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A student receives a trophy that costs $250. If the trophy is later valued at 12

Practice Questions

Q1
A student receives a trophy that costs $250. If the trophy is later valued at 120% of its original price, what is the new value?
  1. $300
  2. $250
  3. $275
  4. $325

Questions & Step-by-Step Solutions

A student receives a trophy that costs $250. If the trophy is later valued at 120% of its original price, what is the new value?
  • Step 1: Understand that the original price of the trophy is $250.
  • Step 2: Know that 120% means 120 out of 100, or 1.2 in decimal form.
  • Step 3: To find the new value, multiply the original price by 1.2.
  • Step 4: Calculate 1.2 times $250, which is 1.2 * 250.
  • Step 5: Perform the multiplication: 1.2 * 250 = $300.
  • Step 6: Conclude that the new value of the trophy is $300.
  • Percentage Calculation – Understanding how to calculate a percentage of a given value.
  • Value Appreciation – Recognizing how the value of an item can increase based on a percentage increase.
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