700 is what percent of 1.01 - 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 1.01 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 100% equals 1.01, so we can write it down as 100%=1.01.
4. We know, that x% equals 700 of the output value, so we can write it down as x%=700.
5. Now we have two simple equations:
1) 100%=1.01
2) x%=700
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:
100%/x%=1.01/700
6. Now we just have to solve the simple equation, and we will get the solution we are looking for.

7. Solution for 700 is what percent of 1.01

100%/x%=1.01/700
(100/x)*x=(1.01/700)*x       - we multiply both sides of the equation by x
100=0.0014428571428571*x       - we divide both sides of the equation by (0.0014428571428571) to get x
100/0.0014428571428571=x
69306.930693069=x
x=69306.930693069

now we have:
700 is 69306.930693069% of 1.01