24 Is What Percent Of 120

24 is What Percent of 120? A Simple Percentage Calculation Explained

Finding out what percentage 24 represents of 120 is a fundamental percentage problem encountered in various fields, from everyday budgeting to complex statistical analysis. This article will guide you through the calculation, provide different approaches, and highlight practical applications. Understanding this concept is crucial for anyone aiming to improve their numeracy skills and data interpretation abilities.

Understanding the Basics of Percentages

A percentage is a fraction or ratio expressed as a number out of 100. It represents a portion of a whole. The symbol "%" denotes percentage. For example, 50% means 50 out of 100, or one-half.

Method 1: Using the Percentage Formula

The most straightforward method to solve "24 is what percent of 120?" involves using the basic percentage formula:

(Part / Whole) x 100% = Percentage

In this case:

• Part: 24
• Whole: 120

Substituting these values into the formula:

(24 / 120) x 100% = 20%

Therefore, 24 is 20% of 120.

Method 2: Simplifying the Fraction

We can simplify the fraction before multiplying by 100%. This method is often quicker and easier to manage, especially with larger numbers.

First, we express the problem as a fraction: 24/120

We then simplify the fraction by dividing both the numerator and the denominator by their greatest common divisor (GCD), which is 24 in this case:

24/24 = 1 120/24 = 5

This simplifies the fraction to 1/5. To convert this fraction to a percentage, we multiply by 100%:

(1/5) x 100% = 20%

Again, we find that 24 is 20% of 120.

Method 3: Using Proportions

Proportions offer another way to solve percentage problems. We can set up a proportion:

24/120 = x/100

Where 'x' represents the unknown percentage. To solve for 'x', we cross-multiply:

120x = 2400

x = 2400 / 120

x = 20

Therefore, x = 20%, confirming that 24 is 20% of 120.

Practical Applications of Percentage Calculations

Understanding percentage calculations is essential in many real-world scenarios, including:

• Finance: Calculating interest rates, discounts, taxes, and profit margins.
• Retail: Determining markups, sales percentages, and customer discounts.
• Statistics: Analyzing data, interpreting survey results, and calculating probabilities.
• Science: Representing experimental results and calculating proportions in various scientific fields.

By mastering these basic percentage calculations, you'll be better equipped to handle numerical challenges in various aspects of life. The methods outlined above provide a comprehensive understanding of how to solve these problems accurately and efficiently. Remember to always double-check your work!