Increase 120 By $4\%$.

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Understanding Percentage Increase

In mathematics, a percentage increase is a way to express a change in value as a proportion of the original value. It is calculated by multiplying the original value by the percentage increase, expressed as a decimal. In this article, we will explore how to increase 120 by $4\%$.

Calculating Percentage Increase

To calculate a percentage increase, we need to follow these steps:

1. Convert the percentage to a decimal by dividing by 100.
2. Multiply the original value by the decimal equivalent of the percentage increase.
3. Add the result to the original value to get the new value.

Applying the Formula

Let's apply the formula to increase 120 by $4\%$.

1. Convert $4\%$ to a decimal: $4\% = \frac{4}{100} = 0.04$
2. Multiply 120 by 0.04: $120 \times 0.04 = 4.8$
3. Add 4.8 to 120: $120 + 4.8 = 124.8$

Rounding the Result

In many real-world applications, we round the result to the nearest whole number or to a specific number of decimal places. In this case, we can round 124.8 to 125.

Conclusion

Increasing 120 by $4\%$ results in a new value of 125. This can be calculated using the formula for percentage increase, which involves converting the percentage to a decimal and multiplying the original value by the decimal equivalent of the percentage increase.

Real-World Applications

Percentage increase is a fundamental concept in mathematics that has numerous real-world applications. Here are a few examples:

• Finance: When a company's stock price increases by $10\%$, the value of an investor's shares also increases by $10\%$.
• Economics: A $5\%$ increase in the minimum wage can lead to a $5\%$ increase in the cost of living for low-income households.
• Science: A $20\%$ increase in the concentration of a chemical solution can lead to a significant change in its properties.

Common Mistakes

When calculating percentage increase, it's essential to avoid common mistakes such as:

• Rounding errors: Rounding the result to the wrong decimal place or to the wrong whole number can lead to significant errors.
• Incorrect conversion: Failing to convert the percentage to a decimal can result in incorrect calculations.
• Misunderstanding the formula: Not understanding the formula for percentage increase can lead to incorrect calculations.

Tips and Tricks

Here are some tips and tricks to help you calculate percentage increase accurately:

• Use a calculator: When working with large numbers or complex calculations, use a calculator to avoid errors.
• Check your work: Double-check your calculations to ensure accuracy.
• Use a formula: Use a formula to calculate percentage increase, rather than relying on mental math or estimation.

Conclusion

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Q: What is percentage increase?

A: Percentage increase is a way to express a change in value as a proportion of the original value. It is calculated by multiplying the original value by the percentage increase, expressed as a decimal.

Q: How do I calculate percentage increase?

A: To calculate percentage increase, follow these steps:

1. Convert the percentage to a decimal by dividing by 100.
2. Multiply the original value by the decimal equivalent of the percentage increase.
3. Add the result to the original value to get the new value.

Q: What is the formula for percentage increase?

A: The formula for percentage increase is:

New Value = Original Value + (Original Value x Percentage Increase)

Q: How do I convert a percentage to a decimal?

A: To convert a percentage to a decimal, divide the percentage by 100. For example, to convert 25% to a decimal, divide 25 by 100, which equals 0.25.

Q: What is the difference between percentage increase and percentage decrease?

A: Percentage increase is a way to express a change in value as a proportion of the original value, while percentage decrease is a way to express a reduction in value as a proportion of the original value. The formula for percentage decrease is:

New Value = Original Value - (Original Value x Percentage Decrease)

Q: Can I use a calculator to calculate percentage increase?

A: Yes, you can use a calculator to calculate percentage increase. Simply enter the original value, percentage increase, and calculate the new value.

Q: What are some common mistakes to avoid when calculating percentage increase?

A: Some common mistakes to avoid when calculating percentage increase include:

• Rounding errors
• Incorrect conversion of percentage to decimal
• Misunderstanding the formula
• Not checking work

Q: How do I apply percentage increase in real-world scenarios?

A: Percentage increase has numerous real-world applications, including:

• Finance: When a company's stock price increases by 10%, the value of an investor's shares also increases by 10%.
• Economics: A 5% increase in the minimum wage can lead to a 5% increase in the cost of living for low-income households.
• Science: A 20% increase in the concentration of a chemical solution can lead to a significant change in its properties.

Q: Can I use percentage increase to calculate compound interest?

A: Yes, you can use percentage increase to calculate compound interest. Compound interest is the interest earned on both the principal amount and any accrued interest over time.

Q: What is the difference between percentage increase and percentage change?

A: Percentage increase and percentage change are often used interchangeably, but they have slightly different meanings. Percentage increase refers to a change in value as a proportion of the original value, while percentage change refers to a change in value as a proportion of the new value.

Q: Can I use percentage increase to calculate inflation?

A: Yes, you can use percentage increase to calculate inflation. Inflation is a sustained increase in the general price level of goods and services in an economy over time.

Conclusion

In conclusion, percentage increase is a fundamental concept in mathematics that has numerous real-world applications. By understanding the formula and avoiding common mistakes, you can calculate percentage increase accurately and apply it to real-world scenarios.