Ways to Solve Your GMAT Percentage Sums Easily

The term percentage is quite predominant in the school maths books. Every student has been doing it since middle school. It is also thoroughly practiced during high schools with its difficulty level turning really high. Now, in GMAT quant section too, we will find the percentage topic making it in the list among others like probability, ratio and proportion, and more. The GMAT quant section though resembles the high school syllabus but its level is undoubtedly quite hectic for students to solve. After all, it is the gateway for MBA aspirants to pursue MBA from their dream business school. Not only abroad but Indian business schools, too, have started accepting GMAT which is why many Indians are working hard to score high. This way, they can try for both Indian and foreign business schools. 

The percentage section of the GMAT quant section comprises certain rules which when followed will surprise the students with escalated GMAT scores. Let us study them in detail.

The percentage is the topic which is dealt with by not only students all the human beings at some point in time and for a few is every day’s task. A visitor in a restaurant would like to tip the waiter with a percentage, a business partner would divide the profit into 50-50 percentage, and so on. 

We all are aware of the percentage formula – 

Percent change = amount of change/starting amount x 100

So, an example will look like –

If the price of a bag changes from 10 dollars to 17 dollars and we need to find the percent of the increase. The change of amount would be the difference between these two amounts 10 to 17 and it is 7. The starting amount was 10. So the equation would be –

Percent change = 7/10 x 100

Which is 70%

Percentage questions are often found in arithmetic or geometry sections too

You might be asked to find out by what percentage the area of a rectangle increases if the length of its breadth is increased by 30%. Or how the decrease in the area of the triangle will respond to its correspondence in size.

In the arithmetic section, one will come across questions like – calculate the percentage change in a recurring deposit or the turnover of the company. 

Understanding a few percentage preparation tips for GMAT

These few preparation tips are going to prepare you efficiently for the final day.

Noticing the Deceptive Wordings

GMAT quant section is quite famous for its confusing portrayal of questions and often students are found to be lost while solving them. This percentage question is somewhat like that. It is very necessary to minutely go through the question to ensure correct answering. It is obvious for the students to be nervous at that time but considering the fact that the time limit for reach question is not huge, the students must prepare the GMAT percentage section in a way that they do not overlook the actual detail. 

For instance, in a question like - If you’re purchasing a scooter that costs 500 dollars, and its price suddenly couples, the cost of the bicycle is now 1,000 dollars. 1,000 dollars represents a rise of 100% from the original price of the bike, but 200% of the original cost of the bike.

Now, this question will make on recognize the tone of dilemma that the test maker has put. The student will either be finding the percent change (increase) or the proportion of the original cost of the bike – and generally, they will search for two distinct numbers. It is quite anticipated for the student to go for the wrong number if not reading thoroughly.

Hustle bustle with increase-decrease

The increase and decrease of a certain thing in a percentage question are quite commonplace. But that is where the confusion lies, the student tends to go for the wrong answer. For instance, 

The cost of banana increases by 30% and then decreases by 30%. The final price is what percent of the original price?

Now, the students who are new to this will go for 100% assuming that when the increase and decrease percent is the same. But that is actually wrong.

When there is a rise in the percent of the banana by 30%, the price after the increase will be counted. So, there is a new amount instantly, that new price will be used for further calculation now. And having different starting values will definitely lead to different outcomes and correct answers.

Multiplying the multipliers

To understand this step, let us take the previous example again. The banana’s cost in the beginning increased by 30%, we can display the increase to 1.3. And a decrease of 30% can also be displayed as 0.7.

Now let us multiply the multipliers – (1.3) (0.7) = 0.91

The banana’s final price is thus 91% of the initial price and that means it increased by 9%.

The initial value is vital

Knowing this point is a prerequisite, whenever you are starting with any sum make sure to consider both the given starting amount and also the amount after changing. And if any of these numbers are incorrect then the answer will be wrong. 

For instance, the price of a bicycle is 400 dollars now having lessened from 500.

Now, a student new to it will consider the value 400 before 500 and that is where the problem lies. Here, the value 500 is the first to be looked into and hence if the student proceeds with that amount, the answer will be correct. It is confusing for first-timers attempting the GMAT quant section. In fact, experienced ones too, commit the mistake of proceeding with 400. The starting value is crucial for the sum to be correctly answered. 

The GMAT quant section has been a problem part for many. Though the percentage is an old topic the advanced level of it has lent it quite some confusion. These preparation tips for GMAT will relatively help the students to solve them.