In How Many Fields Percentage Is Used
In this article we are going to discuss that in how many fields percentage is used. Before discussing it, let’s have an overview of percentage. Percentage is basically a rate which we calculate on any kind of monetary worth; it could be the price of goods, income of company or any other variable expense for the production purposes. Percentage is being used in so many fields that it has become the fifth most important mathematical operation after four arithmetic operations including addition of figures, subtraction of figures, multiplication of figures and division of figures.
Now let’s discuss that in how many fields percentage is used:
- Percentage has become the part of our economical and financial system.
- Income tax is charged in form of specific rate imposed on various levels of income to Joint Stock Company, private companies, partnership firms, sole proprietors, different organizations and individuals.
- It has become the part of our educational system as all the results are prepared and announced in percentage parameter.
- Employees pay tax as a specific rate on their employees.
- GST (General Sales Tax) is calculated in form of specific rate charged on prices of different products and services.
- In financial system, if you lend or borrow some money then interest or profit or markup is also charged as percentage of principal amount.
So after viewing in how many fields percentage is used, we may say that in aggregate percentage is applied in almost all the fields of economy and that’s why we need to calculate it the most. Then we think about a percentage calculator with which help we can calculate percentage without applying any formula with multiplication and division. Such a percentage calculator is designed by calculator online net blog. You just need to inset the amount and percentage rate thereon; it will calculate the value of percentage for you with built in formulas and within couple of seconds. You also don’t need to incur any cost for using it. You just need to bookmark it.