In a competition, the first prize is $500, the second prize is $300, and the thi
Practice Questions
Q1
In a competition, the first prize is $500, the second prize is $300, and the third prize is $200. If the total amount awarded is $1000, what percentage of the total amount does the first prize represent? (2019)
50%
40%
30%
20%
Questions & Step-by-Step Solutions
In a competition, the first prize is $500, the second prize is $300, and the third prize is $200. If the total amount awarded is $1000, what percentage of the total amount does the first prize represent? (2019)
Step 1: Identify the amount of the first prize, which is $500.
Step 2: Identify the total amount awarded in the competition, which is $1000.
Step 3: To find the percentage of the total amount that the first prize represents, use the formula: (first prize amount / total amount) * 100.
Step 4: Substitute the values into the formula: (500 / 1000) * 100.
Step 5: Calculate the division: 500 divided by 1000 equals 0.5.
Step 6: Multiply the result by 100: 0.5 * 100 equals 50.
Step 7: Conclude that the first prize represents 50% of the total amount awarded.
