What is 0.01 percent of 1.047 - 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 1.047 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 1.047 is 100%, so we can write it down as 1.047=100%.
4. We know, that x is 0.01% of the output value, so we can write it down as x=0.01%.
5. Now we have two simple equations:
1) 1.047=100%
2) x=0.01%
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:
1.047/x=100%/0.01%
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 0.01% of 1.047

1.047/x=100/0.01
(1.047/x)*x=(100/0.01)*x       - we multiply both sides of the equation by x
1.047=10000*x       - we divide both sides of the equation by (10000) to get x
1.047/10000=x
0.0001047=x
x=0.0001047

now we have:
0.01% of 1.047=0.0001047