Imagine you received a bonus of $105 at work, and you decide to invest 28% 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 = (28 * 105) / 100
Amount saved = $1.05
Simply put, when you receive a bonus of $105 and decide to save 28%, you will save $1.05.
Calculating a 20% Tip on a $105 Bill:
Convert the percentage to a decimal: \( \frac{20}{100} = 0.2 \)
Multiply by the total amount: \( 105 \times 0.2 = 21.00 \)
Tip amount: $21.00
Finding 15% Discount on a $105 Item:
Convert the percentage to a decimal: \( \frac{15}{100} = 0.15 \)
Multiply by the total amount: \( 105 \times 0.15 = 15.75 \)
Discount amount: $15.75
Final price after discount: \( 105 - 15.75 = 89.25 \)