At the local bank, 60% of the employees have 2 or more children. There are 240 employees that have fewer than 2 children. How many employees does the bank have?
To determine the total number of employees at the bank, we need to find the number of employees who have 2 or more children. We are given that 60% of the employees fall into this category.
Let's denote the total number of employees as "T".
Therefore, 60% of T employees have 2 or more children.
We can calculate this by multiplying the percentage (60%) by the total number of employees T:
0.60 * T
We are also given that there are 240 employees who have fewer than 2 children.
So, the number of employees with fewer than 2 children is given as 240.
To find the total number of employees, we need to add these two portions together:
0.60 * T + 240 = T
Now, we can solve this equation to find the value of T:
0.60 * T - T = -240
-0.40 * T = -240
T = -240 / -0.40
T = 600
Therefore, the bank has a total of 600 employees.