Imagine you received a bonus of $648 at work, and you decide to invest 16% 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 = (16 * 648) / 100
Amount saved = $6.48
Simply put, when you receive a bonus of $648 and decide to save 16%, you will save $6.48.
Calculating a 20% Tip on a $648 Bill:
Convert the percentage to a decimal: \( \frac{20}{100} = 0.2 \)
Multiply by the total amount: \( 648 \times 0.2 = 129.60 \)
Tip amount: $129.60
Finding 15% Discount on a $648 Item:
Convert the percentage to a decimal: \( \frac{15}{100} = 0.15 \)
Multiply by the total amount: \( 648 \times 0.15 = 97.20 \)
Discount amount: $97.20
Final price after discount: \( 648 - 97.20 = 550.80 \)