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If a national event has a budget of $500,000 and 40% is allocated for marketing,

Practice Questions

Q1
If a national event has a budget of $500,000 and 40% is allocated for marketing, how much is allocated for marketing? (2023)
  1. $200,000
  2. $250,000
  3. $300,000
  4. $150,000

Questions & Step-by-Step Solutions

If a national event has a budget of $500,000 and 40% is allocated for marketing, how much is allocated for marketing? (2023)
  • Step 1: Identify the total budget for the national event, which is $500,000.
  • Step 2: Determine the percentage allocated for marketing, which is 40%.
  • Step 3: Convert the percentage into a decimal by dividing by 100. So, 40% becomes 0.40.
  • Step 4: Multiply the total budget by the decimal to find the marketing allocation: 0.40 * 500,000.
  • Step 5: Calculate the result of the multiplication, which is $200,000.
  • Percentage Calculation – Understanding how to calculate a percentage of a total amount.
  • Budget Allocation – Interpreting budgetary figures and their distribution across different categories.
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