What is 3 percent of 380,000?
Understand the Problem
The question is asking for the value of 3 percent of 380,000. This can be calculated by multiplying 380,000 by 0.03.
Answer
$11,400$
Answer for screen readers
The value of 3 percent of 380,000 is $11,400$.
Steps to Solve
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Convert Percentage to Decimal To find 3 percent, we convert the percentage into decimal form. This can be done by dividing the percentage by 100. So, $3% = \frac{3}{100} = 0.03$.
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Multiply the Decimal by the Total Amount Now we need to multiply the decimal (0.03) by the total amount (380,000) to find 3 percent of that amount: $$ 3% \text{ of } 380,000 = 0.03 \times 380,000. $$
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Calculate the Result We will now perform the multiplication to get the final result: $$ 0.03 \times 380,000 = 11,400. $$
The value of 3 percent of 380,000 is $11,400$.
More Information
Understanding percentages is important in various real-life applications, such as calculating discounts, taxes, or financial investments. 3 percent may seem small, but when applied to large numbers, it can yield significant amounts.
Tips
One common mistake is forgetting to convert the percentage into decimal form before multiplying, which would lead to incorrect results.
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