What is 1 percent of 550575.65 - 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 550575.65 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 550575.65 is 100%, so we can write it down as 550575.65=100%.
4. We know, that x is 1% of the output value, so we can write it down as x=1%.
5. Now we have two simple equations:
1) 550575.65=100%
2) x=1%
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:
550575.65/x=100%/1%
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% of 550575.65

550575.65/x=100/1
(550575.65/x)*x=(100/1)*x       - we multiply both sides of the equation by x
550575.65=100*x       - we divide both sides of the equation by (100) to get x
550575.65/100=x
5505.7565=x
x=5505.7565

now we have:
1% of 550575.65=5505.7565