This phrase represents a percentage calculation. To determine the value, one calculates 20% of 120,000. This is accomplished by multiplying 120,000 by 0.20 (the decimal equivalent of 20%). The result is 24,000. This type of calculation is fundamental in various fields, from finance and accounting to statistics and data analysis.
Understanding percentage calculations is crucial for accurate financial modeling, informed decision-making, and interpreting data effectively. The ability to quickly and accurately perform such calculations enables efficient resource allocation, accurate budgeting, and a comprehensive understanding of proportional relationships within larger datasets. This skill has broad application across numerous disciplines and contributes to clear communication of quantitative information.
This foundational mathematical concept will be applied throughout the subsequent sections to illustrate [mention specific application areas of the main article, e.g., market share analysis, budgetary projections, or risk assessment]. The examples will demonstrate the practical implications of these calculations in a real-world context.
