Deadly Disease
There is a rare but very serious disease which is usually fatal for those who contract it. It is known to affect about 1 person out of every 100,000.
However, a recently developed test is 99% accurate at determining whether or not an individual has it.
You take the test, and it returns a positive result to the existence of the disease.
What is the probability that you do actually have the disease?

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Comments
Here's my crack at this...
i.e. The probability that I have the disease, given that the test says so, is 0.099%.
To express it narratively, if 10,000,000 took the test then:
So there would be 99,999+99 = 100098 positive results per 100 people who actually had it, and the probability that positive result means you actually have it = 100 / 100098 = 0.0999021%
This is almost identical to your answer, Nima. It would be identical if the first 99 in your expression was changed to 100.
Actually when I first posed this question, I was thinking 0.1% would have been an acceptably accurate answer. Thanks for making things a bit more rigorous!