What percent of 500 is 120?
24% of 500 is 120.
To rephrase this problem: 120 is what percent of 500.
Let's call the percent we are looking for
To find out what percentage one quantity is of another quantity:
As soon as you write a fraction it also represents a decimal fraction.
Multiplying by #100% is the same as multiplying by 1, so you are not changing the value of the fraction, only the form of the fraction.
Fraction = decimal = percent
What percent is 120 of 500?
In this case you can find the percent by making an equivalent fraction with a denominator of 100.