What is 1.01 percent of 120000 - step by step solution

To get the solution, we are looking for, we need to point out what we know.

1. We assume, that the number 120000 is 100% - because it's the output value of the task.
2. We assume, that x is the value we are looking for.
3. If 120000 is 100%, so we can write it down as 120000=100%.
4. We know, that x is 1.01% of the output value, so we can write it down as x=1.01%.
5. Now we have two simple equations:
1) 120000=100%
2) x=1.01%
where left sides of both of them have the same units, and both right sides have the same units, so we can do something like that:
120000/x=100%/1.01%
6. Now we just have to solve the simple equation, and we will get the solution we are looking for.

7. Solution for what is 1.01% of 120000

120000/x=100/1.01
(120000/x)*x=(100/1.01)*x       - we multiply both sides of the equation by x
120000=99.009900990099*x       - we divide both sides of the equation by (99.009900990099) to get x
120000/99.009900990099=x
1212=x
x=1212

now we have:
1.01% of 120000=1212