Imagine you received a bonus of $1045 at work, and you decide to invest 15% of it into a savings account. You want to know how much money you are putting into savings.
Solution:
Amount saved = Bonus amount * Percentage saved / 100
Amount saved = (15 * 1045) / 100
Amount saved = $10.45
Simply put, when you receive a bonus of $1045 and decide to save 15%, you will save $10.45.
Calculating a 20% Tip on a $1045 Bill:
Convert the percentage to a decimal: \( \frac{20}{100} = 0.2 \)
Multiply by the total amount: \( 1045 \times 0.2 = 209.00 \)
Tip amount: $209.00
Finding 15% Discount on a $1045 Item:
Convert the percentage to a decimal: \( \frac{15}{100} = 0.15 \)
Multiply by the total amount: \( 1045 \times 0.15 = 156.75 \)
Discount amount: $156.75
Final price after discount: \( 1045 - 156.75 = 888.25 \)