Question

A bank is offering home loans at an interest rate of 5 1/2%. Write the percent as a fraction in simplest form.

Answer 1

5 1/2%=5.5%
5.5%=5.5/100=55/1000
55/1000=11/200

Answer 2

Answer:

The percent as a fraction in simplest form is $5\frac{1}{2}\%=\frac{11}{200}$  

Step-by-step explanation:

Given : A bank is offering home loans at an interest rate of $5\frac{1}{2}\%$.

To find : Write the percent as a fraction in simplest form ?

Solution :

Interest rate is  $5\frac{1}{2}\%$

Convert mixed fraction into improper fraction,

$5\frac{1}{2}\%=\frac{11}{2}\%$

Converting percentage by dividing number by 100,

$5\frac{1}{2}\%=\frac{11}{2}$

$5\frac{1}{2}\%=\frac{11}{2}\times \frac{1}{100}$

$5\frac{1}{2}\%=\frac{11}{200}$

Therefore, The percent as a fraction in simplest form is $5\frac{1}{2}\%=\frac{11}{200}$