In a quiz competition, the first prize is $500, the second prize is $300, and th
Practice Questions
Q1
In a quiz competition, the first prize is $500, the second prize is $300, and the third prize is $200. If the total prize money is $1000, what percentage of the total prize money does the first prize represent? (2019)
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Questions & Step-by-Step Solutions
In a quiz competition, the first prize is $500, the second prize is $300, and the third prize is $200. If the total prize money is $1000, what percentage of the total prize money does the first prize represent? (2019)
Step 1: Identify the amount of the first prize, which is $500.
Step 2: Identify the total prize money, which is $1000.
Step 3: To find the percentage, use the formula: (first prize / total prize money) * 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 0.5 by 100 to get the percentage: 0.5 * 100 equals 50.
Step 7: Conclude that the first prize represents 50% of the total prize money.
