What is 1.12 percent of 500000 - 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 500000 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 500000 is 100%, so we can write it down as 500000=100%.
4. We know, that x is 1.12% of the output value, so we can write it down as x=1.12%.
5. Now we have two simple equations:
1) 500000=100%
2) x=1.12%
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:
500000/x=100%/1.12%
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 1.12% of 500000

500000/x=100/1.12
(500000/x)*x=(100/1.12)*x       - we multiply both sides of the equation by x
500000=89.285714285714*x       - we divide both sides of the equation by (89.285714285714) to get x
500000/89.285714285714=x
5600=x
x=5600

now we have:
1.12% of 500000=5600