If a national event has a budget of $500,000 and 25% is spent on marketing, how

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Question: If a national event has a budget of $500,000 and 25% is spent on marketing, how much is spent on marketing? (2023)

Options:

Correct Answer: $125,000

Exam Year: 2023

Solution:

Amount spent on marketing = 25% of 500,000 = 0.25 * 500,000 = $125,000.

If a national event has a budget of $500,000 and 25% is spent on marketing, how much is spent on marketing? (2023)

If a national event has a budget of $500,000 and 25% is spent on marketing, how much is spent on marketing? (2023)

Step 1: Identify the total budget for the national event, which is $500,000.
Step 2: Determine the percentage of the budget that is allocated for marketing, which is 25%.
Step 3: Convert the percentage into a decimal for calculation. 25% as a decimal is 0.25.
Step 4: Multiply the total budget by the decimal to find the amount spent on marketing: 0.25 * 500,000.
Step 5: Calculate the result of the multiplication: 0.25 * 500,000 = $125,000.
Step 6: Conclude that the amount spent on marketing is $125,000.

Percentage Calculation – Understanding how to calculate a percentage of a total amount.