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Praxis II Mathematics Content Knowledge Exam Prep

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Last year, Smith’s Auto Shop made gross revenue of $460,000. This year, their gross revenue increased significantly, by an amazing 25%. What was the gross revenue this year?

  1. $525,000
  2. $550,000
  3. $560,000
  4. $575,000
  5. $585,000
Explanation

Answer: D - To find 25% of a given number, simply halve the number, then halve it again. In this example, half of 460,000 is 230,000, then half of 230,000 is 115,000. Therefore, 25% of $460,000 is $115,000. Add $115,000 to the original $460,000 to find the gross revenue for the year - $575,000.

Key takeaway: It is helpful to know shortcuts for mentally calculating certain percentages. To find 10% of a number, drop the last digit. To find 20% of a number, drop the last digit, and double the resulting number. To find 25% of a number, halve the number twice.

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