What is 6% of 70,000?
Understand the Problem
The question is asking for the calculation of 6% of 70,000. To solve this, we will calculate 6/100 multiplied by 70,000.
Answer
$4,200$
Answer for screen readers
The answer is $4,200$.
Steps to Solve
- Convert the percentage to a decimal
To calculate 6% as a decimal, divide by 100:
$$ 6% = \frac{6}{100} = 0.06 $$
- Multiply the decimal by the total amount
Now that we have the decimal, multiply it by the total amount, which is 70,000:
$$ 0.06 \times 70,000 $$
- Perform the multiplication
Now calculate the result of the multiplication:
$$ 0.06 \times 70,000 = 4,200 $$
The answer is $4,200$.
More Information
Calculating a percentage is often used in finance, such as when determining sales tax, tips, or discounts. Notably, 6% of $70,000 is a common calculation when assessing investment growth or expenses.
Tips
- Forgetting to convert the percentage to a decimal before multiplying. Always remember to divide the percentage by 100.
- Misplacing the decimal point during multiplication. Double-check your calculations for accuracy.
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