I just watched a House of Commons Committee questioning representatives of 'payday lenders'.
Confronted by the information that 3% of a set of 1.25 million borrowers had difficulty repaying, one MP decided to calculate how many people were involved.
His first attempt was 3% of 1.25 million = 125 000
He then resorted to a calculator, and after taking rather longer than I'd have expected, opted for 'about 40 000', which is I suppose near enough, but what a lot of fuss about a very easy calculation !!
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