Calculating 3.5 Percent of 400,000: A Step-by-Step Guide
Determining a percentage of a number is a fundamental mathematical operation with widespread applications in various fields, from finance and budgeting to sales and statistics. This guide will clearly explain how to calculate 3.5 percent of 400,000, providing a step-by-step approach that's easy to follow and understand.
Understanding Percentages
Before diving into the calculation, let's quickly review the concept of percentages. A percentage is a fraction of 100, represented by the symbol "%". For example, 10% means 10 out of 100, or 10/100, which simplifies to 1/10 or 0.1 as a decimal.
Method 1: Using Decimal Conversion
This is the most straightforward method. We convert the percentage to a decimal and then multiply it by the given number.
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Convert the percentage to a decimal: To convert 3.5% to a decimal, divide it by 100: 3.5 / 100 = 0.035
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Multiply the decimal by the number: Multiply 0.035 by 400,000: 0.035 * 400,000 = 14,000
Therefore, 3.5% of 400,000 is
Method 2: Using Fractions
Alternatively, we can express the percentage as a fraction and then perform the calculation.
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Convert the percentage to a fraction: 3.5% can be written as 3.5/100. To simplify, we can multiply both numerator and denominator by 10 to get rid of the decimal: (3.5 * 10) / (100 * 10) = 35/1000
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Simplify the fraction (optional): This fraction can be simplified further by dividing both numerator and denominator by 5: 7/200
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Multiply the fraction by the number: Multiply 7/200 by 400,000: (7/200) * 400,000 = 7 * 2000 = 14,000
Again, we arrive at the answer: 3.5% of 400,000 is
Practical Applications
Understanding percentage calculations is crucial in many real-world scenarios. For instance:
- Finance: Calculating interest earned on savings accounts or interest payable on loans.
- Sales: Determining discounts or calculating commission earned.
- Statistics: Analyzing data and understanding proportions within a dataset.
- Everyday life: Calculating tips at restaurants, understanding sale prices, or figuring out the amount of tax on a purchase.
This explanation provides a comprehensive understanding of how to calculate 3.5% of 400,000, using two different methods. Remember, both methods yield the same accurate result: 14,000.
