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3% of a sum of money is $60.What is the sum of money?

User FutbolFan
by
7.8k points

2 Answers

2 votes
2000

Got it right already
User Jiamin
by
7.7k points
1 vote

Answer:

2000

Explanation:

Formula = Number x 100/Percent = 600 x 100/3 = 2,000

Following shows the steps on how to derive this formula and find out 3% of what number is 60.

Step 1: If 3% of a number is 60, then what is 100% of that number? Setup the equation.

60/3% = Y/100%

Step 2: Solve for Y

Using cross multiplication of two fractions, we get

3Y = 60 x 100

3Y = 6000

Y = 6000/100= 2000

User NSExceptional
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7.3k points