Percent Change Word Problems Worksheet: Boost Your Skills!
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Percent change word problems are a vital concept in mathematics, often encountered in various real-world situations, from finance to science. Understanding how to calculate percent changes can help you make informed decisions, whether it's adjusting a budget, analyzing data trends, or even shopping for the best deals. In this article, we'll explore what percent change is, how to solve percent change word problems, and provide a worksheet to practice your skills. Let’s boost your skills! 📈
What is Percent Change?
Percent change is a way to express the difference between an old value and a new value as a percentage of the old value. It can indicate an increase or decrease in quantities.
The formula for calculating percent change is:
Percent Change = ((New Value - Old Value) / Old Value) x 100
Examples of Percent Change
-
Increase: If the price of a shirt increases from $20 to $25, the percent change is:
- Old Value = 20
- New Value = 25
- Percent Change = ((25 - 20) / 20) x 100 = 25%
-
Decrease: If the price of a laptop drops from $800 to $600, the percent change is:
- Old Value = 800
- New Value = 600
- Percent Change = ((600 - 800) / 800) x 100 = -25%
This approach allows you to quantify changes easily and can be applied to various scenarios.
Solving Percent Change Word Problems
When faced with percent change word problems, you can follow these steps:
- Identify the Old Value and New Value: Read the problem carefully to extract the old and new values.
- Apply the Percent Change Formula: Insert the values into the formula.
- Interpret the Results: A positive result indicates an increase, while a negative result indicates a decrease.
Example Problems
Let's take a look at a few word problems to illustrate how to solve them.
Problem 1: The population of a town increased from 10,000 to 12,000 in one year. What is the percent increase in population?
- Solution:
- Old Value = 10,000
- New Value = 12,000
- Percent Change = ((12,000 - 10,000) / 10,000) x 100 = 20%
Problem 2: A book originally priced at $40 is now on sale for $30. What is the percent decrease in the price?
- Solution:
- Old Value = 40
- New Value = 30
- Percent Change = ((30 - 40) / 40) x 100 = -25%
Practice Problems
Now that we've established how to calculate percent change, it's time to practice! Here are some word problems for you to solve.
Practice Worksheet: Percent Change Word Problems
| Problem Number | Problem Statement |
|---|---|
| 1 | A car's value decreased from $25,000 to $18,000. What is the percent decrease? |
| 2 | The number of students in a school increased from 300 to 360. Calculate the percent increase. |
| 3 | A stock's price dropped from $50 to $30. What is the percent decrease? |
| 4 | A product's price increased from $15 to $18. What is the percent increase? |
| 5 | A city's population was 200,000 and grew to 210,000. What is the percent increase? |
Important Notes to Remember
"Practice makes perfect! The more you practice these problems, the more confident you will become in your ability to solve percent change problems."
Answers to Practice Problems
Once you finish the problems, check your answers below:
| Problem Number | Answer |
|---|---|
| 1 | -28% |
| 2 | 20% |
| 3 | -40% |
| 4 | 20% |
| 5 | 5% |
Real-World Applications of Percent Change
Percent change is not just an academic exercise. It has practical applications in everyday life:
- Shopping: Understanding sales and discounts. For example, if an item is marked down from $100 to $75, you can determine the discount percentage to see how much you save.
- Finance: Assessing investment growth. If you bought shares of a company for $50, and they are now worth $75, calculating the percent change helps you evaluate your investment's performance.
- Health and Fitness: Tracking weight loss or gain over time. For example, if someone weighs 180 pounds and loses 15 pounds, the percent change can be calculated to measure success.
Conclusion
Percent change word problems are essential for understanding how values change over time, whether it be in business, finance, health, or even shopping. By mastering the concept and practicing through worksheets, you’ll not only improve your mathematical skills but also enhance your ability to make informed decisions based on data. Keep practicing, and soon you'll be a pro at solving percent change problems! 🚀