Promotional and selling activities account for $52.50 of the price of a $700 item. What percent is that?

52.50 divided by 700 = 0.075

0.075 multiply by 100 = 7.5 (Answer)

I took the test and got it right!

We are given : Promotional and selling activities account value = $52.50.

The actual price = $700.

52.50 of $700 could be written in fraction form as

52.50/700.

If we divide 52.70 by 700, we get a decimal value 0.075.

In order to convert it into percentage, we need to multiply that decimal number we got, by 100.

On multiplying 0.075 by 100, we get

0.075 * 100 = 7.5.

Therefore, $52.50 of $700 is 7.5%