What is 1 Percent of 70000?

What is 1 percent of 70000?

Answer: 1 percent of 70000 is 700. Alternatively, we can say that 700 is equivalent to 1% of 70000.

Solution for What is 1 percent of 70000:

n = 1 percent of 70000

n = 1 % * 70000

n = \frac{1}{100} * 70000

n = \frac{1 * 70000}{100}

n = \frac{70000}{100}

n = 700

Now we have 1% of 70000 = 700. Alternatively, we can express it as 1 percent of 70000 equals 700.

The step-by-step process for finding what is 1 percent of 70000:

The mathematical calculation of 1% of 70000 can be broken down as follows:

1 percent * 70000
Convert this into an equation: (1 / 100) * 70000
Simplify the equation further: (1 * 70000) / 100
Carry out the calculation: 70000 / 100
The final answer is: 700

Thus, we conclude that 1% of 70000 is 700.

Explanation for What is 1% of 70000:

Step 1: **1 percent * 70000**

Think of percent as parts out of 100. So, when we say 1 percent, it's like having 1 parts out of a total of 100. What we want to do now is find out what those 1 parts would be if our total was 70000 instead of 100.

Step 2: **(1 / 100) * 70000**

This is like dividing our 1 parts into 100. It's as if we have 100 pieces of candy and we only want 1 of those pieces. That gives us 0.1 or 1 hundredths. Now we multiply those 1 parts (or 0.1) by 70000 to find out what 1% of 70000 would be.

Step 3: **(1 * 70000) / 100**

This is an alternative calculation. Instead of doing it in two steps like we did before, we can also do it in one step. First, we multiply 1 (our 1 parts) by 70000 (our total amount), and then we divide that by 100.

Step 4: 70000 / 100

The previous step gave us 70000. But remember we were pretending our total was 100? Now we have to divide by 100 to get back to the number for our real total, which is 70000. That's why we divide 70000 by 100.

Step 5: 700

Finally, after dividing 70000 by 100, we arrive at the answer: 700. Hence, we can definitively say that 1% of 70000 equals 700.

This guide aims to simplify the understanding of percentage calculations, focusing on the question "What is 1% of 70000?" Keep practicing with different numbers to hone your skills in percentage calculations. We hope this helps you in your quest for better mathematical understanding.