Learning Objectives:

__Math Tutoring on Percent Applications__

**Percentages** are an unavoidable part of our day-to-day life. Some of the important applications are as follows:

**1. ****Percentages**** **are hugely used in money related problems in our daily life. **Discounts**** **of any kinds are mostly expressed in **Percent**.

**2. ****Increase or decrease** in **Profit Margin** is usually expressed in **Percent**.

**3. ****Percentages** are very useful in expressing **Fractions**. They can be compared more easily than **Fractions**.

**4. ****Percentages** are very useful for the declaration of **Commission for Sales Personnel.**

**5. ****Appreciation of Articles** (such as jewellery) and **Depreciation**** ****of Items** (such as Machinery & Equipment) are generally expressed in terms of **Percentage**.

**6. **One of the important applications of **Percentage** is **Expressing Simple Interest****.** Interest represents a change in money. If we have a Saving Account, the Interest will increase our balance based upon the interest rate paid by the bank. If we have a loan, the interest will increase the amount we owe based upon the interest rate set by the bank.

*Simple Interest Formula:*

** ****, where I=interest, P=Principal, r=Rate as a decimal & t=time in years.**

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**Hook Questions:**

*1. **Mention some important Applications of Percentages.*

*2. **State Simple Interest Formula.*

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