Question

When sales of a particular hybrid automobile reach 60,000 units, federal income tax credits begin to phase out. One year after reaching this threshold, buyers are still eligible for 25% of the original $3000 credit. What tax credit would buyers receive if they purchased the vehicle at this time.

Answer 1

Answer:

$750

Step-by-step explanation:

so, in short, we need to calculate 25% of $3000.

that is the amount of tax credit a buyer would get then.

direct and fast answer :

25% means 1/4 of the overall amount.

$3000 / 4 = $750

now, a little bit longer to explain % calculations in general.

let's say, we are talking 27%. now we have a problem to find a fast fraction as factor.

it always starts with the identification of 100%.

what is the full starting amount we are dealing with ? that is the 100%.

in our case $3000.

now, as a base for the calculation we determine 1%, which is 1/100 of 100%, of course.

1% = $3000 / 100 = $30

to get said 27% we have to multiply this by 27

27% = 1% × 27 = $30 × 27 = $810

or in general

x% = 100% × x / 100

that also works for more complex questions. e.g. calculate 1.5%

1.5% = $3000 × 1.5 / 100 = $30 × 1.5 = $45

and that is all there is to % calculations. all the questions are just some variations, where your are missing one of the 3 "ingredients" : 100% amount, x% amount and x itself.

and you need to transform the general equation above to get the missing piece of of the given information.