When it comes to calculating percentages, it can be a bit overwhelming, especially for those who struggle with math. However, breaking down the process into smaller steps can make it much more manageable. In this article, we will be discussing how to calculate 20% of 150k, step by step.
What does 20% mean?
Before we dive in, let’s first define what we mean by 20%. In math, percentage is the expression of a proportion or a ratio in terms of hundredths. 20% is the same as 20/100, which can also be simplified to 1/5.
Step 1: Convert 150k into a decimal
To calculate 20% of 150k, we first need to convert 150k into decimal form. 1k is equivalent to 1,000, so 150k is the same as 150,000. To convert this number into decimal form, we simply divide it by 100. This gives us a decimal of 1500.
Step 2: Multiply the decimal by 20%
Now that we have our decimal, we can simply multiply it by 20%. To do this, we can convert 20% into decimal form by dividing it by 100. This gives us a decimal of 0.20. We can then multiply our previous decimal of 1500 by 0.20 to get the answer.
The Calculation
| Step | Calculation | Result |
|---|---|---|
| 1. | 150k / 100 | 1500 |
| 2. | 1500 x 0.20 | 300 |
Breaking it down into smaller portions:
Now that we’ve gone through the calculations let’s break it down into smaller parts.
Step One: Converting 150k to decimal form
Here we convert our initial value, 150k, into decimal form. We do this by dividing 150k by 100, giving us a decimal value of 1500.
Step Two: Multiplying by 20%
Using the decimal value we just calculated, we now multiply it by 20%. To do this, we convert 20% into decimal form by dividing it by 100. This gives us a decimal of 0.20. Finally, we multiply 1500 by 0.20, which gives us the answer of 300.
Why is calculating percentages important?
Percentages are important in many aspects of life, including finance, business, and even everyday activities. They allow us to compare two or more values that may be of different magnitudes or proportions. For example, if you’re looking to purchase a product, knowing its rate of discount can help you decide whether or not it’s a good deal. Similarly, in finance, percentages are used to calculate interest rates, investment returns, and other financial indicators.
How to calculate percentages using a calculator
If you’re struggling to calculate percentages on your own, don’t worry. There are plenty of online calculators that can help. Simply type in the values you need to calculate and the calculator will do the rest.
How to calculate percentages without a calculator
If you don’t have a calculator handy, you can still calculate percentages manually. To do this, follow these steps:
- Convert the percentage number into a decimal by dividing it by 100
- Multiply the decimal by the number you want to find the percentage of
- The result is the percentage of the number you’re interested in
Common mistakes when calculating percentages
There are a few common mistakes that people make when calculating percentages. One of the most common mistakes is confusing percentages for decimals. Remember that percentages are expressed in terms of hundredths, while decimals are expressed in terms of tenths or hundredths. Another mistake is forgetting to convert percentages into decimal form before doing calculations, which can lead to incorrect results.
Conclusion
Calculating percentages may seem daunting at first, but with a little practice, it can become second nature. Remember to convert percentages into decimal form before doing calculations and check your work for mistakes. With these tips in mind, you’ll be able to calculate percentages with ease.
References:
Mathplanet. (n.d.). Percentages. Retrieved from https://www.mathplanet.com/education/pre-algebra/decimals-and-percent/percentages
Mathsisfun. (n.d.). Percentages. Retrieved from https://www.mathsisfun.com/percentage.html
Common Questions and Answers
Here are the most common questions asked about calculating 20% of 150k:
- What is 20% of 150000?
- To calculate 20% of 150000, first convert 150000 into a decimal, which is 1500. Then, multiply 1500 by 0.20 to get the answer, which is 300.
- How do you calculate 20% of a number?
- To calculate 20% of a number, first convert the number into decimal form. Then, multiply the decimal by 0.20 to get the answer.
- What is the formula to calculate percentages?
- The formula to calculate percentages is: (percentage /100) * value = result