Determining a percentage of a given value is a fundamental mathematical operation with widespread applications. In the specific case of calculating 60% of $2400, the process involves converting the percentage into a decimal (0.60) and multiplying it by the total value ($2400). This calculation yields the portion of the total amount represented by the specified percentage.
Understanding percentage calculations is essential in various financial contexts. This knowledge allows for the accurate assessment of discounts, interest rates, profit margins, and tax liabilities. The ability to quickly and correctly compute such values facilitates informed decision-making in personal and professional financial management. Historically, percentages have been a cornerstone of trade and commerce, enabling standardized and readily understandable comparisons of proportions.
