Symmetric Percentages: The Swap Rule - Quant Trader Interview Question
Difficulty: Easy
Category: Mental Math & Estimation
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Topics: mental-math, arithmetic, percentages, trading-math, basics
Problem Description
You are verifying the transaction costs on a block trade. The fee schedule stipulates a charge of 7% on a trade size of 50 units.
Calculating $0.07 \times 50$ usually requires a moment of pause. However, using the "Swap Rule" makes this instantaneous.
Calculate the result of:
$$
7\% \text{ of } 50
$$
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