What is 7 percent of 1.037 - 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 1.037 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 1.037 is 100%, so we can write it down as 1.037=100%.
4. We know, that x is 7% of the output value, so we can write it down as x=7%.
5. Now we have two simple equations:
1) 1.037=100%
2) x=7%
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:
1.037/x=100%/7%
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 7% of 1.037

1.037/x=100/7
(1.037/x)*x=(100/7)*x       - we multiply both sides of the equation by x
1.037=14.285714285714*x       - we divide both sides of the equation by (14.285714285714) to get x
1.037/14.285714285714=x
0.07259=x
x=0.07259

now we have:
7% of 1.037=0.07259