Final answer:
The rate is calculated as the percentage divided by the base, multiplied by 100. When you have a percentage of 40 with a base of 120, the resulting rate is approximately 33.33%.
Step-by-step explanation:
The question is asking to find the rate when the percentage is 40 and the base is 120. To calculate the rate, which is the percentage divided by the base and then multiplied by 100, we perform the following calculation: (40/120) × 100. Simplifying this, we get 1/3 × 100, which is approximately 33.33%. Therefore, the rate is 33.33%.