Question

The Titanic Toy Company has a \[4\% \]return rate on its products. How do you write this percent as a fraction in simplest form?

Answer 1

Hint:We can solve this question using a simple statement which is:
Percent as a decimal= Percent divided by 100. So by using some basic properties and by converting $4\% $ in accordance with the above stated equation and by applying it in the given question we can write $4\% $ as a fraction in simplest form.

Complete step by step solution:
Given statement
$4\% {\text{return rate on its products}}.........................................\left( i \right)$
So our aim is to write $4\% $ as a fraction in simplest form.
Now by using the property:
Percent as fraction= Percent divided by 100, we can write $4\% $as follows;
$4\% = \dfrac{4}{{100}}.....................................\left( {ii} \right)$
Such that by simple simplification of (ii) we can represent$4\% $ as a fraction in simplest form.
So on simplifying (ii) we can write:
$
4\% = \dfrac{4}{{100}} \\
= \dfrac{{4 \times 1}}{{4 \times 25}} \\
= \dfrac{1}{{25}}..................................\left( {iii} \right) \\
$
Therefore \[4\% \]return rate on its products as a fraction in simplest form can be written as:
$\dfrac{1}{{25}}$
Additional Information:
Considering the possibility of converting percentages to fractions and fractions to percentages it’s observed that the conversion process is much easier and accurate while converting percentages to fractions rather than fractions to percentages since many times the fractions do not have exact decimal.

Note: The literal meaning of the word ‘percent’ is out of 100.
Basis point is a term used in the financial markets. It simply means one hundredth of a percentage point. Similarly percentile is a term which is used to describe the cumulative percentage and has a wider application in the field of statistics. Percentages were introduced for making the calculation much easier and understandable.