 # COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES

• Slides: 37 COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES COMPAIRING QUANTITIES PERCENTAGE AND ITS APPLICATION ØIntroduction ØPer cent as a fraction and vice versa, Per cent as a decimal and vice versa, Per cent as a ratio and vice versa ØFinding the percentage of a given quantity ØExpressing one quantity as a percentage of another quantity ØFinding the increase or decrease percentage ØProfit and loss ØFinding discount ØSales tax/value added tax ØQuestion discussion ØChapter Test PERCENTAGE AND ITS APPLICATION ØIntroduction Ø(i) Definition : - The word per cent means per hundred or out of hundred , the symbol used for percent is “ %”. For example Mohit scored 90 marks out of 100 marks in exam , it means that Mohit scored 90% of marks. Ø(ii) Different situation where we use the concept of percent. Ø(iii) Relation between percent and fraction. Ø(iv) Relation between percent and decimal. Ø(v) Relation between percent and ratio. Ø(vi) Steps of percent related simplification. Ø(vii) Use of the concept of percent in day to day life. PERCENTAGE AND ITS APPLICATION Ø(i) Percent as a fraction – Percent can be express as a fraction with denominator 100, PERCENTAGE AND ITS APPLICATION Ø(ii) Percent as a decimal – Percent can be express as a decimal , simply we have to place decimal after two places from right. Ø For example – 20% means 0. 20 so 20% = 0. 20 and in the reverse way 0. 65 may be express as percent ( 0. 65 X 100)% = 65%. PERCENTAGE AND ITS APPLICATION Ø(iii) Percent as ratio - Percent can be express as a ratio. PERCENTAGE AND ITS APPLICATION PERCENTAGE AND ITS APPLICATION PERCENTAGE AND ITS APPLICATION PERCENTAGE AND ITS APPLICATION ØFollowing points were discussed in detail – Ø(i) Cost Price ( CP ) : – The price at which an article is purchased is called its cost price. Ø(ii) Selling Price ( SP ) : - The price at which an article is sold is called its selling price. Ø(iii) Gain or Profit : - When SP > CP , then there is a profit and Profit = SP – CP. PERCENTAGE AND ITS APPLICATION Ø(iv) Loss : - When CP > SP, then there is a loss and Loss = CP – SP. Ø(v) Sometimes when an article is bought, some additional expenses are made while buying or before selling it. These expenses have to be included in the cost price. These expenses are sometimes referred to as overhead charges. These may include expenses like amount spent on repairs, labour charges, transportation etc Ø 1 PERCENTAGE AND ITS APPLICATION Ø 2 PERCENTAGE AND ITS APPLICATION PERCENTAGE AND ITS APPLICATION Ø(i) Marked Price: - The price marked or printed on the article is called Marked Price ( MP). Ø(ii) Market Price or Actual Price : - The price in which an article is sell is called Market Price or Actual Price. PERCENTAGE AND ITS APPLICATION Ø(iii) Discount: - The reduction given on the Marked Price (MP) of the article is called Discount. This is generally given to attract customers to buy goods or to promote sales of the goods. You can find the discount by subtracting its sale price from its marked price. ØSo, Discount = Marked price – Sale price Ø(iv) Following formulae related to discount were discussed. Ø 1 PERCENTAGE AND ITS APPLICATION Ø 2 PERCENTAGE AND ITS APPLICATION PERCENTAGE AND ITS APPLICATION ØFollowing points were discussed in detailØ(i) Sales Tax : - (ST) This sales tax is charged by the government on the sale of an item. It is collected by the shopkeeper from the customer and given to the government. Ø(ii) Value Added Tax : - (VAT) This is, therefore, always on the selling price of an item and is added to the value of the bill. These days however, the prices include the tax known as Value Added Tax (VAT). PERCENTAGE AND ITS APPLICATION Ø(iii) Sales Tax (ST) and Value Added Tax (VAT) are added to the selling price of the article. If the sale involves any discount , then after subtracting the discount from Marked Price, the sales tax and VAT are added to the SP. In case there is no discount , then the sales tax and VAT are added to the MP. PERCENTAGE AND ITS APPLICATION Ø(iv) Example - Waheeda bought an air cooler for Rs 3300 including a tax of 10%. Find the price of the air cooler before VAT was added. ØSol: - The price includes the VAT, i. e. , the value added tax. Thus, a 10% VAT Ømeans if the price without VAT is Rs 100 then price including VAT is Rs 110. ØNow, when price including VAT is Rs 110, original price is Rs 100. ØHence when price including tax is Rs 3300, the original price = PERCENTAGE AND ITS APPLICATION Ø(v) Vishakha bought some medicine from a medical store as prescribed by her doctor for Rs. 562. 50 including 4% VAT, Find the price before the VAT was added. PERCENTAGE AND ITS APPLICATION ØFollowing questions from text book were discussed in detailØ(i) Find SP, when CP = Rs. 600, Loss= 12% Ø(ii) Find CP , When SP = Rs. 777. 69, gain = 8%. Ø(iii) Find gain or loss percent , when CP = Rs. 600 and SP = Rs. 800 PERCENTAGE AND ITS APPLICATION Ø(iv) If the CP of 10 greeting cards sis equal to SP of 8 greeting cards, find the gain or loss percent. Ø(v) Find discount , if MP = Rs. 9545 and SP = Rs. 8017. 80. Ø(vi) A colour TV is available for Rs. 26, 880, inclusive of VAT. If the original cost price of the TV was Rs. 24000, find the rate of VAT. Ø(vii) Find the single discount equivalent to two successive discounts 20% and 10%. A N Y QUESTION ?