Greetings all! It's been a long time for me and percentages..... what is the basic formula? For example 8.25% of $11,735.00?[/quote
There are several ways you could approach this type of problem.
you could set up a proportion:
part / whole = % / 100
Using this method, the "part" is not known. So, let's use "x" for that. The "whole" is 11375. The percent is 8.25. Substitute:
x / 11375 = 8.25 / 100
Cross-multiply:
x * 100 = 8.25 * 11375
OR, you could write an equation based on the relationship that
part = (%/100) * whole
x = (8.25 / 100) * 11375
This is basically the same thing you would get from the other approach.