Ira S. answered 02/14/15
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5% of 1108 means 5/100 * 1108/1. when multiplying fractions, you multiply the top numbers(numerators) and divide in by the product of the bottom numbers(denominators). So we've got 5*1108 = 5540 / 100 = 55.4.
I'm not sure what that 362 is, but at least you know what a percent means as a fraction and how to do it on your calculator.
Hope this helped.