Key learning points

1. A context can be evaluated to determine what sort of percentage calculation is involved.
2. As percentages can be written as fractions and decimals, they are very versatile.
3. Percentage change is not just connected to money.

Keywords

• Simple interest - Simple interest is always calculated on the original amount.

• Compound interest - Compound interest is the interest calculated on the original amount and the interest accumulated over the previous period.

• Exponential form - When a number is multiplied by itself multiple times, it can be written more simply in exponential form.

Common misconception