Maths problem, help!?
Hi im struggling wit this Q,
here is goes.
In year 2, the income was 25% higher than year 1 = £2,000,000 and ticketing accounted for 10% of the income
what about the value in £ of ticketing be in year 1, if ticketing was 12.5% of the income(in year 1)
Im getting different answers e.g. 300,00 / 500,00.
pls go easy as im not good in maths,
my way in working it out, is to deduct 25% of 2million= 1.5 and work out 12.5 % of that
Comments
Hi,
I'm not sure if I understand your question. This is the way I am reading it:
In year 2, the income was 25% higher than it was in year 1. In year 2 income was £2,000,000.
If ticketing was 12.5% of the income in year 1, what was the value in £ of ticketing in year 1?
If this is correct, then here is the solution:
Since income was 25% higher in year 2, it was 125% of the previous year's income. This would give the equation:
1.25x = 2,000,000 where x is year 1's income.
x = £1,600,000 This was the income for year 1.
Then, if ticketing was 12.5% of the income in year one, then
.125(£1,600,000) = £200,000
£200,000 is the value of ticketing in year 1.
I hope that's correct and that it helps!! :-)
you can't just deduct 25% from 2 million to get the income from year one. you have to do a bit of trial and error because 2 000 000 - 25% is not the same as x + 25%.
You find eventually that the year one income is 1.6 million
(1.6 million +25%=2 million) then you can do 12.5 percent of that which so happens to be 200 000.
Therefore, the answer is the value of ticketing in year one is 200 000 pounds.
Ur way is wrong
correct way is:
In year 2, the income was 25% higher than year 1
income in year 2 =£2,000,000
Let income in year 1=x
so £2,000,000 =125% x
x= £1,600,000
so ticketing =12.5% of £1,600,000
=£200,000
First outline what you know:
Year1 = z
Year1Tix = 12.5% z
Year2 = Year1 (z) x 125% = 2M
Year2Tix = 10% x 2M = 200k
The item with the most data is Year2, where we know the percent increase over Year1 and total monies 2M. So we can solve for Year 1 (z) by rearanging:
Year1(z) = 2M / 125% = 1.6M
So Year1 monies was 1.6M, then you can solve for Year1Tix:
1.6M x 12.5% = 200k
Your way is losing 100k because you can't just take 25% of 2M you need to find out what number increased by 25% gives you 2M which is 160k.
Make sense? Hope this helps ...
Year 2 income = £2 million- 10% of £2 million = £200,000
25% of £2 million = £500,000.
£2million minus £500,000 = £1500,000
12.5% of £1500,000 = £187,500 (12.5% is also one-eighth)
So the ticketing value in year 1 was £1500,000- £187,500 =
£1312,500.
your error is to assume that adding 25% then deducting 25% brings you back to the starting point.
if you want to know the income in year one, you need to multiply the income in year 2 by 100/125