General Mathematics 11: Percentage Application

Flashcards covering real-life percentage applications including increase/decrease, inflation, markup/discount, VAT, and profit/loss calculations.

How is a percentage defined according to the lecture?

A percentage of a number is a part of the number given in hundredths.

What is the general formula to find the percentage of a number?

$P = B \times R$ where (P) is the Percentage, (B) is the Base, and (R) is the Rate expressed as a decimal.

In the percentage formula, what does the term 'Base' represent?

The principal amount, the $100\%$ of a number, and the number from which the percent is taken (often following the word 'of').

What is the formula for calculating Percentage Increase?

$\text{Percentage Increase} = \frac{\text{IV} - \text{OV}}{\text{OV}} \times 100$ where (IV) is the Increased Value and (OV) is the Original Value.

What is the formula for calculating Percentage Decrease?

$\text{Percentage Decrease} = \frac{\text{OV} - \text{DV}}{\text{OV}} \times 100$ where (OV) is the Original Value and (DV) is the Decreased Value.

How does the lecture define the impact of inflation on prices and purchasing power?

Inflation increases the cost of goods over time, which reduces purchasing power.

What is the formula for the Inflation Rate (IR)?

$\text{IR} = \frac{\text{PI}}{\text{OP}} \times 100$ where (PI) is the Price Increase and (OP) is the Original Price.

According to the transcript, what is the selling price formula involving mark-up?

$\text{SP} = \text{Cost} \times (1 + \text{\%Mark-up})$ after converting the mark-up into decimal format.

What is the formula to determine the Discounted Price of an item?

$$\text{Discounted Price} = \text{Original Price} \times (1 - \text{\%Discount})$$

What is the current Value Added Tax (VAT) rate in the Philippines mentioned in the notes?

$12\%$ ($0.12$)

What are the two formulas used to calculate the Total Price including Value Added Tax (VAT)?

$\text{VAT} = \text{Selling Price} \times 0.12$ and $\text{Total Price} = \text{SP} + \text{VAT}$

How is absolute profit calculated?

$\text{Profit} = \text{SP} - \text{CP}$ where (SP) is Selling Price and (CP) is Cost Price.

What is the formula for Profit in percentage terms?

$$\text{Profit \%} = (\text{Profit} \div \text{Cost Price}) \times 100$$

If a phone costs $\text{₱12,000}$ but is sold for $\text{₱11,000}$, how is the loss percentage calculated?

$\text{Loss \%} = (\text{Loss} \div \text{CP}) \times 100$ resulting in approximately $8.33\% \text{ loss}$.

According to Scenario 1, if a snack's price rises from $\text{₱15.00}$ to $\text{₱20.00}$, what is the percentage increase?

$$33.33\%$$