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Shillings are more like cents. There are 20 shillings in a pound, just like there are 100 cents in a dollar. This way, shillings are more like cents.
50 cents
Pennies and cents are the same, so 50 cents = 50 pennies
Each penny is worth one cent, so there are 50 pennies in 50 cents.
100% of a dollar = 100 cents therefore 1% of a dollar = 1 cent so 50% of a dollar = 50 cents