Answer:
ITS 24% 
Explanation:
To rephrase this problem: 120 is what percent of 500. 
 
Let's call the percent we are looking for 
p 
. Then we can say: 
 
p 
 of 500 = 120 or 
p × 500 = 120 
Solving for 
p 
while keeping the equation balanced gives: 
 p × 500 
 500 = 120 
500 p = 0.24 or 
24 %