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\frac{48000}{500000}\times 100
Subtract 500000 from 548000 to get 48000.
\frac{12}{125}\times 100
Reduce the fraction \frac{48000}{500000} to lowest terms by extracting and canceling out 4000.
\frac{12\times 100}{125}
Express \frac{12}{125}\times 100 as a single fraction.
\frac{1200}{125}
Multiply 12 and 100 to get 1200.
\frac{48}{5}
Reduce the fraction \frac{1200}{125} to lowest terms by extracting and canceling out 25.