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Percent means out of 100

A share, rewritten against one agreed whole: a hundred.

Why this exists

“3 out of 4” and “18 out of 24” can be the same share, and still be annoying to compare. People picked a common whole so every share could be rewritten against the same size.

The common whole is 100. Percent means “per hundred.” It is not a new amount. It is a renamed share.