Distinguishing between concepts in Microsoft Dynamics AX 2012: percent vs. percentage
In this blog entry we take a closer look at how we apply the concepts named percent and percentage in Microsoft Dynamics AX.
We use the term percent to represent a proportional rate expressed in hundredths. For example:
- The organization’s profits increased 1.3 percent this quarter.
A numeral is always used with the term percent in sentences, no matter how small the numeral is. However, in Microsoft Dynamics AX, when the term percent is used in column headings to name the rate percent term in the percentage formula, you will see the term percent without a numeral.
We use the term percentage to represent the rate percent of a base quantity or amount.
The mathematical formula for calculating percentage is: base * rate percent = percentage. The base can be expressed as a quantity or as an amount. For example:
If you apply a 15 percent discount to a list price of 500.00 USD, the discount percentage is 75.00 USD.
The term percentage is also used when a quantity is not specified, for example, “a large percentage of system resources,” or when applying the percentage formula.
Term challenge
In the sentences that follow, insert the term that accurately completes each sentence.
To see if you applied the terms as we have, click the link in each sentence. Each link will take you to the Microsoft Dynamics AX glossary entry for the highlighted term, which shows you which term we have applied – percent or percentage.
- A discount is a fixed amount or ____________ deducted from a quoted price or price total.
- Only 2 ____________ of the test group was unable to complete the task.
- An ABC classification is a system for ranking discrete categories of items according to Pareto's 80/20 principle that states that a small ____________ of items account for the largest fraction of significance.