Monday, 3 April 2017

Percentage Problems for IBPS PO Exam - Part II

percentage problems
One of the topics that we are sure to find questions from in any bank exam is percentage. Take a quick look at what percentage is and understand its basic concepts.

TalentSprint has identified 18 unique types of percentage related questions that have appeared in the last 10 years in both SBI bank exams and IBPS PO bank exams. This is the second part of the series. The first three models have already been discussed. Let us now understand the next two models of percentage questions for bank exams.

Also discussed are the smart methods by which we can solve the questions without wasting too much of time.

Model 4: An important percentage-related concept to understand is to find x is what percentage of y

This model frequently is seen in problems related to data interpretation.
percentage problems
To understand it better, remember that the value that appears after the word 'of' is to be always taken as the denominator. As underlined in the formula, y appears immediately after the word 'of', which is why it the denominator in the 3 variations shown above.

Example 1: In an examination, Ramesh scored 30% less than Suresh and Mahesh scored 20% less than Suresh. Ramesh’s score is what percentage of Mahesh’s score?

Solution:
Let's assume;
Ramesh’s score = x
Mahesh’s score = y
And since Ramesh’s score and Mahesh’s score is compared to Suresh’s, let’s take Suresh’s score to be the reference;
Suresh’s score = 100%


Ramesh’s score = 100% - 30% = 70%
Mahesh’s score = 100% - 20% = 80%

Ramesh’s score/Mahesh’s score * 100
70%/80% * 100 = 7/8 * 100

By implying fractions as a percentage, we must be able to know that 7/8 * 100 = 87.5%


Model 5: Let us learn how to find that a given value is what percentage less or more than some other value

This model is also frequently asked in questions related to data interpretation.
percentage problems
When the solution is in negative, it is to be understood that x is less than y. And similarly, when the answer derived using the formula above is in positive, it means that x is more than y.

Point to remember:
When the question says x is what percentage more or less than y, it is a clear comparison to the value of y. Which is why y will always be the denominator.

To remember it simply, the value that appears after the word “than” would be taken as the denominator, as underlined in the formula above.

Example 1: If A’s salary is 25% more than B’s salary, then by what percentage is B’s salary less than A’s salary?

Solution: Before we begin to solve this, let us first clarify one of the most common errors committed.
Percentage problems
As is the case in actual values where (A = B + 25) = (B = A – 25), 
In percentages, A is 25% more than B ≠ B is 25% less than A
percentage problems
Please understand that we assume B to be 100 for the ease of calculation, but if you were to take B = 200 (or any other value) and calculate accordingly, the answer will always be 20% in this case.

SMART METHOD:

The same question can be solved in a ‘smart’ method that saves time in competitive exams such as SBI PO exam and IBPS PO exam, since time is of the essence here.

Smart Method 1: How to solve this percentage problem with fractions;
Smart Method 2: How to solve this percentage problem with fractions in the Smart Method;

Let us understand the question in terms of fractions. One percentage has been provided and we are required to find out another percentage.

The percentage given is 25%
Expressed in fractions, 25% = 1/4

Now, we need to find out by what percentage is B’s salary less than A’s salary?
Since our answer would be a value less than that of the given value, the fraction below must be decreased in value.
percentage problems
There are 3 ways to decrease the value of any given fraction,
  1. To decrease the numerator
  2. To increase the denominator
  3. To decrease the numerator AND increase the denominator

Trick is to not alter the numerator. To be able to decrease the value of the fraction without decreasing the numerator, we must increase the denominator.
percentage problem
By following this smart method, aspirants can solve such questions without even putting the pen to paper, hence, saving some precious few seconds during the exam.

Similarly, the process would be reversed if the question was altered to:
If A’s salary is 25% less than B’s salary, then by what percentage is B’s salary more than A’s salary?

The fraction must be increased in value, which would require us to decrease the denominator.
percentAGE problem
One piece of advice to all students is to remember the basic concept but follow the smart method in the exams. 

Example 2: The sales of company N is 40% less than that of company T. By what percent is the sales of company T more than that of N?

Solution:
By the Smart method:
We are required to find by what percent is the sales of T more than that of N.

Hence, if N is 40% less than T, then, T is 66.66% more than that of N.

In the next and the final installment of this series, we would take you through a few more complex concepts regarding percentages. Percentage problems in bank exams would seldom be straightforward. Which is why it is very important to keep solving percentage problems with the smart methods to stay on top of the game!
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