A quick mental-arithmetic check on a million

Question

What is one per cent of one million?

Short answer

$10{,}000$ . One per cent means dividing by $100$ , and $1{,}000{,}000/100=10{,}000$ . These quick checks test composure; answer instantly and correctly rather than overthinking.

Adapted from Crack, Heard on the Street, Q5.5.22, p.55; question and answer rewritten by SelfMadeQuant.com.

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