Problem 61 - Introductory Algebra for College Students

Question

A charity has raised \(\$ 7500\), with a goal of raising \(\$ 60,000\). What percent of the goal has been raised?

Step-by-Step Solution

Answer

The charity has raised 12.5% of their goal.

Step 1: Identify the Whole and the Part

Firstly, identify what represents the 'whole' and what represents the 'part'. The 'whole' is the goal, which is $60,000. The 'part' is the amount of money that has already been raised, which is $7,500.

Step 2: Write the Formula for Finding Percentage

The formula to calculate the percentage is: \(\frac{{Part}}{{Whole}} \times 100\). This formula demonstrates how to calculate what percentage the 'part' is of the 'whole'.

Step 3: Input Values into the Formula

Substitute the values we have into the formula. \(\frac{{7500}}{{60000}} \times 100\) .

Step 4: Calculate the Percentage

The result of \(\frac{{7500}}{{60000}}\) multiplied by 100 gives the percentage.

Step 5: Simplify it

Simplify the result to a decimal. It can be helpful to use a calculator for this step.