Practice Quiz

ICE Special Agent Exam Prep

Category - Math - Hard

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If “basis points” are defined so that 1 percent is equal to 100 basis points, then 44.5 percent is how many basis points greater than 34.5 percent?
  1. 0.1
  2. 10
  3. 100
  4. 1000
Explanation
Answer: D -1 percent is equal to 100 basis points. 44.5 percent = 4450 basis points and 34.5 percent = 3450 basis points. Hence the difference = 1000 basis points.
Key takeaway: Percent literally means “per 100” or “out of 100”. 1 percent is equal to 100 basis points. This term is frequently used in banking to indicate changes in interest rates. 50 basis points means 1/ 2
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