It is currently Mon Jan 22, 2018 12:19 am

 All times are UTC

 Page 1 of 1 [ 4 posts ]
 Print view Previous topic | Next topic
Author Message
 Post subject: Maths question, Oundle School past paperPosted: Sat Feb 15, 2014 1:22 pm
My son was given this question and I try to figure out but I have such a mental block!

Q) A property owner sold two terraced houses each at £99 000 each. Based on what he had paid for them, the profit on one was 10% and the loss on the other was 10%. Overall, did the property owner make a profit or loss? Calculate the amount of profit or loss.

from mark schemes, I know the answer is: A loss of £2,000 but I don't know how to calculate it.
Many thanks

Top

 Post subject: Re: Maths question, Oundle School past paperPosted: Sat Feb 15, 2014 2:03 pm

Joined: Thu Mar 14, 2013 6:30 pm
Posts: 583
Classic percentage question..I'll try and explain how I have taught my son..Start with a triangle format as below..

New Number

Old Number Multiplier

The new number in the example is £99000 (the sold price of the house)

For the profit, the multiplier is 1+0.1=1.1 (100% is 1, and so 10% profit, is 0.1 as a decimal)

For the loss, the multiplier is 1-0.1=0.9 (100% is 1, therefore loss of 10% is 0.1 as a decimal and is subtracted because of reduction)

Therefore, the cost of the house prior prior to sale with 10% profit was £99000/1.1= £90000 (use the triangle)

The cost of the house prior to sale with 10% loss was £99000/0.9= £110000

So for profit, he makes £9K

and for loss, he loses £11k

Overall loss is £2k (11k-9k=2k)

This is my method and works every time;

Top

 Post subject: Re: Maths question, Oundle School past paperPosted: Sat Feb 15, 2014 2:09 pm

Joined: Thu Mar 14, 2013 6:30 pm
Posts: 583
on the last line of the triangle, there should be a space between old number and the multiplier, the format has not been respected when I have submitted, think of a triangle with all 3 in each corner of the triangle

Top

 Post subject: Re: Maths question, Oundle School past paperPosted: Sun Mar 30, 2014 12:56 am

Top

 Display posts from previous: All posts1 day7 days2 weeks1 month3 months6 months1 year Sort by AuthorPost timeSubject AscendingDescending
 Page 1 of 1 [ 4 posts ]

 All times are UTC

#### Who is online

Users browsing this forum: No registered users and 3 guests

 You cannot post new topics in this forumYou cannot reply to topics in this forumYou cannot edit your posts in this forumYou cannot delete your posts in this forumYou cannot post attachments in this forum

Search for:
 Jump to:  Select a forum ------------------ FORUM RULES    Forum Rules and FAQs 11 PLUS SUBJECTS    VERBAL REASONING    MATHS    ENGLISH    NON-VERBAL REASONING    CEM 11 Plus GENERAL    GENERAL 11 PLUS TOPICS    11 PLUS APPEALS    11 PLUS TUTORS    INDEPENDENT SCHOOLS    11 PLUS CDs/SOFTWARE    11 PLUS TIPS    PRIMARY    SEN and the 11 PLUS    EVERYTHING ELSE .... 11 PLUS REGIONS    Berkshire    Bexley and Bromley    Birmingham, Walsall, Wolverhampton and Wrekin    Buckinghamshire    Devon    Dorset    Essex    Essex - Redbridge    Gloucestershire    Hertfordshire (South West)    Hertfordshire (Other and North London)    Kent    Lancashire & Cumbria    Lincolnshire    Medway    Northern Ireland    Surrey (Sutton, Kingston and Wandsworth)    Trafford    Warwickshire    Wiltshire    Wirral    Yorkshire BEYOND 11 PLUS    Beyond 11 Plus - General    GCSEs    6th Form    University