If a national event has a budget of $50,000 and 30% is allocated for marketing,

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Question: If a national event has a budget of $50,000 and 30% is allocated for marketing, how much money is allocated for marketing? (2020)

Options:

Correct Answer: $10,000

Exam Year: 2020

Solution:

Amount allocated for marketing = 30% of $50,000 = 0.30 * 50,000 = $15,000.

If a national event has a budget of $50,000 and 30% is allocated for marketing, how much money is allocated for marketing? (2020)

If a national event has a budget of $50,000 and 30% is allocated for marketing, how much money is allocated for marketing? (2020)

Step 1: Understand that the total budget for the event is $50,000.
Step 2: Know that 30% of the total budget is allocated for marketing.
Step 3: Convert the percentage (30%) into a decimal. To do this, divide 30 by 100, which gives you 0.30.
Step 4: Multiply the total budget ($50,000) by the decimal (0.30) to find the amount for marketing: 0.30 * 50,000.
Step 5: Calculate the multiplication: 0.30 * 50,000 = $15,000.
Step 6: Conclude that the amount allocated for marketing is $15,000.

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