Math wiz needed.

I'm studying for my real estate license. I'm studying the math test right now and my brain hurts.

Here's the Q

Jack's (ironic) building materials cost $100 yesterday. If building costs increased 20%. The value of the investors dollar has decreased by:

A) 16 and 2/3%
B) 20%
C) 25%
D)33 and 1/2 %
E) How the heck would I know, I haven't done this math since 6th grade!!!

Then they sort of help me work it out.

The material I bought yesterday for $100 now costs 20% more or $120 more. If I only have $100 I can only buy 100/120th of 5/6ths of what I could yesterday. My dollar has decreased by 1/6 or 16 2/3% or $83.33

My problem is that I don't understand how 1\6 converts into 16 and 2/3% to come up with that answer.

Any help appreciated.

And please explain it like you're explaining it to a 6th grader.

Kitty Pryde said:

Type it into your calculator: 1 / 6 = and the answer you get will be .1666667. .16 is 16 percent, and .00666667 is 2/3 of a percent. Does that help?

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I don't have a forward slash on my calc. But it does make more sense. Okay, and just move the decimal over two times to the right. Now I see it! Do calculators come with a /?

ElaraSophia said:

They have taken one sixth and converted it into a percentage. They do that by doing

1 divided by 6 = 0.16 recurring (pronounced nought point one six recurring, meaning the last digit, the six, is repeated endlessly)

and then multiplying it by 100 to get the value as a percentage:

0.16 recurring x 100 = 16.6 recurring. The (0).6 recurring is another way of saying two thirds -- you can see this by entering 2 divided by 3 into a calculator.

They then subtracted 16.6 recurring from 100 to get the new value of the invested dollars.

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Okay, I'm going to have to take this one bit by bit but it looks promising.

It's starting to make sense now!

Thanks so much! I'm glad I posted this. I've been going through this for three days now to try and understand it.


So. duh, I guess I don't need a / thingy on my calculator? Just put in 1 divided by 6. Got it!

CaroGirl said:

Slash is the same as divided by. When one number is over another, or separated by that slash, divide the bottom number into the top number.

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I just figured that out. I may be slow but when I get it, it's golden!



Thanks!


BTW, real estate math is mind boggling.

CaroGirl said:

I have a sixth grader you can borrow, as long as you feed her before you send her back.

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Okay! We're having turkey stuffed peppers, salad and garlic bread. I'll make extra garlic bread cause I have kids and we're experimenting tonight with the stuffed peppers thing.

Kitty Pryde said:

/ means divided by. On the calculator it looks like a horizontal line with a little dot above and a little dot below.

And yes, shift the decimal point over 2 places to change a decimal to a percentage. Like 1% means 1 out of 100. And if you divide 1/100 then it equals 0.01. 50% means 50 out of 100. So 50/100 = 0.5

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I know what a divided sign looks like, dork. (you've just been dorked, means: I really dig you).

I'm going write that down, because that makes more sense to me.

Thanks!

I just went back and did it again! That was so easy!

Thanks for showing me that, gals!