Use these tricks to Answer Percentage Questions Quickly

The ‘percentage’ topic is going to be an integral part of the quantitative aptitude section when it comes to banking exams. Whether it’s simple word problems, questions of more than one concept or tricky questions of data interpretation, quick and speedy percentage calculation always comes in handy. Even a handful of seconds are extremely important in these exams where you need to solve a given number of questions in a set time. The time which you get to deal with one question ranges from 30-50 seconds which is attainable only if you have clarity on the concepts and know shortcuts as well. Obviously, you’re not going to solve all the questions. But you need to solve as many questions as possible accurately in the given time to surpass the sectional cut-off (if at all, it is there) and to give a good push to the overall cut-off.

A Quick Explanation of Percentage

A percentage is a number or ratio expressed as a fraction of 100. So 5% means 5 per cent which also means 5 per hundred. In other words, 5% implies 5/100 or 0.05. So wherever you find any number with the % (per cent) symbol you put the denominator as 100 to get its fractional equivalent or you can actually divide it by 100 to get its decimal equivalent. Knowing the option to convert it to different formats will make you ready to process the value quickly and with accuracy.

Know the importance of Base

In any percentage question, the base (on which percentage has to be calculated) is of paramount importance. Calculation on a wrong base will lead you to an incorrect answer. For eg. sample the below question asked in the actual paper of IBPS PO Prelims 2018.

John bought a machine for Rs. 50,000 and spent Rs. 2000 on repairs and Rs. 500 on transport and sold it with 20% profit. What price (in Rs.) did he sell the machine?

A. 62000

B. 60000

C. 61000

D. 63000

E. None of these

This question is pretty much straightforward and 20% needs to be calculated on top of the cost price plus expenses. So the base here becomes (50,000 + 2,000 + 500) = 52,500.

Now 20% of 52,500 needs to be calculated and has to be added to 52,500. So either you calculate 20% of 52,500 (which is 10,500) and add it to 52,500 (making the selling price 63,000) 

or

you can quickly divide 52500 by 5 (which will get you 10500) and multiply 10500 with 6 to get the answer.

alternatively

you can multiply 52,500 with 1.2 to get 63,000. 1.2 is nothing but a quick calculation of 100 + 20/100 (which is 20%)

This is a pretty simple question and shouldn’t take more than 10-12 seconds for you to solve.

Memorize the Fractional Value

Keep the below fractional value in mind and use them when you practice questions related to the concept of percentage. Don’t miss out on Practicing via Mock Tests. Dealing with fractions is definitely easy when compared to their decimal/percentage counterparts. When efficiently used, this will not only save your time but will also improve your accuracy and you will can’t help but agree that both of these factors are extremely important in the upcoming banking exams like RBI Assistant, RBI Grade B, IBPS PO, SBI PO etc..

• 5%= 1/20 = 0.05
• 10% =1/10 =0.1
• 15% =3/20
• 20% = 1/5
• 25% = 1/4
• 30% =3/10
• 40% =2/5
• 50% =1/2
• 55%=11/20
• 60% = 3/5
• 70% = 7/10
• 75% = 3/4
• 80% = 4/5
• 90% = 9/10
• 100%=1
• 6 ¼ % = 1/6
• 12 ½ % = 1/8
• 16 2/3 % = 1/6
• 33 1/3 % = 1/3
• 66 2/3 % =2/3
• 125% =5/4
• 150% = 3/2

To start with, you may start practising by keeping this list in front of you when dealing with questions related to the percentage topic. As you practice more questions, you will slowly start remembering the fractional equivalent of different percentage-values. Now let’s have a look at a percentage question of new pattern:

Percentage Example (New Pattern)

Ques: In an examination, Ajay got 27% marks and failed by ____ marks. In the same examination, Vijay got 55% marks and thus was able to score ____ marks above passing marks. Passing marks of the examination is 35%.

The values given in which of the following options will fill the blanks in the same order in which is it given to make the above statement true:

A. 72, 180

B. 80, 210

C. 50, 130

D. 96, 240

E. 64, 160

a. Only A, C and E

b. Only A and C

c. Only A, D and E

d. Only A, C, D and E

e. Only B and E

Ans: c

Solution:

Ajay scored 8% below passing marks

And Vijay scored 20% above passing marks

So the ratio of first blank to second blank = 8: 20 = 2: 5

Now values in options A, D and E are in the ratio 2: 5 respectively

So options A, D and E can be the answers

Hence, option c.

We hope that this article will clarify your percentage concepts and at the same time, will acquaint you with new shortcuts & tricks. Use these shortcuts while taking free mock tests and see if it helps you in answering the questions with accuracy and in relatively less time.

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