problem:
Mr. Hunter saves 18% of his monthly salary of € 2 640,- for his retirement.
How much money does he save per month?
answer:
1. step: given/wanted
given: the base value = € 2 640,- the rate = 18%
wanted: part (save per month)
2. step formula:
part = base * rate : 100
part = 2 640 * 18 : 100
part = € 475.20
He saves 475.20 € per month.