katzzzz wrote:
For me, percentage questions seem time consuming ..not sure if I am the only one feel this way..
Dear
katzzzzOne reason why percentage questions may seem time consuming to you is that they usually have multiple data points (for example, the current question has earlier royalty, earlier sales, new royalty, new sales, the percentage change between earlier ratio of royalty:sales to new royalty:sales. That may seem quite a handful of quantities to track and tackle!
)
Here's an approach that I suggest to you for questions that seem to have lots of information:
Always go from the unknown to the known.By
Unknown, I mean what the question is asking.
By
known, I mean the given information.
Let me illustrate this approach here.
The question is asking about the % decrease in some ratio.
So, my first step is to let this % decrease be P.
So, I can write:
\(Later Ratio = (1 - \frac{P}{100})(Earlier Ratio)\)
Now, what is the Ratio being considered here? It is the ratio of 'Royalty to Sales'
So, the above equation becomes:
\(\frac{(Later Royalty)}{(Later Sales)} = (1 - \frac{P}{100})\frac{(Earlier Royalty)}{(Earlier Sales)}\)
Now the question is easy to solve. You simply substitute the values of earlier and later royalty, and earlier and later sales, and you get the value of P.
As you can see, this approach of going 'From Unknown to Known' gave us a sense of direction to wade through the given information.
I hope this helped.
Best Regards
Japinder
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