price of $120 let’s figure out with this percent calculator how much does that means, and then explain the formula and the calculation by hand.
Initial price (IP) = $120
Discount rate (DR) = 10% or in decimal format 10/100 = 0.1
Discount in absolute value (DAV) = 10% * 120 = 0.1 * 120 = $12
Final price paid (FP) = $120 - $12 = $108
Considering the example given above the formulas for such a calculation are:
- Estimate the absolute value of how much a percent is out of a specific number DAV = DR% * IP or DR * IP * 0.01
- Determine the number after the value of the percentage applied is taken off FP = IP - DAV
Such percent calculations are often made:
- At shopping when trying to figure out an effective selling price;
- When comparing two or more offers from banks either related to loans or savings;
- When trying to determine the figure with costs and fees you will have on a bank transaction;
- When studying different social aspects.