what is 23 of $55.96

2 min read 24-12-2024

Finding a percentage of a number is a common calculation in various situations, from calculating sales tax to determining discounts. This article will guide you through calculating 23% of $55.96, explaining the process step-by-step, and providing alternative methods for those who prefer different approaches.

Understanding Percentage Calculations

Before diving into the calculation, let's refresh our understanding of percentages. A percentage represents a fraction of 100. For instance, 23% is equivalent to 23/100 or 0.23. To find a percentage of a number, we multiply the number by the percentage expressed as a decimal.

Method 1: Direct Calculation

This is the most straightforward method. We convert the percentage to a decimal and multiply it by the original amount.

Step 1: Convert the percentage to a decimal.

23% = 23/100 = 0.23

Step 2: Multiply the decimal by the original amount.

0.23 * $55.96 = $12.87

Therefore, 23% of $55.96 is $12.87.

Method 2: Using Fractions

Alternatively, you can use fractions. Remember that 23% is equivalent to 23/100.

Step 1: Express the percentage as a fraction.

23% = 23/100

Step 2: Multiply the fraction by the original amount.

(23/100) * $55.96 = $12.87

Again, we arrive at the same answer: 23% of $55.96 is $12.87.

Method 3: Using a Calculator

Most calculators have a percentage function. Simply enter 55.96, press the multiplication key (*), then enter 23, and finally press the percentage key (%). The calculator will directly display the result: $12.87.

Practical Applications

Understanding percentage calculations is crucial in many real-world scenarios. Here are a few examples:

Sales tax: Calculating the sales tax on a purchase.
Discounts: Determining the discount amount on a sale item.
Tips: Calculating a tip amount at a restaurant.
Commission: Calculating commission earned on sales.
Financial analysis: Determining percentages of profits, losses, or expenses.

Conclusion

Calculating 23% of $55.96 involves a simple multiplication of the decimal equivalent of the percentage (0.23) and the original amount. Whether you use direct calculation, fractions, or a calculator, the answer remains the same: $12.87. Mastering this basic percentage calculation will significantly enhance your ability to tackle more complex financial and mathematical problems.