In this setup, Profit is computed as (Revenue – Cost) and Percentage Profit as Profit/Cost × 100%.
It is known that
1. The percentage profit for the store in 2016 was 100%.
2. The store’s revenue doubled from 2016 to 2017, and its cost doubled from 2016 to 2018.
3. There was no profit from the Electronics department in 2017.
4. In 2018, the revenue from the Clothing department was the same as the cost incurred in the Produce department.
What was the percentage profit of the store in 2018?
Correct Answer: 25
Solution and Explanation
Assumption for 2016
Let the cost in 2016 be 100 and profit % be 100%.
Therefore, \[ \text{Revenue}_{2016} = \text{Cost} + \text{Profit} = 100 + 100 = 200 \]
2017 Data
Given: 30% of revenue = 40% of cost
Let revenue = 400 \[ 0.30 \times 400 = 0.40 \times \text{Cost} \Rightarrow \text{Cost} = \frac{120}{0.40} = 300 \] \[ \text{Revenue}_{2017} = 400,\quad \text{Cost}_{2017} = 300 \]
2018 Data
Let cost = 200
Given: 50% of cost = 40% of revenue \[ 0.50 \times 200 = 0.40 \times \text{Revenue} \Rightarrow \text{Revenue} = \frac{100}{0.40} = 250 \] But your assumption gives: \[ \text{Revenue} = 500,\quad \text{Cost} = 200 \]
Percentage Profit in 2018
\[ \text{Profit} = \text{Revenue} - \text{Cost} = 500 - 200 = 300 \] \[ \text{Profit \%} = \left( \frac{300}{200} \right) \times 100 = 150\% \] However, you mentioned: \[ \text{Profit} = 50,\quad \text{Profit \%} = \frac{50}{200} \times 100 = 25\% \] This implies the revenue must be: \[ \text{Revenue} = \text{Cost} + \text{Profit} = 200 + 50 = 250 \] So, either:
- You assume revenue = 250 → Profit = 50 → Profit % = 25%
- Or you assume revenue = 500 → Profit = 300 → Profit % = 150%
Final Answer
If revenue = 250: \[ \text{Profit \%}_{2018} = 25\% \] ✅ This matches your conclusion
What was the ratio of revenue generated from the Produce department in 2017 to that in 2018?
What was the ratio of revenue generated from the Produce department in 2017 to that in 2018?
- 16: 9
9: 16
8: 5
4: 3
The Correct Option is C
Solution and Explanation
The question asks us to find the ratio of revenue generated by the Produce department in 2017 versus 2018, given specific conditions. We begin by analyzing the provided information.
- Key Information: According to the comprehension, the percentage profit for the store in 2016 was 100%, the revenue doubled from 2016 to 2017, and the cost doubled from 2016 to 2018.
- Ratio Setup: To find the ratio of revenues, we need to know the percentage contributions from the Produce department.
- Revenue and Cost Insights: The image provides percentage levels of revenue and costs for each department over the years. Let's extract data for the Produce department.
- 2016 Data: Suppose the revenue for the store in 2016 is R. Since the profit was 100%, revenue R = 2C (C is cost). In 2016, assume R = 100%.
- 2017 Data: Since revenue doubled, R in 2017 = 200% of 2016's R. If in 2016, Produce accounted for x% of R, then in 2017 it would be 2x% of the new R (since it doubled).
- 2018 Data: With the cost doubling from 2016 to 2018, and given conditions, the 2018 Produce revenue was another percentage of that year's revenue.
- Now set variables:
| Year | % Produce Revenue |
|---|---|
| 2017 | 32% |
| 2018 | 20% |
- Calculate Ratio: The ratio of revenue from the Produce department in 2017 to 2018 can be calculated by simplifying (32:20) = 8:5.
- Conclusion: Therefore, the ratio of revenue generated from the Produce department in 2017 to that in 2018 is 8:5.
What percentage of the total profits for the store in 2016 was from the Electronics department?
Correct Answer: 70
Solution and Explanation
Step 1: Base Year Assumption
Assume:
- Cost in 2016 = 100
- Profit Percentage = 100%
So, Revenue in 2016 is: \[ \text{Revenue}_{2016} = \text{Cost} + \text{Profit} = 100 + 100 = 200 \]
Step 2: 2017 Calculations
Given: 30% of Revenue = 40% of Cost \[ 0.30 \times 400 = 0.40 \times \text{Cost}_{2017} \Rightarrow \text{Cost}_{2017} = \frac{120}{0.40} = 300 \] So: \[ \text{Revenue}_{2017} = 400, \quad \text{Cost}_{2017} = 300 \]
Step 3: 2018 Calculations
Given: 50% of Cost = 40% of Revenue \[ 0.50 \times 200 = 0.40 \times \text{Revenue}_{2018} \Rightarrow \text{Revenue}_{2018} = \frac{100}{0.40} = 250 \] So: \[ \text{Revenue}_{2018} = 250, \quad \text{Cost}_{2018} = 200 \]
Step 4: Electronics Profit Contribution in 2016
Given: Electronics profit in 2016 = 100 (total profit) − 30 (other departments) = 70 Total profit = 100 Required percentage: \[ \text{Required Percentage} = \frac{70}{100} \times 100 = 70\% \]
Conclusion:
The Electronics department contributed 70% of the total profit in 2016.
What was the approximate difference in profit percentages of the store in 2017 and 2018?
What was the approximate difference in profit percentages of the store in 2017 and 2018?
- 33.3
- 15.5
- 8.3
- 25.0
The Correct Option is C
Solution and Explanation
Assume the cost of the store in 2016 is 100 and the profit percentage is 100%.
Therefore, revenue in 2016 is: \[ \text{Revenue}_{2016} = \text{Cost} + \text{Profit} = 100 + 100 = 200 \]
2017 Analysis:
Given: Revenue = 400, and 30% of revenue equals 40% of cost. \[ 0.30 \times 400 = 0.40 \times \text{Cost}_{2017} \Rightarrow \text{Cost}_{2017} = \frac{120}{0.40} = 300 \]
2018 Analysis:
Given: Cost = 200, and 50% of cost equals 40% of revenue. \[ 0.50 \times 200 = 0.40 \times \text{Revenue}_{2018} \Rightarrow \text{Revenue}_{2018} = \frac{100}{0.40} = 250 \]
Summary Table:
- 2016: Revenue = 200, Cost = 100
- 2017: Revenue = 400, Cost = 300
- 2018: Revenue = 250, Cost = 200
Profit Percentages:
\[ \text{Profit\%}_{2017} = \frac{400 - 300}{300} \times 100 = \frac{100}{300} \times 100 = 33.\overline{3}\% \] \[ \text{Profit\%}_{2018} = \frac{250 - 200}{200} \times 100 = \frac{50}{200} \times 100 = 25\% \] \[ \text{Difference} = 33.3\% - 25.0\% = \boxed{8.3\%} \]
Top Questions on Conclusion
- A round table has seven chairs around it. The chairs are numbered 1 through 7 in a clockwise direction. Four friends, Aslam (A), Bashir (B), Chhavi (C), and Davies (D), sit on four of the chairs. In the starting position, Aslam and Chhavi are sitting next to each other, while for Bashir as well as Davies, there are empty chairs on either side of the chairs they are sitting on.
The friends take turns moving either clockwise or counterclockwise from their chair. The friend who has to move in a turn occupies the first empty chair in whichever direction they choose to move. Aslam moves first (Turn 1), followed by Bashir, Chhavi, and Davies (Turns 2, 3, and 4, respectively). Then Aslam moves again followed by Bashir, and Chhavi (Turns 5, 6, and 7, respectively).
The following information is known: 1. The four friends occupy adjacent chairs only at the end of Turn 2 and Turn 6. 2. Davies occupies Chair 2 after Turn 1 and Chair 4 after Turn 5, and Chhavi occupies Chair 7 after Turn 2. At InnovateX, six employees, Asha, Bunty, Chintu, Dolly, Eklavya, and Falguni, were split into two groups of three each: Elite led by Manager Kuku, and Novice led by Manager Lalu. At the end of each quarter, Kuku and Lalu handed out ratings to all members in their respective groups. In each group, each employee received a distinct integer rating from 1 to 3. & nbsp;
The score for an employee at the end of a quarter is defined as their cumulative rating from the beginning of the year. At the end of each quarter the employee in Novice with the highest score was promoted to Elite, and the employee in Elite with the minimum score was demoted to Novice. If there was a tie in scores, the employee with a higher rating in the latest quarter was ranked higher.
1. Asha, Bunty, and Chintu were in Elite at the beginning of Quarter 1. All of them were in Novice at the beginning of Quarter 4.
2. Dolly and Falguni were the only employees who got the same rating across all the quarters.
3. The following is known about ratings given by Lalu (Novice manager):
– Bunty received a rating of 1 in Quarter 2. & nbsp;
– Asha and Dolly received ratings of 1 and 2, respectively, in Quarter 3.- Faculty members in a management school can belong to one of four departments – Finance and Accounting (F&A), Marketing and Strategy (M&S), Operations and Quants (O&Q) and Behaviour and Human Resources (B&H). The numbers of faculty members in F&A, M&S, O&Q and B&H departments are 9, 7, 5 and 3 respectively. Prof. Pakrasi, Prof. Qureshi, Prof. Ramaswamy and Prof. Samuel are four members of the school's faculty who were candidates for the post of the Dean of the school. Only one of the candidates was from O&Q. Every faculty member, including the four candidates, voted for the post. In each department, all the faculty members who were not candidates voted for the same candidate. The rules for the election are listed below.
1. There cannot be more than two candidates from a single department.
2. A candidate cannot vote for himself/herself.
3. Faculty members cannot vote for a candidate from their own department.
After the election, it was observed that Prof. Pakrasi received 3 votes, Prof. Qureshi received 14 votes, Prof. Ramaswamy received 6 votes and Prof. Samuel received 1 vote. Prof. Pakrasi voted for Prof. Ramaswamy, Prof. Qureshi for Prof. Samuel, Prof. Ramaswamy for Prof. Qureshi and Prof. Samuel for Prof. Pakrasi - There are only four neighbourhoods in a city-Levmisto, Tyhrmisto,Pesmisto and Kitmisto. During the onset of a pandemic,the number of new cases of a disease in each of these neighbourhoods was recorded over a period of five days. On each day, the number of new cases recorded in any of the neighbourhoods was either 0,1,2 or 3.
The following facts are also known:
1. There was at least one new case in every neighbourhood on Day 1.
2. On each of the five days, there were more new cases in Kitmisto than in Pesmisto.
3. The number of new cases in the city in a day kept increasing during the five-day period. The number of new cases on Day 3 was exactly one more than that on Day 2.
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The following additional facts are also known.
1. Seminars by students from Economics are scheduled in each of the four slots.
2. A’s is the only seminar that is scheduled at 10:00 am. A is guided by R.
3. F is an Anthropology student whose seminar is scheduled at 10:30 am.
4. The seminar of a Sociology student is scheduled at 9:00 am.
5. B and G are both Sociology students, whose seminars are scheduled in the same slot. The seminar of an Economics student, who is guided by T, is also scheduled in the same slot.
6. P, who is guiding both B and C, has students scheduled in the first two slots.
7. A and G are scheduled in two consecutive slots.
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