no good at sums

Hi to anyone who can help me.

I know this makes me look silly but I'm no good with numbers especially percentages! I've been awarded 40% of exs pension CETV 196k what is 40% of this figure? Also I need to get a mortgage in my name how do I do this? Should I go to a financial advisor? I work parttime £439 pm and I get tax credits for 1 child living with me.

Thanks ahead of time.

Pinkfish

Hi Pinkfish. I make it £78,400. If you want a mortgage just look on line for the best deal. Moneysupermarket.com is a good place to start. There are on line calculators for mortgages. I used to use the nationwide one. Chris

Thanks ChrisM I will look there

Pinkfish

For future reference for other people not good at sums:

40% means 40 out of 100.

So 40% of £100 is £40
40% of £200 is double this: £80

Similarly, 65% of £100 is £65 and 65% of £200 is double that: £130.

and so on...

It's more difficult when you aren't getting percentages of whole hundreds.

A percentage is basically a way of writing a fraction as if it were out of 100. Writing fractions as percentages makes it easier to compare amounts because it makes them all the same kind of fraction.

In your case, you are being offered 40/100 of £196000. Bearing in mind that 'of' is basically the same as 'times' in mathematics, this is the sum you do:

40/100 x 196000 = £78400

So, in general:

Take the percentage you are being offered, divide by 100 and multiply by the sum it's the percentage of, and that will give you the amount in hard cash.

Hope this is helpful,

Sadie