1. The problem states: "One thousand less twelve percent of it is eight hundred eighty." We need to convert this into a mathematical equation. 2. Let the unknown number be $x$. 3. "Twelve percent of it" means $0.12x$. 4. "One thousand less twelve percent of it" means $1000 - 0.12x$. 5. This expression equals eight hundred eighty, so we write the equation: $$1000 - 0.12x = 880$$ 6. This is the mathematical statement representing the problem.