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you purchase this house for 475,000. the realtor earns 5% of this purchase:

: how much is the commission

Answers
I would do this by firstly working out what 10% of the purchase price is - ie just move the digits along one place to the right - then halve this figure to give you 5%.
veronica
07 November 2011
If you have a calculator I am sure you can work it out :)
jon.ellis
08 November 2011
Another way of working it out is: 475,000 x 5/100
jon.ellis
08 November 2011
A quick way of working out percentages with a calculator is to use the decimal equivalent of the percentage & multiplying by the decimal, eg, 5% is 0.05, so on your calculator you do 475000 x 0.05. It's the same answer any way, you just need to choose the most convenient method for you...
walterthewhale
10 November 2011
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Similar questions

How to Find 1 Percent of a Number

Introduction

Have you ever seen a 5% discount in a shop or needed to calculate a 15% tip? All percentage calculations, no matter how complex, are built on one simple, core skill: finding 1 percent.

The word "percent" literally means "per hundred." So, 1% is simply one part out of one hundred.

Once you know how to find 1% of a number, you can easily find any other percentage.

  • To find 5%, you just find 1% and multiply it by 5.
  • To find 20%, you find 1% and multiply it by 20.
  • To find 72%, you find 1% and multiply it by 72.

This guide will show you the one simple trick to find 1% of any number instantly.

The Key Method: Finding 1%

Because 1% means "one out of one hundred" (£1/100£), finding 1% of a number is the same as dividing that number by 100.

The fastest way to divide any number by 100 is to move the decimal point two places to the left.

That's the entire trick.

Worked Example 1: A simple number

Find 1% of 300.

  • The number is 300. The decimal point is at the end: 300.
  • Move the decimal two places to the left: 3.00
  • Answer: 1% of 300 is 3.

Worked Example 2: A number with no zeros

Find 1% of 189.

  • The number is 189. The decimal point is at the end: 189.
  • Move the decimal two places to the left: 1.89
  • Answer: 1% of 189 is 1.89.

Worked Example 3: A number that already has a decimal

Find 1% of 84.5.

  • The number is 84.5.
  • Move the decimal two places to the left: 0.845
  • Answer: 1% of 84.5 is 0.845.

Worked Example 4: A very small decimal number

Find 1% of 0.7.

  • The number is 0.7.
  • Move the decimal two places to the left. We need to add zeros for the empty spaces: 0.007
  • Answer: 1% of 0.7 is 0.007.

Practice Questions & Solutions

1

Find 1% of 500.

Solution

To find 1% of 500, we move the decimal point two places to the left.

500. becomes 5.00

Answer: 5

2

Find 1% of 900.

Solution

To find 1% of 900, we move the decimal point two places to the left.

900. becomes 9.00

Answer: 9

3

Find 1% of 250.

Solution

o find 1% of 250, we move the decimal point two places to the left.

250. becomes 2.50

Answer: 2.5

4

Find 1% of 476.

Solution

To find 1% of 476, we move the decimal point two places to the left.

476. becomes 4.76

Answer: 4.76

5

Find 1% of 81.

Solution

To find 1% of 81, we move the decimal point two places to the left.

81. becomes 0.81

Answer: 0.81

6

A t-shirt costs £40. How much is 1% of its price?

Solution

To find 1% of £40, we move the decimal point two places to the left.

40. becomes 0.40

Answer: £0.40 (or 40p)

7

Find 1% of 15,200.

Solution

To find 1% of 15,200, we move the decimal point two places to the left.

15200. becomes 152.00

Answer: 152

8

Find 1% of 70.5.

Solution

To find 1% of 70.5, we move the decimal point two places to the left.

70.5 becomes 0.705

Answer: 0.705

9

Find 1% of 1.25.

Solution

To find 1% of 1.25, we move the decimal point two places to the left.

1.25 becomes 0.0125

Answer: 0.0125

10

A bank offers a 1% annual interest rate. If you deposit £5.50, how much interest would you earn in a year?

Solution

We need to find 1% of 5.50. We move the decimal point two places to the left.

5.50 becomes 0.0550

Answer: £0.055