What is 5% of $60?
Learn how to calculate 5% of $60 with our step-by-step guide and real-world US examples
Quick Answer
5% of $60 equals $3. To calculate this, we convert the percentage to a decimal (5 ÷ 100 = 0.0500) and multiply it by $60.
Visual Representation
The chart shows how $3 relates to the total $$60
Step-by-Step Calculation
- 1Convert the percentage to a decimal by dividing by 100: 5 ÷ 100 = 0.0500
- 2Multiply the decimal by the number: 0.0500 × 60 = 3.00
- 3Therefore, 5% of 60 is 3.00
Real-Life Examples
Shopping & Discounts: If a $60 item has a 5% discount, you save $3.00, paying $57.00.
Black Friday Sale: During Black Friday, a $60 product with 5% off costs $57.00 instead.
Tax Calculation: A 5% sales tax on $60 adds $3.00 to your bill, totaling $63.00.
Restaurant Tips: A 5% tip on a $60 bill is $3.00.
Understanding the Formula
The general formula for calculating what a percentage of a dollar amount equals is:
In this case, we're calculating 5% of $60:
- First, divide the percentage by 100: 5 ÷ 100 = 0.0500
- Then, multiply by the amount: 0.0500 × $60 = $3
This formula works for any percentage calculation. You can use our calculator above to try different values.
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