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of Comparing Quantities Class 8
of Comparing Quantities Class 8
QUANTITIES
= 0.65
And 4.5 can be written as a
fraction
= = = 450 %
This proves that a decimal can be
expressed as a percent
PERCENT AS A RATIO
Since we are aware that ratio is a
fraction and we have seen above
that a percent can be expressed as
a fraction and vice versa. Thus ,
percent can be expressed as a ratio
and vice versa
90 % means = = 9:10
3:4 = = = = 75%
Profit and loss
CostPrice (C.P.) : Price at which an article is
purchased is called its cost price.
Selling Price (S.P.) : Price at which an article
is sold is called its selling price.
Gain or Profit : When S.P. > C.P. then there is
gain.
Loss : When S.P. < C.P. then there is loss
Note: Profit % and Loss % are always
reckoned on the cost price.
Formulae
Gain = S.P. – C.P. Gain % = Gain x 100/ C.P
Loss = C.P. – S.P. Loss % = Loss x 100 / C.P.
S.P. When gain % is given S.P. = x C. P.
S.P. When loss % is given S.P. = x C.P.
C.P. When gain % is given C.P. =
C. P. When loss % is given C.P. =
discount
Discount refers to the condition of the price of
a bond that is lower than the marked price.
Discount is a kind of reduction or deduction
in the cost price of a product. It is mostly used
in consumer transactions, where people are
provided with discounts on various products.
The discount rate is given in percentage.
Discount % = x 100
What is sales tax ?
It is a tax levied by the Government on the
items we buy. It is levied on the sale price of
the commodities. It is usually levied at a fixed
percentage of the selling price. However, this
percentage is different for different
commodities.
Calculation of sales tax
Sales tax = x selling price
Total amount of the bill = Selling price + Sales tax
What is vat
The letters VAT stand for Value Added
Tax. This is a tax added on to the price
of lots of the things that you can buy.
Most shops include VAT in their prices.
So the price you see on the label is the
total of what you pay.
VAT= the taxable amount × applicable
VAT rate / 100
Original Price = 100 x S. P. / 100 + VAT%
Compound interest
Simple Interest = P x R x T / 100
P = Principal A = Amount
R = Rate SI = simple interest
T = Time CI = compound interest
Compound interest is the addition of
interest to the principal sum of a loan or
deposit, or in other words, interest on
interest.
CI = Amount – Principal
A = P ( 1 + )T
Calculation of ci when the interest is
compounded annually but time is in a
fraction
For Example time = 3 years ,
then
Amount = P ( 1 + )3 x ( )
Calculate of ci for different units of
time
If principal is P, rate is r% p.a., time = 1 year
Case I :Unit of time is half year, then R will R/2
for half year and Time= 1 year = 2 half years
= 2 conversion periods.
Case II: Unit of time is 1 quarter, then R will be
R/4%for 1 quarter and Time = 1 Year
= 4 quarters
= 4 conversion periods