A man received 7% interest on a loan of $800 for 1 year. How much interest did he receive?
Here's an easy way to figure out this and any percentage question. One per cent (1 dollar out of $100) of $800 would be $8. So, if the man received 7 per cent out of $800, then just multiply $8 times 7, which is 56...so $56! This is also an easy way to figure out how much tip to leave at a restaurant. Glad to help!
Ms. Debbie K.