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Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Olutola88(m): 9:09am On Jul 21, 2014 |
paranorman: Out of the total money on her, Kelly took 20% off with her and left over the rest at home on her way to the market. On getting to the market, she saw a radio she liked but found out its price (initial) on its manufacturer's list was 25% higher than what she took to the market. So she thought she could work something out with the seller but was disappointed when told the list got old, prices were adjusted due to inflation and the radio could only be sold at a price which was 50% of her left-over at home; this price was a mark-up of 14 whole and 2/7 % on the original price the seller should have sold it and make a decent profit.Let me be frank with you, this is not how to set questions. The composition of your question lacks clarity. If one calculates with a particular understanding, he'll get 15%, anoda understanding can make one arrive @ 12.5% for the 1st question but you muddled everything up by saying INITIAL PRICE, ORIGINAL PRICE & PRICE TO HAVE MADE DECENT PROFIT. The truth is that; the question is very very simple but you introduced ambiguity. This is not word problem sir, YOU ARE THE PROBLEM! 3 Likes |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by benswagtt(m): 9:22am On Jul 21, 2014 |
adextetoo: Sits and watching for somebody to finish so that I can dub/copyme 2... |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Tinkybabe(f): 9:47am On Jul 21, 2014 |
McWhillion: Q1 Thanks for the compliment But I quite disagree with your no 2, no doubt the Op is the cause of this problem because of the great ambiguity of the question Anyway, here go..I disagree both grammatically and logically 1) For clarity sake- let's use "increase" instead of markup. If he meant the final price , it would have been phrased as marked up price ie increased price not increase price /price increase. Price increase refers to the amount of money added to the original to arrive at the final price. 2) If we are to go with your claim, expressing the final price as a percentage of profit made defies business reasoning . This is because your profit is the difference between the cost and selling price and making the mark up priceyour final price to get percentage profit means the total selling price is a profit and we know this isn't true. |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Chriselvis: 9:50am On Jul 21, 2014 |
Very sharp question bt i no get tyme |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 9:57am On Jul 21, 2014 |
CarlOzeki: The easiest and quickest way to solve the question is to pick a number this is the answer!!! You just won urself 'diamonized' gold! I just kept laughin when some people quotin me sayin the question is ambiguous... Hehehe. For the first, the question is clear. Its 10; a percentage of the total.(the question reads "out of the TOTAL MONEY on her) And for the second question, INSUFFICIENT DATA. Glad there are people like you! This question is as simple as ABC. Grammer and story killed most of'em! |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 10:10am On Jul 21, 2014 |
For those people talkin the question is ambiguous; 'm sorry. 'twas actually designed that way to test ur verbal skills and reasonin skills. The prices were explicitly stated; no hitch. For example, even though 'original' and 'initial' may mean the same tin esp in science; maths, phy and chem in calulations, they do not mean the same literally. 'initial' price was stated, and 'original' price was also stated separately... When you read it carefully and assimilate, you'd know there realy aint no ambiguity as most of y'all think. Over-confidence killed some. Kudos to those that attempted it, its nice workin up ur brain. Work up that brain! Another question coming soon! |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 10:21am On Jul 21, 2014 |
Tinkybabe:i like ur method.. I understand why the question looked ambiguous to folks here but 'mma work on that in the future. Read my posts on page 3 |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by DONADAMS(m): 10:24am On Jul 21, 2014 |
C mathematicians err'wher...i'll b 1 sumday |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Micron21(m): 11:06am On Jul 21, 2014 |
1. 255.3083% 2. question is somehow |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by joshphorlarb: 11:16am On Jul 21, 2014 |
2) 320% |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Nobody: 11:36am On Jul 21, 2014 |
if y = cash in hand let z = cash at home the first price charged is 25%(y) second price is 50%(z) erm what was the question again?? |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 11:40am On Jul 21, 2014 |
Olutola88: Let me be frank with you, this is not how to set questions. The composition of your question lacks clarity. sir, there's nothing ambiguous about the question. The prices were explicitly stated. Price on the manufacturer's list was dubbed 'initial' and 'original' price was the price the seller would ve sold it had he not try to cheat by markin up the price. So my friend, read and assimilate. Over-confidence kills atimes. Though, i understand why many think the question is ambiguous, it would help if you 'just follow the bouncing ball!' for the first question, the correct answer is 10%. For any other doubts or arguments, check page 3 of this thread and read my comments/quotes. Thanks for attemptin and ur observation. |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 11:50am On Jul 21, 2014 |
wallex1983: Its 10%. The prices were explicitely defined. read my quotes and posts on page 3 of the thread. |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 12:08pm On Jul 21, 2014 |
UchihaMadara: i got you bro. But in english, 'initial' do not mean the same tin as 'original', does it? Hehehe. Read and assimilate. Ur prob with this question is simply grammer. N40 is the mark-up price (114whole, 2/7% of the original price which is N35) he WOULD have sold it and make decent profit. Did he sell it?! Nope. This is an assuming statement here; its conditional. And for the prices, the 'initial' and 'original' prices were explicitely defined. Reead up my posts on page 3 |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by paranorman(m): 12:10pm On Jul 21, 2014 |
kobonaire: Let's say Kelly initially had x Naira. So if she too 20% then read up me posts on page 3 |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Vengeance: 12:24pm On Jul 21, 2014 |
Let total money = x Let initial price radio = IP Let original price radio = OP Let money taken to market = MM Let money left at home = MH Let final radio price = FRP Let markup price = MP = [14 2/7% of OP] Let total profit = TP = FRP - IP Kelly took 20% of x to market = MM = 0.2x IP is 25% higher than MM = (25% MM + MM) = ([0.25 X 0.2x] + 0.2x) = 0.25x FRP = 50% of MH MH = x - MM = x - 0.2x = 0.8x FRP = 50% 0.8x = 0.4x FRP = ([14 2/7% of OP] + OP) = 100/7% of OP + OP = OP/7 + OP = 8OP/7 FRP = 0.4x = 8OP/7 => OP = 2.8x/7 = 0.35x Therefore, 1) difference between OP and IP = 0.35x - 0.25x = 0.10x = [0.10x / x] X 100% = 10% of x (answer #1) 2) MP = [14 2/7% of OP] = OP/7 = 0.35x/7 = 0.05x (or FRP - OP = 0.4x - 0.35x = 0.05x) Total Profit = TP = FRP - IP = 0.4x - 0.25x = 0.15x Since MP = 0.05x, => TP = 0.15x / 0.05x X 100% = 300% of MP; And MP = 33.33...% of TP (answer #2) |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Nobody: 12:37pm On Jul 21, 2014 |
for more question check Education there is a simple math there with the topic 'solve this simple mathematics if you are smart |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Nobody: 12:40pm On Jul 21, 2014 |
paranorman: Out of the total money on her, Kelly took 20% off with her and left over the rest at home on her way to the market. On getting to the market, she saw a radio she liked but found out its price (initial) on its manufacturer's list was 25% higher than what she took to the market. So she thought she could work something out with the seller but was disappointed when told the list got old, prices were adjusted due to inflation and the radio could only be sold at a price which was 50% of her left-over at home; this price was a mark-up of 14 whole and 2/7 % on the original price the seller should have sold it and make a decent profit.check EDUCATION you will the my question with the topic 'solve this simple mathematics if you are smart' |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by fxjones(m): 12:45pm On Jul 21, 2014 |
no 1. 15% no 2. 25% Calculation breakdown Let money at home be X money taken to the market = 20% of X = X/5 Balance left at home = X-X/5 = (5X-X)/5 = 4X/5 Initial price of radio = 25% > amount taken to market hence Initial price. = (25/100*X/5)+X/5 = X/4 New price due to inflation = 50% of balance at home = (50/100*4X/5) =2X/5 Difference in price = 2X/5- X/4 = 3X/20 hence % of mark up price to buyer's total amount = 3X/20)/X*100% = 3X/20*1/X*100= 3X/20X*100 = 300X/20 = 15% % of mark up price to the total profit is : First what is the total profit obtainable from the sale? recall: Profit= Sp-Cp but Sp = original price = 2X/5 since Cp is unknown assume Cp = X profit = X- 2X/5 = 3X/5 mark up price is simply difference in initial price and new price = 3X/20 % mark up to total profit = (3X/20)*5/3X*100 = 25% |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by bone1990(m): 1:01pm On Jul 21, 2014 |
paranorman: No 1 is 10percent.. No 2 can't be solved becos we know not the cost price |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Solchizzy(m): 1:27pm On Jul 21, 2014 |
Onlinebizexpert: Bros you see any isaac newton for nairaland?how much u go pay me make i ansa am?. cos genius answer dnt come 4 free |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by McWhillion(m): 1:44pm On Jul 21, 2014 |
Tinkybabe: Like you said, the question might be in the wrong and the solution i provided defies logical reasoning but then there is nothing like "marked" up price, what i know is "markup" price. Pay attention to how its written "markup" not "mark up", its a word on its own derived from two other words. So in a way it does not concur to the same rule behind "increase" and "increased". I believe if it is to be written in its past tense it would be "markuped" and you would agree that there is no word like this. Again, your solution is only logical but not factual according to the question(if we agree to stay true to its content). You're logically right but factually wrong. 1 Like |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Malawian(m): 1:52pm On Jul 21, 2014 |
paranorman: Out of the total money on her, Kelly took 20% off with her and left over the rest at home on her way to the market. On getting to the market, she saw a radio she liked but found out its price (initial) on its manufacturer's list was 25% higher than what she took to the market. So she thought she could work something out with the seller but was disappointed when told the list got old, prices were adjusted due to inflation and the radio could only be sold at a price which was 50% of her left-over at home; this price was a mark-up of 14 whole and 2/7 % on the original price the seller should have sold it and make a decent profit.una just wan push person go sell gala |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Mustapha111888(m): 2:12pm On Jul 21, 2014 |
paranorman:I recommeds this question to Godwin (CBN governor) |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by adanny01(m): 2:26pm On Jul 21, 2014 |
Tinkybabe: Let's assume she left home with t(20% of total money) Yours is the most simple straight forward of all solutions i have seen. Its perfect for me. The op seems to also get it wrong for accepting as correct 12.5% for the answer while his question refered to the percentage of the total amount kelly had which is 10%. The right answer is 10% not 12.5 as the op accepted. The second question is where you didnt take the question for what it is, although still ambigious. I understand that question is off for asking 'what percentage of the profit is the markup price' while you answered 'what percentage of the markup price is the profit' or 'percentage of profit in the markup price'. The two just as i bolded are not the same but an exact opposite of each other . Your answer suits logical thinking making the original question faulty. Logically, the op should have asked 'what percentage of the markup price is the profit' but did it the other way round. |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by adanny01(m): 2:38pm On Jul 21, 2014 |
McWhillion: I agree with you, your solution defies logical reasoning but gives the direct answer to the question asked while she used logical reasoning to rephrase and answer the question. Back in those school days, 2 lecturers made a similar mistake which brought serious confusion in the exam hall. The first case, the lecturer was called to the hall and he saw it and made the correction while the other who was unavailable at the time had to mark as correct from that step which ever way you went. |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by panpan(m): 3:00pm On Jul 21, 2014 |
total money = 100 kelly took 20 initial price = 20 plus (25% of 20) = 20 + 5 = 25 mark-up price = 50% of her left over at home = 50% of 80 = 40 14 + 2/7 = 100/7 mark-up price = [(100 + (100/7))/100] x original price 40 = [(100 + (100/7))/100] x original price therefore original price = 40/[(100 + (100/7))/100] = 35 1. The difference between the original price and the initial price = 35 - 25 = 10 that is, 10% of the total money Kelly had. 2. The percent of the profit of the mark-up price = [((mark-up price) - (initial price))/(initial price)] x 100 = [(40 - 25)/25] x 100 = [15/25] x 100 = 60% Answers (1) 10% (2) 60% |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by ncpat(m): 3:44pm On Jul 21, 2014 |
@ poster check the circled figures I think something is wrong here.
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Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by akpanikpe(m): 4:35pm On Jul 21, 2014 |
ayukdaboss:Check what u wrote on your signature dude, you don't even know me so please don't embarrassed your self. |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by zivility: 4:59pm On Jul 21, 2014 |
15% ans |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Tinkybabe(f): 5:12pm On Jul 21, 2014 |
McWhillion: adanny01: Thanks guys! Get it now |
Re: Not For The Weak Minds; Try This Quantitative Reasoning Question. by Appswheel(m): 5:39pm On Jul 21, 2014 |
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