What is 6 percent of 1.031 - 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 1.031 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 1.031 is 100%, so we can write it down as 1.031=100%.
4. We know, that x is 6% of the output value, so we can write it down as x=6%.
5. Now we have two simple equations:
1) 1.031=100%
2) x=6%
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:
1.031/x=100%/6%
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 6% of 1.031

1.031/x=100/6
(1.031/x)*x=(100/6)*x       - we multiply both sides of the equation by x
1.031=16.666666666667*x       - we divide both sides of the equation by (16.666666666667) to get x
1.031/16.666666666667=x
0.06186=x
x=0.06186

now we have:
6% of 1.031=0.06186