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A trade agreement between two countries is expected to increase trade by 25%. If

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Question: A trade agreement between two countries is expected to increase trade by 25%. If the current trade volume is $200 million, what will be the new trade volume?

Options:

  1. $220 million
  2. $250 million
  3. $275 million
  4. $300 million

Correct Answer: $250 million

Solution: 

New trade volume = $200 million + (25% of $200 million) = $200 million + $50 million = $250 million.

A trade agreement between two countries is expected to increase trade by 25%. If

Practice Questions

Q1
A trade agreement between two countries is expected to increase trade by 25%. If the current trade volume is $200 million, what will be the new trade volume?
  1. $220 million
  2. $250 million
  3. $275 million
  4. $300 million

Questions & Step-by-Step Solutions

A trade agreement between two countries is expected to increase trade by 25%. If the current trade volume is $200 million, what will be the new trade volume?
  • Step 1: Identify the current trade volume, which is $200 million.
  • Step 2: Determine the percentage increase in trade, which is 25%.
  • Step 3: Calculate 25% of the current trade volume. This is done by multiplying $200 million by 0.25 (which is 25% in decimal form).
  • Step 4: Perform the multiplication: $200 million * 0.25 = $50 million.
  • Step 5: Add the increase ($50 million) to the current trade volume ($200 million).
  • Step 6: Calculate the new trade volume: $200 million + $50 million = $250 million.
  • Percentage Increase – Understanding how to calculate a percentage increase on a given value.
  • Basic Arithmetic – Applying addition and multiplication to solve for the new trade volume.
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