Imagine you received a bonus of $1068 at work, and you decide to invest 95% 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 = (95 * 1068) / 100
Amount saved = $10.68
Simply put, when you receive a bonus of $1068 and decide to save 95%, you will save $10.68.
Calculating a 20% Tip on a $1068 Bill:
Convert the percentage to a decimal: \( \frac{20}{100} = 0.2 \)
Multiply by the total amount: \( 1068 \times 0.2 = 213.60 \)
Tip amount: $213.60
Finding 15% Discount on a $1068 Item:
Convert the percentage to a decimal: \( \frac{15}{100} = 0.15 \)
Multiply by the total amount: \( 1068 \times 0.15 = 160.20 \)
Discount amount: $160.20
Final price after discount: \( 1068 - 160.20 = 907.80 \)