1200.00 = one thousand two hundred (or twelve hundred)
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120000
3% of 120000 = 3% * 120000 = 0.03 * 120000 = 3600
120000
1% of 120,000= 1% * 120000= 0.01 * 120000= 1,200
percentage of 12000 out of 120000 = 10%% rate:= 12000/120000 * 100%= 0.10 * 100%= 10%