Step-by-step arithmetic breakdown
To calculate 10% of 500, convert the percentage into a decimal by dividing by 100, then multiply by the whole amount:
1. Convert percentage to fraction: 10 / 100 = 0.1000
2. Multiply by base number: 0.1000 × 500
3. Exact result: 50
Everyday real-world applications
- Retail & Discounts: If a product priced at $500 is discounted by 10%, your savings equal $50.
- Tax & Tips: A 10% service tip on a $500 restaurant bill equals exactly $50.
- Financial Yields: An investment yielding 10% on a principal of $500 produces $50 in interest.