Hey everyone! We are Senior Advertising arts students from University of Santo Tomas taking up Business Math as one of our course this semester. Since the semester is almost done we are very grateful to get this chance to show to the world how Business Math made us better in terms of our professional life after college. Yes, this blog is about how we survived a semester of challenges and learning, but this is also our way of sharing what Business Math in our perspective, specifically Percentage on business.
To start off, we would like to introduce ourselves first.
We are actually a circle of friends from our class, we all share the same experiences with this course and luckily we can share those learning to people who will read this.
We are composed of 6 people, 6 ideas, 6 experiences and 1 mindset.
We want to focus on the percentage in business since it is an important part of the business whatever category it might be.
Tony
Mathematics is an important subject and knowledge of it enhances a person's reasoning, problem-solving skills, and in general, the ability to think. That’s why in this whole semester in Business Math, as an advertising student we learned how sales works out. It learnings includes percentage, which I helps me in real life. For example, when going to shopping, seeing “50% off” . Knowing how to calculate percentages will allow you to determine the price of these items on sale.
Percentage can be use on different aspects of our lives. Just like in Marketing goods, buying and selling. Which the amount will be expressed percentage. Many things in business are expressed as a percentage. Increase in profit from year to year. Decrease or increase in expenses. Interest on loans and also commission on sales.
Nikki
Business Math is an important course especially for aspiring Entrepreneurs. They can use the techniques and formulas and solutions if ever they would be encountering problems in their businesses. The knowledge of Bank reconciliation, is also an important factor in being a business owner. Also, it doesn't hurt to go back in learning the basic Mathematics of everything, from addition to fractions and percentage.
It won't be long before we, senior college students, would start to live on the real world, where we would earn our own money, pay our own bills and dues, or even start our own business. Business Math has helped me to realize that money is very important, and it shouldn't be taken for granted. Who knows, if we make more money than we thought by our careers or businesses? The only way to have the knowledge in managing it is by knowing Business Math, because it has all the money-managing solutions, covered.
Percentage in business is very tricky. I, honestly admit, that learning it needs full concentration - but it really can help you, especially if you want to make certain discounts on your products, you'll know how much percent is more convenient for you and your business.
The importance of percentage in business is that it's useful in increasing or decreasing prices efficiently and collectively rather than slashing the price tags of every item/ available service in your business. You can just collectively declare a specific percentage of discount which is visually more appealing to customers and it's easier for the business owner to compute the increase or decrease because although decimals and percentages are the same technically, percentages are more presentable in prices and sales discounts.
In advertising, business math is very important. You use this to compute and estimate the budget you will use when creating ads. So what would happen if you don’t know…Disaster. Not only it will affect you but also the client’s money and it is within your hand that the campaign’s success will push. Computing for the discounts, percentage and other things is a must for an advertiser.
An example would be Percentage in Business, so what’s the importance of it in advertising? Percentage gives us a lot like the percent of how many agrees with this or how many say “no” to this. In business it talks about how many or the number of items, the percent of the stocks and etc. Let’s say in business if we make a 50 red boards and 50 green boards for the Christmas sale poster we both have each ½ different boards. For advertising, we estimate the color, the percent of how big the layout and also the percentage of how much will it coast we make it that way.
Arielle
As college students grows ever closer to the world adults, it is crucial for them to know the basics of finance. This is important since as adults they are tasked to provide for their families and not knowing how the world of money works they may end up losing profits instead of earning them. Business Math covers a wide scope of topics that adults will eventually face in the real world. Knowing how checks work and computing your payroll may mean the difference between profit and loss.
Though Business Math uses basic Mathematics it requires a lot of critical thinking to find out answers to problems that may look simple but is actually really complex. For people who’re aiming towards being an entrepreneur it is vital to know this subject since it deals with the finance side of businesses. Still even if entrepreneurship isn’t the goal for others it’s still important to know how to whether you’re being ripped off or not.
Percentage is one of the backbones of business. Learning rates for businesses or services is something people should all know how to compute since, again, people don’t want something that isn’t worth their hard-earned money. Though it can be a bit confusing, but what branch of Mathematics isn’t? Careful analysis of the situations and using the right formula and operations is key to a good business.
Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.
It is clear to everyone that bankers crunch numbers on a daily basis. However, one also comes upon mathematics everywhere where the future developments and trends are to be determined.
Business mathematics is all about how the problems from the realm of business and technology can be translated into the language of mathematics and then be solved by means of mathematical models. Quite often this involves more than one mathematical model - what makes the matter even more exciting!
By occupying yourself with business mathematics, you will learn how to think out of the box, sharpen your ability to think in abstract terms, and train yourself how to more precisely formulate and structure causal relationships
Hannah
I've never
enjoyed Math this much! Maybe because the topics are already applicable to real
life. Since I'm also working and studying at the same time that's why Business
math is very interesting on my part. The semester is almost done and I can now
reminisce and refresh my mind about everything we had with this course. I
learned a lot about real life application of mathematics in business may it be
to a company or entrepreneurial business.
Percentage
in business is very important since it tackles various data that explains
number in a smaller scale. With the help of percentage, numbers are shown in an
easier way for comprehension and comparison of parts. Percentage can used
anywhere that is why it is very important to realize how this can help us with
our work. Like me, I’m studying and working at the same time, I appreciated the
need to know how percentage is used daily. For example, we use percentages to
show difference of data from past data. Also, it shows progression of numbers
and with that I can totally understand it because we apply it every day with work
and school.
Samples of Percentage word problems in business:
24 officers on board are needed to attend the
meeting. 18 of them attended, what percent those who did not attend the
meeting?
Number of
officers who did not attend the meeting 24 − 18 = 6
x% of 24 = 6
or x% times 24 = 6
To get x%,
just divide 6 by 24
6/24 = 0.25
= 25/100 = 25%
Therefore,
25% of officers did not attend the meeting
Erika has a monthly salary from her agency of
$1200. She spends $280 per month on food and commute. What percent of her
monthly salary does she spend on food and commute?
x= part /
whole = 280 / 1200 = 0.23
Multiply and
divide 0.23 by 100 to convert in percent
percent =
0.23 * 100 / 100 = 23 / 100 = 23% is the percent she spend on food and commute
Jessy had $ 2100 left after spending 30 % of
the money from his monthly salary he took for daily expenses How much money did
he take along with him?
:
Money she
spent = 30 % of m
= 30/100 × m
= 3/10 m
Money left
with him = m – 3/10 m = (10m – 3m)/10 = 7m/10
But money
left with him = $ 2100
Therefore
7m/10 = $ 2100
x = $ 2100×
10/7
x = $
21000/7
x = $ 3000
Therefore,
the money she took for her daily expenses is $ 3000.
The price of a condo changed from $120 to
$100. Then later the price decreased again from $100 to $80. Which of the two
decreases was larger in percentage term?
part / whole
= (120 - 100) / 120 = 0.17 = 17%
Second
decrease in percent
part / whole
= (100 - 80) / 100 = 0.20 = 20%
Gillian has a monthly business budget of
$1200. She spends $280 per month for the rent of her fashion boutique. What
percent of her monthly business budget does she spends for her boutique space?
percent=0.23
x 100/100=23/100=23%
Jinee is a retailer and is having a pre-Christmas
sale. If the price of a pair of trousers was decreased by 22% to $30, what was
the original price of the trousers?
x-y=30
y=22% of x=
(22/100) * x=0.22 x
x-0.22 x=30
0.78 x=30
x=$38.50
Troy is resell shirts online. If the original
price of the shirt was $20 and was decreased to $15, what is the percent
decrease of the shirt?
20-15=$15
percent
decrease=5/20=0.25
percent
decrease=0.25 =0.25*100/100=25/100=25%
Mr. Sho bought a new calculator in Los
Angeles for his baking business and it was priced at $6.95 and the total bill
was $7.61. What is the sales tax rate in this city?
7.61-6.95=0.66
0.66=x *6.95
0.66/6.95=x=0.094964028...%
the sales
tax is 9.5%
A computer reseller used a markup rate of
40%. Find the selling price of it that
cost the reseller $25.
The markup
is 40% of the $25.
0.40*25=10
25+10=35
the item was
sold for $35
Hopefully you had a peek of what percentage is in business. Until next time! and don't forget to appreciate your math class!
