Yes, or as full way to calculate:

* 1 / 100 % is calculation of percentage, * 100 % / 1 is calculation of absolute amount.

And, as stated in a different comment, remember that the commutative property applies to these numbers.

Right, and once you write it down on paper it becomes obvious. Unfortunately it wasn't anything I remember being taught in school.

This is the real trick, and then you realize you can multiply both sides by one hundred, and you end up with the commutative property of math: XY = YX

Either of:

  X**Y=X**Y
  X\*Y=X\*Y

Produces X*Y=X*Y