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Carbon-14 Dating calculator. Enter the percentage of Carbon-14 and get the age of the bone. The formula for radioactive decay is important in radiocarbon dating, which is used to calculate the approximate date a plant or animal died. Radiocarbon dating was discovered in 1949 by Willard Libby, who won a Nobel Prize for his discovery. Boni Calc helps Biology students calculate the age of a bone/plant using Radiocarbon Dating. It is based on the formula for radioactive decay: t= ln(r)/-0.000121 You just enter the percentage of Carbon-14 that the bone/plant contains and press the AGE button.