What is 5 percent of 500,000?
Understand the Problem
The question is asking for the calculation of 5 percent of 500,000. To solve this, we will find out what 5 percent means mathematically and then apply it to the number 500,000.
Answer
$25,000$
Answer for screen readers
The answer is $25,000$.
Steps to Solve
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Convert Percentage to Decimal To find a percentage of a number, you need to convert the percentage to a decimal. To convert 5 percent to decimal, divide by 100: $$ 5% = \frac{5}{100} = 0.05 $$
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Multiply by the Total Amount Once you have the decimal, multiply it by the total amount (which is 500,000 in this case) to find 5 percent of it: $$ 0.05 \times 500,000 $$
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Calculate the Result Now calculate the multiplication: $$ 0.05 \times 500,000 = 25,000 $$
The answer is $25,000$.
More Information
Finding a percentage is a common task in finance, sales, and many other fields. Understanding how to convert percentages and perform these calculations can be very useful. For instance, if you were determining sales tax or discounts, knowing that 5% of 500,000 is $25,000 can give insights into total costs or profits.
Tips
- Misunderstanding Percentages: Often, people forget to convert the percentage into decimal form before multiplying. Always divide the percentage by 100 first.
- Calculation Errors: Be careful with the multiplication; double-check your arithmetic to ensure accuracy.
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