Imagine you received a bonus of $122 at work, and you decide to invest 48% 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 = (48 * 122) / 100
Amount saved = $1.22
Simply put, when you receive a bonus of $122 and decide to save 48%, you will save $1.22.
Calculating a 20% Tip on a $122 Bill:
Convert the percentage to a decimal: \( \frac{20}{100} = 0.2 \)
Multiply by the total amount: \( 122 \times 0.2 = 24.40 \)
Tip amount: $24.40
Finding 15% Discount on a $122 Item:
Convert the percentage to a decimal: \( \frac{15}{100} = 0.15 \)
Multiply by the total amount: \( 122 \times 0.15 = 18.30 \)
Discount amount: $18.30
Final price after discount: \( 122 - 18.30 = 103.70 \)