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Percentages and business data
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Business papers are full of numbers: sales figures, market share, price rises. Percentages let you compare them fairly.
Finding a percentage
Percentage = part ÷ whole × 100
If a firm sells £7 500 of a £50 000 market, its market share = 7500 ÷ 50000 × 100 = 15%.
To find a percentage of an amount, multiply: 20% of £350 = 0.2 × 350 = £70.
If a firm sells £7 500 of a £50 000 market, its market share = 7500 ÷ 50000 × 100 = 15%.
To find a percentage of an amount, multiply: 20% of £350 = 0.2 × 350 = £70.
Percentage change
Percentage change = (new − old) ÷ old × 100
A positive answer is an increase; a negative answer is a decrease.
A positive answer is an increase; a negative answer is a decrease.
Using data in answers
When a question gives you data, use it: quote the figures and work out changes.
Say what the change means for the business, for example 'sales fell by 10% in March, so the business has less revenue to pay its costs'.
Say what the change means for the business, for example 'sales fell by 10% in March, so the business has less revenue to pay its costs'.
A gym had 800 members last year and 920 this year. What is the percentage change?
- Change = 920 − 800 = 120
- ÷ old: 120 ÷ 800 = 0.15
- × 100 = 15%
Answer: An increase of 15%
Percentage = part ÷ whole × 100. Percentage change = (new − old) ÷ old × 100. Always divide by the old figure. Use the data in your answers and say what it means for the business.
The interactive lesson includes the diagrams for this topic.
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