   Chapter 6.II, Problem 12TIE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Solve the following for the base. Round to hundredths or the nearest cent when necessary.$550 is 88% of what amount? To determine To calculate: The amount of which$550 is 88%.

Explanation

Given Information:

The provided amount is $550 and provided percentage is 88%. Formula used: Step1: Recognize the two known values and the unknown value. Step2: Pick the formula that computes the unknown value. The formula to compute the rate is: Rate=PortionBase Step3: Solve the equation by putting the known values for the variables in the formula. Calculation: Consider that, the value of rate is R=88% as rate is the term having % sign and the value of portion is P=$5,50 as it is the part of the whole and hence \$5,50 is the portion.

So, the missing value is base as base is the whole amount frequently recognized as the value headed by the word of

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