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Thread: Ratio question: highest ratio of Avg Sales Price to Ave Production Cost

  1. #1
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    Ratio question: highest ratio of Avg Sales Price to Ave Production Cost

    Hi

    I'm working through some numerical reasoning tests and I am stuck on this ratio question.

    I have the answer as show below, but I need to know how they got the ratios. I have enclosed the question.

    Many thanks



    2010 2009 2008 2007 2006
    Avg Sales Price 62709 60296 63188 51607 51602
    Production cost 14500 15800 13600 11400 13750
    ratio 4:3:1 3:8:1 4:6:1 4:5:1 3:8:1
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  2. #2
    Elite Member stapel's Avatar
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    Cool

    Quote Originally Posted by Miles View Post
    I am stuck on this ratio question.

    I have the answer as show below, but I need to know how they got the ratios. I have enclosed the question.

    2010 2009 2008 2007 2006
    Avg Sales Price 62709 60296 63188 51607 51602
    Production cost 14500 15800 13600 11400 13750
    ratio 4:3:1 3:8:1 4:6:1 4:5:1 3:8:1
    How are you getting an answer with three values, when the question asks about a ratio of two values?

  3. #3
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    Quote Originally Posted by Miles View Post
    I have the answer as show below, but I need to know how they got the ratios. I have enclosed the question.

    2010 2009 2008 2007 2006
    Avg Sales Price 62709 60296 63188 51607 51602
    Production cost 14500 15800 13600 11400 13750
    ratio 4:3:1 3:8:1 4:6:1 4:5:1 3:8:1
    Are you saying that the last line is the ratios they gave as part of finding the answer? Either they were printed incorrectly, or you misinterpreted what it said. The ratios are found by simply dividing the first number by the second; it should look like this:

    2010 2009 2008 2007 2006
    Avg Sales Price 62709 60296 63188 51607 51602
    Production cost 14500 15800 13600 11400 13750
    ratio 4.3:1 3.8:1 4.6:1 4.5:1 3.8:1

    When you want to compare ratios, you don't want them as simplified ratios like 4:3, but as decimals (here written as "something:1"). They did that, rounding to the nearest tenth. The answer to the question is the one with the largest number, namely 2008.

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    Quote Originally Posted by stapel View Post
    How are you getting an answer with three values, when the question asks about a ratio of two values?
    I am just giving you the solution they provided. I just want to know how they worked out the answer i.e. how did they work out that the ratio was 4:3 for 2010

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    Quote Originally Posted by Dr.Peterson View Post
    Are you saying that the last line is the ratios they gave as part of finding the answer? Either they were printed incorrectly, or you misinterpreted what it said. The ratios are found by simply dividing the first number by the second; it should look like this:

    2010 2009 2008 2007 2006
    Avg Sales Price 62709 60296 63188 51607 51602
    Production cost 14500 15800 13600 11400 13750
    ratio 4.3:1 3.8:1 4.6:1 4.5:1 3.8:1

    When you want to compare ratios, you don't want them as simplified ratios like 4:3, but as decimals (here written as "something:1"). They did that, rounding to the nearest tenth. The answer to the question is the one with the largest number, namely 2008.
    Yes I can see the answer is 2008, but how did they work it out. Thanks

  6. #6
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    I just re-read this - thanks for the answer

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