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Math lesson 253 · Calculations

Percent, Decimal, and Fraction Conversions

Percent means per hundred. Convert percent to decimal by dividing by 100, and decimal to percent by multiplying by 100. Convert a fraction to decimal by dividing numerator by denominator. Millage and mortgage points use different named units, so convert them by their own definitions.

Facts checked against the current PSI Candidate Information Bulletin and GREC sources. Last reviewed August 2, 2026. Editorial standards.

What is the exam-ready answer?

Percent means per hundred. Convert percent to decimal by dividing by 100, and decimal to percent by multiplying by 100. Convert a fraction to decimal by dividing numerator by denominator. Millage and mortgage points use different named units, so convert them by their own definitions.
Official syllabus mapping for Percent, Decimal, and Fraction Conversions
Roadmap post253 of 500
Official syllabus topicXI Real Estate Calculations: percentage, rate, ratio, millage, and point conversions
Official PSI areaReal Estate Calculations
Published weight7% of the 100-question national portion
Source editionPSI Georgia Candidate Information Bulletin dated July 1, 2026
Content checked throughAugust 2, 2026

The Rule

PSI publishes a weight for the complete official area, not a guaranteed count for this individual calculation. Follow the stated facts, units, time basis, and rounding instruction.

Formula and variables

Rate conversions: Decimal = percent / 100; percent = decimal x 100; decimal = numerator / denominator
Variables used in Rate conversions
Symbol or termMeaning
PercentA rate per 100, written with a percent sign
DecimalA rate expressed as a place value used in multiplication
FractionA numerator divided by a denominator

Step-by-step method

  1. Name the starting and requested forms before moving a decimal.
  2. Divide a percentage by 100 to create a calculation decimal.
  3. Multiply a decimal by 100 to report a percentage.
  4. Divide numerator by denominator to convert a fraction.
  5. Apply named-unit rules separately: one mill is 0.001 and one mortgage point is 1% of the loan.

Georgia-specific distinction

Georgia property-tax millage is dollars per $1,000 of taxable assessed value. A 30-mill rate equals 0.030, or 3%, when applied to taxable assessed value. It is not 30% and it is not directly applied to full fair market value in the ordinary Georgia calculation.

Worked examples

Example 1: Convert a fractional percentage

Scenario. Convert 7.25% to decimal and use it on $480,000.

  1. 7.25% / 100 = 0.0725.
  2. $480,000 x 0.0725 = $34,800.

Answer. The decimal is 0.0725 and 7.25% of $480,000 is $34,800.

Reasonableness check. Seven percent is $33,600, so the result should be slightly higher.

Example 2: Convert millage

Scenario. Convert 27.5 mills to a decimal applied to taxable assessed value.

  1. One mill = 1 / 1,000 = 0.001.
  2. 27.5 mills = 27.5 / 1,000 = 0.0275.
  3. 0.0275 = 2.75%.

Answer. 27.5 mills equals 0.0275, or 2.75% of taxable assessed value.

Reasonableness check. The division is by 1,000 because mill means per thousand.

Common exam traps

  • Using 7.5 instead of 0.075 in multiplication
  • Turning 0.8 into 0.8% instead of 80%
  • Treating 30 mills as 30%
  • Confusing one mortgage point with one basis point

Original practice questions with detailed explanations

These original instructional questions map to the July 1, 2026 PSI outline. They are not copied from PSI or any live examination. Write the setup before opening the explanation.

Question 1

What decimal equals 6.5%?

  1. A. 0.0065
  2. B. 0.065
  3. C. 0.65
  4. D. 6.5
Show answer and explanation →

Answer: B. 0.065

Divide 6.5 by 100 to get 0.065.

Question 2

What percentage equals 0.825?

  1. A. 0.825%
  2. B. 8.25%
  3. C. 82.5%
  4. D. 825%
Show answer and explanation →

Answer: C. 82.5%

Multiply 0.825 by 100 to get 82.5%.

Question 3

What decimal rate equals 32 mills?

  1. A. 0.0032
  2. B. 0.032
  3. C. 0.32
  4. D. 32.0
Show answer and explanation →

Answer: B. 0.032

Divide mills by 1,000: 32 / 1,000 = 0.032.

Mastery tracking

Mark this calculation mastered only when every statement is true.

  • I convert percent to decimal without guessing decimal places.
  • I convert decimal to percent and preserve fractional precision.
  • I convert common fractions by division.
  • I know millage is per thousand and points are percent of loan.
  • I estimate the expected magnitude before accepting the calculator result.

Recommended next lesson

Continue with Rounding and Units on Real Estate Exam Math. Protect correct conversions from final-answer formatting errors.

Return to the complete calculation hub, formula sheet, or mixed math drill.

Percent, Decimal, and Fraction Conversions questions

Facts checked against the current PSI Candidate Information Bulletin and GREC sources. Last reviewed August 2, 2026. Editorial standards.

Is Percent, Decimal, and Fraction Conversions on the Georgia real estate exam?

It maps to XI Real Estate Calculations: percentage, rate, ratio, millage, and point conversions in the official Real Estate Calculations area. PSI assigns 7% of the 100-question national portion to the complete area but does not guarantee a count for this individual formula.

What formula should I use for Percent, Decimal, and Fraction Conversions?

Decimal = percent / 100; percent = decimal x 100; decimal = numerator / denominator

What Georgia-specific point should I remember?

Georgia property-tax millage is dollars per $1,000 of taxable assessed value. A 30-mill rate equals 0.030, or 3%, when applied to taxable assessed value. It is not 30% and it is not directly applied to full fair market value in the ordinary Georgia calculation.

Can I use a calculator on the Georgia real estate exam?

PSI provides an online calculator during the examination. Handheld calculators are prohibited. Write the setup and label the units before entering numbers.