In a pie chart representing the market share of four companies, Company A has 25
Practice Questions
Q1
In a pie chart representing the market share of four companies, Company A has 25%, Company B has 35%, Company C has 20%, and Company D has 20%. If the total market size is $1 million, how much does Company B earn?
$250,000
$350,000
$200,000
$200,000
Questions & Step-by-Step Solutions
In a pie chart representing the market share of four companies, Company A has 25%, Company B has 35%, Company C has 20%, and Company D has 20%. If the total market size is $1 million, how much does Company B earn?
Step 1: Understand that the total market size is $1 million.
Step 2: Identify that Company B has a market share of 35%.
Step 3: Convert the percentage into a decimal by dividing by 100. So, 35% becomes 0.35.
Step 4: Multiply the total market size by Company B's decimal share. This means you calculate $1,000,000 * 0.35.
Step 5: Perform the multiplication: $1,000,000 * 0.35 = $350,000.
