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Step 1:: To calculate 3% of 7000, we first need to understand that "3%" is another way of writing the fraction \frac{3}{100}.
This is because 3 parts out of 100 is equivalent to 3 hundredths or 0.03 in decimal form.
Step 2:: Now, we can rewrite the problem as finding the product of the decimal equivalent of 3% and the number 7000:
Percentage of 7000 =Decimal form of 3% * 7000
Step 3:: To find the decimal form of 3%, we divide 3 by 100:
Decimal form of 3% = $$\frac{3}{100}$$ = 0.03
Step 4:: Substitute this decimal value back into our formula from Step 2:
Percentage of 7000 = 0.03 * 7000
Step 5:: Finally, perform the multiplication:
Percentage of 7000 = 0.03 * 7000 = 210
Final Answer
3% of 7000 is 210.
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