Question

A shop worth Rs 25,000 insured 95% of its value. How much does the owner get in case of any mishappening?

Answer 1

Hint: The percentage is one-hundredth of any whole number or any fraction.
To convert the percentage of a number, we just need to use the formula such as:
Q% of Number = Y
Q is the percentage number.
If we remove the percentage symbol %, then we need to use the above formula that is;
$\Rightarrow \dfrac{P}{100}\times Number=Y$
For example: - to find the 60% of 55 we can rewrite 60% as $\dfrac{60}{100}$and now we will multiply it with the number 55.
$\Rightarrow 55\times \dfrac{60}{100}$
$\Rightarrow \dfrac{3300}{100}$
$\Rightarrow 33$
Hence we can say that 60% of 55 is 33.
The percentage is widely used in many areas like in the discount shop, in the bank, calculating interest, and in statistics.

Complete step by step solution:
The total amount of shop $=25,000$
The shop is insured with 95% of its value
Thus we can rewrite 95% in the fraction form as $\dfrac{95}{100}$. Here in the fraction the denominator 100 represents %.
The total amount that is insured$=$total amount of shop $\times $95%
$\Rightarrow 25,000\times 95%$
$\Rightarrow 25,000\times \dfrac{95}{100}$
$\Rightarrow 250\times 95$
$\Rightarrow 23,750$

Hence the owner will get Rs 23,750 in case of mishappening.

Note:
The percentage is just a ratio that can be expressed in the term the fraction of 100.
To convert or find out the percentage or any number just multiply and divide that number(it may be decimal or fraction or whole number) by 100.
The term one-hundredth ${{\left( \dfrac{1}{100} \right)}^{th}}$part of that number and it’s represented by the symbol %.