Answer: 6%
Step-by-step explanation: Step 1: We make the assumption that 2000 is 100% since it is our output value.
Step 2: We next represent the value we seek with x.
Step 3: From step 1, it follows that 100%=2000$.
Step 4: In the same vein, x%=120.
Step 5: This gives us a pair of simple equations:
100%=2000(1).
x%=120(2).
Step 6: By simply dividing equation 1 by equation 2 and taking note of the fact that both the LHS
(left hand side) of both equations have the same unit (%); we have
[tex]\frac{100\%}{x\%}=\frac{2000}{120}[/tex]
Step 7: Taking the inverse (or reciprocal) of both sides yields
[tex]\frac{x\%}{100\%}=\frac{120}{2000}[/tex]
[tex]\Rightarrow x=6\%[/tex]
Therefore, 120 is 6% of 2000$.
