Answer
There are 50 calories in an $8-oz$ serving of the Cranberry Juice Drink.
Work Step by Step
Typical percentage problem:
What percent ($n$, as a decimal number) of (the base amount $y$) is $x?$
Translated:$\quad n\cdot y=x$
---
Here, What percent ($ n=240\%$) of ($y=?$) is ($x=120$)$?$
Translated:$\quad 2.4\cdot y=120$
... divide with $2.4$
$y=50$