BUSINESS MATHEMATICS & STATISTICS

LECTURE 11
Review Lecture 10 Set up and manipulate ratios. Express percent differences Allocate an amount on a prorata basis using proportions. Convert currencies Relate movement to appreciation or depreciation. Interpret and use index numbers

RATIO
Ali, Fawad and Tanveers partnership interests in Creative Enterprises are in the ratio of their capital contributions of Rs. 7800, Rs. 5200 and Rs.6500 respectively What is the ratio of Alis to Fawads to Tanveers partnership interest? .

Ali
7800 :

RATIO Fawad Tanveer

5200 : 6500

78 1.5

52

65 1.25

Divide each by 52 : 1 :

Estimating Using Ratio

Ratio of sales of Product X to sales of Product Y = 4:3. Sales of product X forecast to be Rs. 180,000 Sales of products maintain the same ratio? Sales of product Y ?

CALCULATION
X:Y=4:3 180,000 : Y = 4 : 3 Cross multiply 180,000 x 3 = 4 x Y 4 x Y = 180,000 x 3 Y = (180,000 x 3)/4 Y = 135,000

How much more staff?

500 bed hospital 200 nurses 150 other support staff A new 100-bed wing to be opened Assuming comparable staffing levels, how many more nurses and support staff will need to be hired?

Calcuation
Beds 500 100 : Nurses : Other staff : 200 : 150 : X? : Y? Nurses 500 : 200 = 100 : X 500 X = 200 x 100 X = (200 x 100)/500 = 40 Other staff Y = (150 x 100)/500 = 30

Estimating Using Ratios

Punch recipe mango juice, apple juice and orange juice ratio of 3:2:1. To make 2 litres of punch calculate quantity of ingredient is needed

Calcuation
Mango juice : Apple juice : Orange juice 3 : 2 : 1 Total = 6 X? : Y? : Z? Total = 2 litre Mango juice X = (3/6)*2 = 1 litre Apple juice Y = (2/6)*2 = 0.67 litre Orange juice Z = (1/6)*2 = 0.33 litre

Estimating Using Ratios

Punch recipe mango juice, apple juice and orange juice ratio of 3:2:1. If you have 1.5 litres of orange juice , how much punch can you make?

Calcuation
Mango juice : Apple juice : Orange juice 3 : 2 : 1 Total = 6 X? : Y? : Z=1.5 Total = ? litre Mango juice X = (3/1)*1.5 = 4.5 litre Apple juice Y = (2/1)*1.5= 3.0 litre Orange juice Z = 1.5 litre Total = 4.5 + 3.0 + 1.5 = 9 litre

Estimating Using Ratios

Punch recipe mango juice, apple juice and orange juice ratio of 3 : 2 : 1.5 If you have 500 m. litres of orange juice , how much mango juice and apple juice is needed ?

Calcuation
Mango juice : Apple juice : Orange juice 3 : 2 : 1.5 Total = 6.5 X? : Y? : Z=500 Total = ? Mango juice X = (3/1.5)*500 = 1000 ml Apple juice Y = (2/1.5)*500= 667 ml Orange juice Z = 500 ml Total = 1000 + 667 + 500 =2167 ml

BUSINESS MATHEMATICS & STATISTICS