<em>Percent </em>literally means <em>for each 100</em>, which aligns perfectly with the definition of <em>hundredths </em>(1 hundredth means 1 out of 100 equal parts). In fact, the two concepts are equivalent, and the value 7.23% is the same as 7.23 <em>hundredths</em>. We can write this more precisely with the notation , and multiplying the numerator and denominator by 100 to get rid of the decimal point gives us the fraction , which we can write in decimal form as 0.0723
In general, we can convert any percent to a decimal by <em>dividing it by 100</em>, which has the effect of moving the decimal <em>two places to the left</em>.
