This can be done easily in a few ways. One, you could do equivelent fractions as this. 16 percent is the same as 16 over 100, or, 16/100, 100 being the total with an = sign with X over 550, or, X/550. you can multiply 16 by 500 and divide by 100 to get $88. Or you could do it my way, (prefered way). take the $550, divide it by 100, then multiply by 16 and get $88. either way you do this, you take away the $88 from $550 and get the sale price of [Drumroll please...]
462 Dollars!
