The quant and reasoning section of the competitive exam, checks the ability of the students by testing their logical, quantitative, and critical problem-solving skills, which are essential in the business and management world. Percentage is used widely in our daily lives, from calculating the marks of the students to discount on footwear or eatables. Even in your smartphone, the battery shows with the sign of the percentage. In this article, we will delve deeper to know the percentage formula, along with sample questions related to percentage for better understanding of students.
Understanding the Concept: Percentage
Percentage is used to find the share in terms of 100. The percentage formula is given as-
|Percentage = (Value ⁄ Total Value) × 100|
For better understanding, let’s understand the application of percentage formula, through an example:
Example: Find 75% of 10.
Solution: =75/100 10
Questions of Percentage framed in the Competitive Examination
Given below is a list of type of questions framed in the quantitative section in a competitive exam from percentage, including: how to calculate the percentage of a value, calculating percentage change, turning decimals into fractions, and calculating compound interest.
Ques 1: Express ⅝ as percentage.
Solution1: 520= 55/205
= 25/100 = 25%
Percentage Formula: Question related to Percent Change–
|Percent Change= (Amount of Change/Starting Amount) 100|
Ques2: The price of refurbished sofa changes from Rs 2,000 to Rs 2,500 and you have to calculate the percent increase.
Solution 2: Change of the amount= Rs 2,500 – Rs 2,000 = Rs 500
Now as given in the question, the starting price of the refurbished sofa was Rs 2,000. So,
Percent change = (500/2000)100 = 25%
Percentage Formula: Question related to Percentage Error-
|% Error = Error/ Real Value 100|
Ques 3: Neha measures the length of her textbook as 15cm. If the length is actually 12cm, what is the percentage error in Neha’s calculation?
Ans 3: Given,
Length of the textbook measured by Neha = 15cm
Actual length of the textbook = 12cm
% Error = Error / Real Value100
Percentage Formula: Question related to Original Value-
|Original Value = New Value / 100 + % change 100|
Ques 4: Sukhdev buys a stamp collection and makes a 45% profit by selling it for Rs 3,500. Find the cost of the collection. It is the original value we wish to find, so the above formula is used.
Ans 4: Given,
Profit earned by Sukhdev by selling stamp collection = 45%
Sale Price = Rs 3,500
Original Value = (New Value/100 + %change)100
= 25.925 %
Percentage Formula: Question related to Percentage Increases and Interest-
|New Value = 100 + % increase / 100 Original Value|
Ques 5: Rs 5,00,000 is put in a bank where there is 8% per annum interest. Work out the amount in the bank after 1 year.
Ans 5: Given,
Amount deposit in the bank = Rs 5,00,000
Rate of Interest = 8%
New Value = 100 + % increase / 100 Original Value
= (100 + 8/ 100) 5,00,000
= 108/100 5,00,000
= Rs 5,40,000
Hence, the article has listed down some of the important percentage formulas, which are generally used by students in solving percentage related questions in competitive exams.