What is 1 percent of 500000?
Understand the Problem
The question is asking for the calculation of 1 percent of 500,000. This requires finding 1% of the given number by multiplying it with 0.01.
Answer
$5,000$
Answer for screen readers
The final answer is $5,000$.
Steps to Solve
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Identify the percentage to calculate We need to find 1 percent ($1%$) of 500,000.
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Convert the percentage to a decimal To find 1 percent, we convert it to a decimal. This is done by dividing by 100: $$ 1% = \frac{1}{100} = 0.01 $$
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Multiply the decimal by the total amount Now, multiply the converted decimal by 500,000 to calculate 1 percent: $$ 0.01 \times 500,000 $$
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Compute the final result Finally, perform the calculation: $$ 0.01 \times 500,000 = 5,000 $$
The final answer is $5,000$.
More Information
Finding percentages is a common task in various fields, such as finance, statistics, and everyday calculations. Calculating 1 percent of a number is straightforward and can be applied to any value.
Tips
- Confusing percent with decimal: Remember that 1 percent is $0.01$ as a decimal.
- Multiplying incorrectly: Ensure that multiplication is performed accurately to avoid errors.
