A college awards a scholarship of $5000 to a student. If the student has to pay

A college awards a scholarship of $5000 to a student. If the student has to pay 15% tax on the scholarship, how much does he receive after tax?

A college awards a scholarship of $5000 to a student. If the student has to pay 15% tax on the scholarship, how much does he receive after tax?

Step 1: Identify the total amount of the scholarship, which is $5000.
Step 2: Calculate the tax amount by finding 15% of $5000.
Step 3: To find 15% of $5000, multiply $5000 by 0.15 (which is 15% as a decimal).
Step 4: The calculation is $5000 * 0.15 = $750. This is the tax amount.
Step 5: Subtract the tax amount from the total scholarship amount to find out how much the student receives after tax.
Step 6: The calculation is $5000 - $750 = $4250.
Step 7: The final amount the student receives after tax is $4250.

Percentage Calculation – Understanding how to calculate a percentage of a given amount.
Subtraction – Performing subtraction to find the net amount after tax.