Imagine you received a bonus of $511 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 * 511) / 100
Amount saved = $5.11
Simply put, when you receive a bonus of $511 and decide to save 95%, you will save $5.11.
Calculating a 20% Tip on a $511 Bill:
Convert the percentage to a decimal: \( \frac{20}{100} = 0.2 \)
Multiply by the total amount: \( 511 \times 0.2 = 102.20 \)
Tip amount: $102.20
Finding 15% Discount on a $511 Item:
Convert the percentage to a decimal: \( \frac{15}{100} = 0.15 \)
Multiply by the total amount: \( 511 \times 0.15 = 76.65 \)
Discount amount: $76.65
Final price after discount: \( 511 - 76.65 = 434.35 \)