Question: how do you calculate the percentage of a dollar amount?
Answer: To calculate a percentage of a percentage, convert both percentages to fractions of 100, or to decimals, and multiply them. For example, 50% of 40% is calculated; (50/100) x (40/100) = 0.50 x 0.40 = 0.20 = 20/100 = 20%. NOTE: It is not correct to divide by 100 and use the percent sign at the same time.