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If a student received an award worth $500 and the award was increased by 20%, wh

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Question: If a student received an award worth $500 and the award was increased by 20%, what is the new value of the award?

Options:

  1. $600
  2. $550
  3. $500
  4. $650

Correct Answer: $600

Solution: 

New value = 500 + (20/100 * 500) = 500 + 100 = $600.

If a student received an award worth $500 and the award was increased by 20%, wh

Practice Questions

Q1
If a student received an award worth $500 and the award was increased by 20%, what is the new value of the award?
  1. $600
  2. $550
  3. $500
  4. $650

Questions & Step-by-Step Solutions

If a student received an award worth $500 and the award was increased by 20%, what is the new value of the award?
  • Step 1: Start with the original value of the award, which is $500.
  • Step 2: Calculate 20% of the original value. To do this, multiply 500 by 20/100.
  • Step 3: 20% of $500 is $100 (because 500 * 0.20 = 100).
  • Step 4: Add the $100 increase to the original award value of $500.
  • Step 5: The new value of the award is $600 (because 500 + 100 = 600).
  • Percentage Increase – Understanding how to calculate a percentage increase on a given value.
  • Basic Arithmetic – Applying addition and multiplication to find the new value after the increase.
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