Discuss three examples of percent used in real life. Write a brief summary of how percent is used and find any missing elements such as the percent, the part or the whole in the example.

Answer 1

Example 1: Sales Discount
In retail, sales discounts are a common way to attract customers. For instance, a store may offer a 20% discount on all clothing items. In this case, the percent (20%) represents the amount being taken off the original price and is considered the part. The whole refers to the original price of the clothing item before the discount, while the missing element is the actual dollar amount saved by the customer.

Example 2: Grade Calculation
In education, percentages are frequently used to calculate grades. Let's say a student achieved a score of 85% on a test. Here, the percent (85%) represents the proportion of correct answers out of the total possible points, which is commonly known as the part. The whole refers to the maximum number of points that could have been earned on the test, while the missing element is the actual score in terms of points obtained by the student.

Example 3: Interest Rates
When borrowing or investing money, interest rates are crucial to consider. Suppose an individual wants to take out a loan with an annual interest rate of 6%. Here, the percent (6%) represents the proportion of interest charged on the original loan amount, indicating the part. The whole in this example is the total loan amount borrowed, while the missing element is the actual dollar amount of interest paid annually.