To solve this problem, we will follow a simple process using the percentage formula.
- Step 1: Identify the percentage and the quantity. Here, the percentage is 7%, and the quantity is 40.
- Step 2: Apply the percentage formula: Percentage Value=1007×40.
- Step 3: Calculate the result. First, compute the multiplication: 7×40=280. Following that, divide by 100: 100280=2.8.
Therefore, the solution to the problem is 2.8.