Applications of percents

In this section, we solve word problems that require us to apply what we learned in previous sections on representing percents and converting among fractions, decimals, and percents. Also, we apply what we learned about multiplying decimal numbers to calculate discounts on items. In addition, we apply the knowledge of dividing decimal numbers to calculate percentages from given fractions. When calculating percentages, we use loading-strip models from a previous section. Finally, we complete problems on simple and compound interest. When you borrow money from the bank, you have to pay to use this money. This payment is called interest.