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Percentages make things simpler by showing parts out of 100. You've probably seen the "%" symbol—it's like a quick way of saying "out of a hundred." Imagine a 25% discount; that means you're paying three-quarters of the original price. In money matters, percentages help us understand interest rates and investment returns, making finance less confusing. In school, percentages help with grades and test scores. It's like saying, "I got 80%," which means you did well compared to the total possible marks.

Religion-wise, there's Zakat—giving around 2.5% of what you have to help others.Talking about giving, there's also Usher in Islam. It's like a tax on agricultural stuff, around one-tenth of what's produced, helping the community.

Now, in finance and other parts of life, percentages are crucial. When it comes to money and taxes:

-Income Tax: This is the money you give to the government based on how much you earn. The more you earn, the higher the percentage you pay in taxes.

-Property Tax: If you own a house, you might have to pay a percentage of its value to the local government. This money helps with things like schools and roads in your area.

-Sales Tax: When you buy things, a small percentage is added to the price. This extra money goes to the government to help with different services.

-Corporate Tax: Companies also pay a percentage of their profits to the government. This helps fund government projects and services.

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Percentages are essentially fractions where the denominator is 100. To show that a number is a percent, we use the percent symbol (%)

2nd ANSWER

the use of percentage is needed almost everywhere shopes,calculating,sales,finance,incom tax,sales tax,grading of marks and ext.

ZAKAT is the third pillar of islam

we as muslims should give 2.5% zakat to needy people

usher

usher tax is used to provide social welfair funds,user a 10% tax on the harvests of irrigated land and 10% tax on harvest from rain-watered land and 5% on Land dependent on well water.

income tax

Pakistan levies tax on its residents on their worldwide income,minimum income tax rate of 2.5% for those earning up to Rs. 100,000 per month and a maximum of 35% for individuals earning a monthly

salary over

property tax

In pakistan the property tax is 5% of the fair market value of the immovable property.

sales tax

The Federal Government of Pakistan has increased the general Sales Tax rate to 18% effective. A 25% higher rate of Sales Tax applies to a wide range of goods imported and supplied in Pakistan and for some locally manufactured vehicles.

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Percentage is a fraction it shows a ratio or a proportion of a number like if i eat a half pizza then it msans i ate 1/2 of a pizza that means 50 %

Noor

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a percentage is a number or ratio that represents a fraction of 100. Percentages are often denoted by the symbol "%" written after the number.

1 Discounts are offered everywhere, be it on clothes, shoes, books, etc. To calculate the discount on an item, you must know the list price or original price of the item and the discount percentage. The calculation would be List Price x Discount Percentage = Discount Amount. For example, if a shirt that costs $50 is on sale for 20% off, to calculate the discount, multiply the original price by 0.2. In this case, you will get $10, which is 20% of $50. So, the final cost of the shirt would be $40.

2Inflation is a crucial concept of economics to calculate the overall inflation Tallying and calculating the prices and quantities, the economists are able to give out the percentage of prices inflated over a year, over 5 years, or over a decade.

3surveys are conducted, and the results of these surveys are given in the form of percentages. While being on a bar graph, or pie chart, we can notice how these figures come with a percentage with each demonstration. This is pure to help us understand the results of the observations made. For example, In a group of 50 people, 10% of people like Asian cuisine, 30% like Italian, 5% like Mexican, 25% like fast food, and 30% are fond of healthy items.

Zakat is a religious obligation for Muslims who meet the necessary criteria to donate a certain portion of their wealth each year to charitable causes.The zakah is levied on movable property if it remains in one's possession for one year, but the 'ushr is payable on each crop. Income tax is Payments made by individuals and corporations to a government entity based on their taxable income.sales tax is A tax on the purchase of a good or service or a system taxing people on how much they consume rather than how much they earn.Sales tax is15% of the Annual rental value of the property.

Dua Numan 7/T

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A number or ratio expressed as a fraction of 100 is known as a percentage (percentum in latin means by a hundred)

Percentages used in daily life.

1. Discounts in shops

example finding the 40% of 6000 as you want to buy a shirt on SALE

2. Rates of inflation

comparing the petrol rates under different political leaderships

3. Nutrition in your diet

taking well defined proportions of nutritions for starting healthy easily

4. Marks of your assessments

helping you find your over all grade

and many more

Islamic reference to Percentages

Zakat

is an Islamic financial term. As one of the pillars of the faith, it requires all Muslims to donate a portion of their wealth to charity.

THE proportion is around 2.5% of a persons overall wealth or saving

Usher

10% for irrigated lands or 10% for non-irrigated lands levy on agriculture produce

Income tax, sales tax and property tax all are taxes applied to your finance by the government for better development around the community

By Meeshaiem Mubeen

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In mathematics, a percentage is a number or ratio that can be expressed as a fraction of 100. If we have to calculate percent of a number, divide the number by the whole and multiply by 100. Hence, the percentage means, a part per hundred. The word per cent means per 100.

Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages.

Zakat

Your Zakat donation should amount to 2.5% of your total zakatable wealth.

Income tax

The government of Pakistan has set a minimum income tax rate of 2.5% for those earning up to Rs. 100,000 per month and a maximum of 35% for individuals earning a monthly salary over Rs.

Property tax

Property tax is a tax paid on property owned by an individual or other legal entity, such as a corporation.

The property tax in Pakistan is 5% of the total cost is taken as the annual cost, and 0.5% tax is charged on the annual cost. 7.5 % of the annual tax is imposed on residential rented property, and 10% is imposed on rented commercial industrial property.

Sales tax

A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer .

The standard sales tax rate in Pakistan is 17%. Exporters and certain providers of financial services may apply for a Sales Tax suspension.

Made by:

Anabia kamran

From 7c

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We use percentage s in our daily life for e.g pharmacies, office, bank and etc.Percentage are fractions.

ZAKAT:is the third pillar of Islam

Also we should give 2.5% ZAKAT to needy people

If the equation is 200-40%=120

From: ABDULLAH QAISER

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Percentages are a way of expressing a proportion or ratio in relation to 100. The symbol "%" is used to denote percentages.

Some ways percentages are used in real life:

1. Finance

2. Education

3. Health

4. Business

5. Discounts and sale

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Zakat in Islam is considered one of the Five Pillars of Islam. It involves giving a specific percentage (usually 2.5%) of one's accumulated wealth and assets to help those in need.

Income tax is a tax that governments impose on the income earned by people and businesses. In simple terms, when you make money, whether it's from your job, business, or other sources, a portion of that money goes to the government as income tax.

Property tax is a tax imposed on the value of real estate, typically by local governments such as municipalities or counties. It is a recurring tax that property owners must pay, and the revenue generated from property taxes is often used to fund local public services and infrastructure. The rate may vary.

Sales tax is a consumption tax imposed by governments on the sale of goods and services. It's typically a percentage of the retail price that consumers pay when they purchase taxable items. The revenue generated from sales tax is used to fund various government services and programs. The total sales tax rate is the sum of the state and local rates. For example, if the state has a 5% sales tax and the local jurisdiction adds an additional 2%, the total sales tax rate would be 7%.

By: Anniyah Fahad 7T

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Percentage is a number or ratio that can be expressed as a fraction of 100. If we have to find the percent of a number, divide the number by the whole,and multiple by it with 100. Hence the percentage means, a part per hundred. The word per cent means per 100. It is represented by the symbol " % ". Percentage is mainly use in discounts, bank interest rates, rates of inflation, and many statistics in the media. Percentage are important for understanding the financial aspects of everyday life.

Percentage are also use in our daily life like:

Zakat: zakat is an Islamic financial term

The amount is 2.5% or 1/40 of an individual's total savings and wealth.

Income tax: income tax is a percentage of individual's earning that is paid to the government. The minimum income tax rate of 2.5% for those earning upto

Rs.100,000 per month and a maximum of 35% for individual's earning a monthly salary over rs.

Property tax: In pakistan the property tax is 5% of the fair market value of the immovable property.

Sale tax: A sale tax is a percentage added to the sale of goods and services. The sale tax rate is 18%.

Yashfa Usman 7 T

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percentage, a relative value indicating hundredth parts of any quantity. One percent (symbolized 1%) is a hundredth part; thus, 100 percent represents the entirety and 200 percent specifies twice the given quantity.Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages. Percentages are important for understanding the financial .aspects of everyday life.Percentages are used to calculate discounts and sales tax. For example, a 20% discount on a 10. Finance: Percentages are used to calculate interest on loans, mortgages, and savings accounts. For example, a 5% interest rate on a 50 in interest over a year.For every year that you owe Zakat, take 2.5% from the total wealth you had at the end of that year and pay that in Zakat. If you are not sure how much wealth you had, you must estimate it to the best of your ability.Personal Income Tax Rate in Pakistan is expected to reach 35.00 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Pakistan Personal Income Tax Rate is projected to trend around 35.00 percent in 2025, according to our econometric models.Being a property seller you should know everything about property taxes in Pakistan. Sellers are required to pay the CGT (Capital Gain Tax), which is 1% of the property value for the tax filer and 2% for the non-filer. The CGT is applied on properties that are sold within two years from their purchase date.VAT (locally termed as 'sales tax') is ordinarily levied at 18% on the value of goods, unless specifically exempt or subject to sales tax at a reduced rate, after allowing related input credits. Sales tax on services is levied by Islamabad Capital Territory, Azad Jammu, and Kashmir at rates ranging from 13% to 16%.

-✨Abeeha-Bint-e-Asim✨

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percentage, a relative value indicating hundredth parts of any quantity. One percent (symbolized 1%) is a hundredth part; thus, 100 percent represents the entirety and 200 percent specifies twice the given quantity.

In essence, it’s a way of expressing a number as a fraction of 100. So if we say that something is 50%, that means it’s 50 out of 100, or 1/2. If we say it’s 75%, that means it’s 75 out of 100, or 3/4.

In our daily lives, we use percentages all the time without even realizing it. For example, discount percentages while shopping, during cash back on that purchase, or while paying Interest rates on loans, the concept of percentage is everywhere.

Common uses of percentage in finance a non-finance real world are

1.   To calculate Sales tax on an item, inn Pakistan we pay 18% sales tax on any item we purchase.

2.   Zakat: Zakat is an Islamic finance term referring to the obligation that an individual has to donate a certain proportion of wealth each year to charitable causes. The rate of Zakat is 2.5% (meaning you have to donate 2.5 rupees on every 100 rupees)

3.   Income Tax: Everyone has to pay a certain amount in % terms to government in terms of income tax.

4.   Property tax: a certain amount in terms of % is paid to the government whenever a property such as a car/house/land is sold or purchased.

5.   Discounts: the brands offering discounts on their products during the mega sales events. If a shop is offering 30% discounts on its product means 30 rupees of on every 100 rupees.

6.   Grading of marks:  This is another very popular use of percentages that students are very well acquainted with. In order to, you must first know the weight of each assignment, quiz, test, etc. The weight is usually given in percentages. For example, if a final exam is worth 30% of your grade and you got an 80 on the exam, then you would multiply. 0.8 by 0.30 to get your grade on the final exam, which would be 24%

Maria Farooq 7-T

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A percentage is a number that can be expressed as a fraction of 100. They are commonly used in our daily life. The sign of the percentage is denoted by (%).

There are many types of percentages, e.g. Finace,tax of property, tax on the item that you purchased from any store,income tax,sales tax,bank interest rates,income tax.e.t.c.

ZAKAT: In zakat every muslim should full fill his or her duty to give 2.5% of there wealth in zakat.

TAX: A tax is a mandatory payment that is collected by local,state and national governments from individuals.

FOR EXAMPLE: 1 percent of 1,000 Students equals 1/100 of 1,000 or 10 Students.

BY: Saadia Ali Agha 7-C

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1. Percentage is a way to express a ratio as a fraction of 100.Percentages are commonly used in various aspects of daily life such as calculations.if we have to calculate percentage of a number, divide the number by the whole and multiply it by 100.Percentage is represented by the symbol%There are many ways that percentage is used in daily life like for going shopping and there is a sale if a shirt is on sale for 2000 and 50% of so we will pay 1000rs.50% is half of the number .in this way we have save 1000rs buying from sale.

Zakat: is payable at 2.5% of the wealthy one possesse above the nisab.zakat should be paid at 2.5% on all cash balance and bank balances in your savings .we can pay 2.5% of the value of the gold that we own.

Property tax :is levied on the annual value of land and buildings. In punjab for example the tax is levied at the rate of 5% of the annual value .simple put the annual value of a property is the estimated amount the property would fetch if rented out for a year .

1. Income tax :the percentage varies by country and income level.Its essential to check the specific tax laws of your country .Maximum income tax rate of 2.5% for those earning up to rs.

2. Usher usher :is payable on each crop.usher is not just tax Ushet is paid by harvests only once.the usher tax is used to provide social welfare funds

1. Sales tax: is the ordinarily levied at 18% on the value of goods , unless specifically or subject to sale tax at a reduced rate.for example a 20% discount means the price is reduced by 20%.

Service tax: rate of service tax is 15% except telecommunication where it is 19.5% on the value oftaxable services.

1. Finance rate or interest rate is a percentage of a loan you take which you have to pay the lender. How is it calculated? Finance rate is calculated on an annual basis. For example a 7% finance rate means the rate of interest charged is 7% of the loan amount.

Rania abdullah class 7-C

The city school Dha campus

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Percentages represent a portion of 100 and are commonly used to express relative values or ratios .They are fractions that are always multiplied by 100 .In real life, percentages are used in various contexts such as calculating discounts, expressing interest rates, analyzing data, and more.

Zakat: Zakat is a form of almsgiving in Islam, where Muslims contribute a percentage (usually 2.5%) of their wealth annually to help the people in need.

Usher: a 10% tax on the harvests of irrigated land and 10% tax on harvest from rain-watered land and 5% on Land dependent on well water.

Income Tax: Income tax is a percentage of an individual's earnings that is paid to the government. The percentage varies based on income levels and tax regulations in each country.

Property Tax: Property tax is a percentage of the assessed value of real estate and is levied by local governments. Rates can vary depending on the location and the value of the property.

Sales Tax: Sales tax is a percentage added to the sale of goods and services at the point of purchase. It is collected by the seller and remitted to the government. Rates vary by jurisdiction.

The required percentage for Zakat is typically 2.5%, while income tax, property tax, and sales tax percentages can vary widely depending on the laws and regulations of the specific region or country. It's advisable to check the current rates applicable in your area.

Hania Irfan 7-T

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A percentage is a proportion that shows a number as parts per hundred. It is a number or ratio that can be expressed as a fraction of 100. Percentages are widely used for discounts, bank interest rates, rates of inflation, and many statistics in the media. Percentages are important for understanding the financial aspects of daily life. Percentages are also used in calculating various things like profit/loss percentage, data comparison growth rates, and many more. In elections, percentages are used to express votes cast for different candidates.

Zakat: Zakat is a charitable donation made by Muslims, calculated as 2.5% of their surplus wealth. In simple terms, Zakat is calculated as 2.5% per cent of our savings and financial assets that are not used in our living expenses.

Income tax: the percentage of income tax varies widely throughout Pakistan and is based on the assessed value of the property.

Sales tax: Sales tax revenue is used to fund various government programs and services such as education, transportation, and healthcare. Also, it's a form of indirect tax, which means that it is a tax that can be shifted to others.

Innaya 7T

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Qazi Muhammad Moosa 7T,

So Basically Percentages are a ratio or any number which is showed/expressed as a fraction which is out of 100. Percentages are out of 100.

Percentages play a big role in our real life. For Example they can be used in paying zakat, bank interest rates, different types of taxes, when calculating result, in shops. They are used in shops when there is a discount. E.g. 10 % on a $20 shirt. This way percentages are used in shops. U can use percentage to find the overall result of the child. It can be used in paying taxes as well like 5 percent sales tax on anything u eat in Pakistan. U can also use Percentages in Zakat in which you have to give a specific amount of percentage of your wealth to the ones in need. Percentages are used in GST TAX as well. Percentages if are not used then life is very hard. I used percentages in my life to calculate result, in shops. I can use percentage in many other ways too which I told before.

Zakat is a pillar of Islam which says to give a special amount of percentage of your wealth to ones in need. You have to give 2.5% of your wealth as zakat when your total wealth is more than 7.5tolas of gold or 52.5tolas of silver and the time of possession has been more than 1 year.

Ushar is a tax on the agriculture production of land. It is 10% for natural rainfall and 5% if artificially irrigated. You can give it to anyone except father, grandfather, great grandfather.

Sales Tax is different on every good. You have to give 5% sales tax for food and different for electronics as well as other goods.

Income Tax is a Tax which you pay for the amount of money you are getting. It is different for every amount of money. For example it is around 1250PKR FOR 100,000 PKR SALARY.

Property Tax is charged annually, and the assessed value is determined by the government's valuation agency, taking into account various factors such as size, location, and other relevant factors,location, and other relevant factors. It is different on every property. It is said that . Homeowners with an annual income of PKR 225,000 will have to pay 5% of the amount as property tax under the proposed plan.

Qazi Muhammad Moosa 7T

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The sign % stands for 'per cent' which means 'out of 100'.

40% means 40 out of 100

11% means 11 out of 100. Percentages are often used to express a proportionate part of a total. Percentages are used by businessmen to determine the amount of profit or loss they are making. 2. The concept of a percentage and its formula are used to calculate interest rates charged by banks on different Types of loans. Zakat is where a Muslim gives 2.5% Of His wealth.

Mohammad Mujtaba 7-T.

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Percentage, a relative value indicating hundredth parts of any quantity. If we have to calculate percent of a number, divide the number by the whole and multiply by hundred. The word percent is represented as %.The word percent comes from the Latin phrase per centum which means for each hundred. A percent is a another way of showing a fraction whose denominator is hundred.

1.Discounts in shops

2.Bank interest rates

3.Elections (for votes)

4.Marks

5.Grades

6.Results

7.Finance (Interest rates)

8.Sports (statistics about batting average)

9.Tax rates (income,sales,property)

10.Business (profit margin)

11.Nutrition (vitamins, minerals)

ZAKAT:

Zakat, the third pillar of Islam, Is a donation that Muslim regard as a mandatory act within their faith. Followers of Islam who have at least a minimum amount of wealth are required to give 2.5% of their liquid assets away to charity each year.

USHER:

A 5% percent tax on the harvests of irrigated land and 10% tax on harvest from rain watered land. This term has also been used for a 10% tax on merchandise imported from states that taxed the Muslims on their products.

INCOME TAX:

An tax charged by the government for the amount of income that you earned at a job. The tax is usually on your net income.

Example: Someone earns $100,000 from their job but they have $25,000 in tax deductions. This means this person will be income tax on the net income of $75,000.

PROPERTY TAX:

Property tax is a tax paid on property owned by an individual or other legal entity such as corporation. The required percentage for property tax is 10.5 percent.

SALES TAX:

A sales tax is a consumption tax imposed by the government on the sales of goods and services. The required percentage for sales tax is 15%

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Zakat: Zakat is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to 85 grams of 24k gold, is the minimum amount of wealth one must have before they are liable to pay zakat.

Ushur: a 10% tax on the harvests of irrigated land and 10% tax on harvest from rain-watered land and 5% on Land dependent on well water. The term has also been used for a 10% tax on merchandise imported from states that taxed the Muslims on their products.

Property tax: Under the new provisions, the tax rates remain at 3 percent for filers, but non-filers are now subject to a higher tax rate of 10.5 percent for property purchases. The changes came into effect on July 1, 2023, and are designed to streamline the taxation process associated with property transactions.

Income tax: The government of Pakistan has finalized tax slabs for salaried individuals for the fiscal year 2022-23 and has set a minimum income tax rate of 2.5% for those earning up to Rs. 100,000 per month and a maximum of 35% for individuals earning a monthly salary over Rs.

Sales tax: VAT (locally termed as 'sales tax') is ordinarily levied at 18% on the value of goods, unless specifically exempt or subject to sales tax at a reduced rate, after allowing related input credits.

Made by Zunairah Ahmed 7c

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Percentage is a number or ratio that represents a fraction of 100. It is one of the ways to represent a dimensionless relationship between two numbers; other methods include ratios, fractions, and decimals. Percentages are often denoted by the symbol "%" written after the number.There are many ways that percentage is used in real life like going shopping and there is a sale for example:if a shirt is on sale for 1500 and it is on sale for 30% off and if we buy it would only cost ous 1150rs saving 450rs.

ZAKAT:

In zakat you must donate 2.5% or more of how much your income is.

Property tax is a tax levied directly on property, such as real estate or tangible personal property like cars and boats. It is calculated by a local government where the property is located and paid by the owner of the property. The tax is usually based on the value of the owned property, including land. The local governing body will use the assessed taxes to fund water and sewer improvements, and provide law enforcement, fire protection, education, road and highway construction, libraries, and other services that benefit the community.The rate of property tax in Lahore, Punjab, Pakistan is 5% of the annual value of the property at which it may be let out from year to year basis.

Sales tax; is a consumption tax imposed by the government on the sale of goods and services ¹ ². It is usually charged as a percentage of the retail cost at the point of purchase. Local and municipal governments may charge their own sales tax, which is added to the state sales tax.For example, if you purchase a product for $100 and the sales tax rate is 10%, you will pay $110 in total. The extra $10 is the sales tax, which is collected by the retailer and passed on to the government .

Income tax is a type of tax that governments impose on income generated by businesses and individuals within their jurisdiction. It can be personal, business, or state and local . The federal government and many states, as well as local jurisdictions, levy their own income taxes. Personal income tax is a type of income tax levied on an individual’s wages, salaries, and other types of income. Business income taxes apply to corporations, partnerships, small businesses, and the self-employed

OMAR HANIF 7-T

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In mathematics, a percentage is a number or ratio that can be expressed as a fraction of 100. If we have to calculate percent of a number, divide the number by the whole and multiply by 100. the percentage means, a part per hundred. The word per cent means per 100. It is represented by the symbol “%”

Ushur or ushr in Islam, is 10 percent for irrigated lands or 10 percent for non-irrigated lands levy on agriculture produce. Caliph Umar expanded the scope of ushr to include border trade tax.Zakat, the third pillar of Islam, is a donation that Muslims regard as a mandatory act within their faith. Followers of Islam who have at least a minimum amount of wealth are required to give 2.5% of their liquid assets away to charity each yearProperty tax is charged at the rate of 15% of the Annual rental value of the property.An income tax is a tax imposed on individuals or entities in respect of the income or profits earned by them. Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local state.Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages. Percentages are important for understanding the financial aspects of everyday life.

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Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages. Percentages are important for understanding the financial aspects of everyday life.percentage (from Latin per centum 'by a hundred') is a number or ratio expressed as a fraction of 100. 

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Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages. Percentages are important for understanding the financial aspects of everyday life.percentage (from Latin per centum 'by a hundred') is a number or ratio expressed as a fraction of 100. 

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Property tax: the rate for property tax can vary widely and is usually based on the assessed value on the property.local government set these rates and they can range from a fraction of a percentage to several percent

Rafiah 7 t

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Percentages are essentially fractions where the denominator is 100. To show that a number is a percent, we use the percent symbol (%) beside the number.

Percentage uses in real life

Discounts at shops

Bank interest rates

Rate of inflation

Many statistics in media

Zakat and Usher

The Zakat is levied on movable property if it remains in one's possession for one year. The amount required in zakat is 2.5%.

the 'Usher is payable on each crop. The 'ushr is payable on the produce of the land even if the owner is a minor or a lunatic.Usher requires 10% tax on the harvests of irrigated land and 10% tax on harvest from rain-watered land and 5% on Land dependent on well water.

Income and property tax

An income tax is a tax imposed on individuals or entities in respect of the income or profits earned by them.

income exceeding PKR 200 million up to 250 million - 2% income exceeding PKR 250 million up to 300 million - 3% income exceeding PKR 300 million up to 350 million - 4% income exceeding PKR 350 million up to 400 million - 6% (4% for 2022)

A property tax is an ad valorem tax on the value of a property. The tax is levied by the governing authority of the jurisdiction in which the property is located.The Tax Rate varies between 2% and 5% depending on the category of the property.

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Percentages represent a proportion or fraction of 100. They are commonly used in various aspects of daily life, such as calculating discounts, interest rates, or evaluating changes. For example, when shopping, a 20% discount means the price is reduced by one-fifth.

Zakat and Usher are Islamic concepts involving charitable giving, usually a percentage of one's wealth, to support the less fortunate. Income tax is a government levy on earnings, varying by income level. Property tax is a percentage of a property's assessed value, supporting local services. Sales tax is a percentage added to the sale of goods and services.

Specific percentages depend on jurisdiction and income brackets. Always check local regulations for accurate rates.

By, Ibrahim Rana

# data[].attributes.body
A percentage is a number or ratio that can be expressed as a fraction of 100. If we have to calculate percent of a number, divide the number by the whole and multiply by 100. The word per cent means per 100. It is represented by the symbol “%”.Percentages are used widely and in many different areas. For example, discounts in shops, bank interest rates, rates of inflation and many statistics in the media are expressed as percentages. Percentages are important for understanding the financial aspects of everyday life.

We can use percentage in our daily life like:

Zakat:

You must donate 2.5% of your Zakatable amount of wealth to fulfill your obligation. Example: Fatima has calculated her Zakatable amount over one lunar year to be $17,000. Her Zakat is 2.5% of $17,000. $17,000 x 0.025 = $425.

Income tax: Determine Taxable Income: Start with your total income and subtract any eligible deductions and exemptions to find your taxable income.Identify Tax Brackets: Understand the tax brackets applicable to your income. Tax systems often have different rates for different income ranges.Apply Rates: For each tax bracket, apply the corresponding tax rate to the portion of your income within that bracket. Multiply the income in each bracket by its associated rate.Sum Up: Add up the tax amounts calculated for each bracket to get your total income tax liability.

For example, if the tax rates are 10% for income up to $50,000 and 20% for income above $50,000, someone with an income of $60,000 would pay 10% on the first $50,000 and 20% on the remaining $10,000

Property tax:

Find the Value: Determine the value of your property. This is like figuring out how much your house is worth. Know the Rate: Find out the property tax rate set by your local government. This is like a percentage that you have to pay based on your property's value.Calculate the Tax: Multiply the value of your property by the property tax rate. That gives you the property tax you have to pay.

For example, if your property is worth $100,000 and the property tax rate is 2%, you would calculate it like this: $100,000 * 0.02 (which is 2% as a decimal) = $2,000. So, your property tax would be $2,000.

Sales tax:

Calculate Sales Tax Amount:Multiply the original price by the sales tax percentage.

For example, if something costs $100 and the sales tax is 5%, you'd do: \$100 \times fraction}{100} = \$5 \) for the sales tax amount.Add Sales Tax to Original Price:Add the calculated sales tax amount to the original price to find the total cost.In our example, the total cost would be $100 + $5 = $105 So, if an item costs $100 with a 5% sales tax, the total cost would be $105.

By Mahnoor Ali 7T

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Percentage is a way to express a proportion or a ratio as a fraction of 100. It's often denoted by the "%" symbol. For example, 25% is equivalent to the fraction 1/4. Percentages are commonly used to represent proportions, discounts, or changes in values relative to a whole.Percentages are used in various aspects of real life for convenient representation and comparison.

1. Finance: Percentage is widely used in finance for interest rates, investments, and calculating returns. For instance, an interest rate of 5% on a loan means that you'll pay 5% of the loan amount as interest.Grades and Scores:** In education, percentages are often used to express grades or exam scores, making it easy to understand performance relative to the total possible marks.

2 . Discounts and Sales: Percentages are commonly used to denote discounts during sales or promotions. For example, a 20% discount means the price is reduced by 20%.Zakat and Usher are religious obligations in Islam related to charitable giving. Zakat is typically a mandatory annual donation, usually around 2.5% of a Muslim's wealth, aimed at helping those in need. Usher, on the other hand, is a form of agricultural produce tax, usually a tenth of agricultural products.

Income tax, property tax, and sales tax are forms of financial obligations imposed by governments:

1. Income Tax: The percentage varies by country and income level. Different tax brackets exist, with higher incomes often taxed at higher rates. It's essential to check the specific tax laws of your country for accurate rates.

2. Property Tax: The rate for property tax can vary widely, and it is usually based on the assessed value of the property. Local governments set these rates, and they can range from a fraction of a percent to several percent.

3. Sales Tax: Sales tax rates also vary by location. Different regions or countries set their rates, and they can be a fixed percentage of the sale price or vary for different types of goods and services.

For accurate and up-to-date information, it's crucial to refer to the tax laws and regulations specific to your location. Tax rates and regulations are subject to change and can differ significantly between countries and regions. Name : Fajar ali from 7T