GHANA INSTITUTE OF FREIGHT
FORWARDERS
Proficiency Certificate in Freight Forwarding
Statistics and Business Mathematics
Gabriel Essilfie
Gabriel Essilfie
REAL NUMBER SYSTEMS
Gabriel Essilfie
Gabriel Essilfie
Approximations
• We are going to deal with how to approximate
real numbers and how to approximate a number
to a certain place value
• Approximations simply means the nearly correct
or accurate.
Gabriel Essilfie
Place value of Numbers
Whole Number
Gabriel Essilfie
Each of the following Numbers has 3 decimal
Places;
0.345 true / false
2.001 true / false
97.020 true / false
132.000 true / false
Number of decimal places is the number of digits which comes after the decimal point
Gabriel Essilfie
Correcting a Decimal to Stated Number of
Decimal Places
• Here the decimal is given , we therefore reduce
the decimal places (ie. To appromate)
• Eg;
• 0.371=0.4 (1 d.p)
• 16.054=16.05 (2 d.p)
• etc
Gabriel Essilfie
Step 1: determine the decimal point
Step 2: determine the last decimal place you want
Step 3: count to the right up to the decimal place you
want
NB: if the figure next to the last decimal place is less
than 5, “end there” and discard the decimal place you
don’t want.
If the figure next to the decimal place you want is
greater than or equal to 5, then you add one to the
figure in the last place you want and discard the
decimals you don’t want.
Gabriel Essilfie
examples
• Correct 23.4625 to
• A. 1dp
• B. 2 dp
• C. 3dp
Gabriel Essilfie
exercise
• Correct the following decimals to
• i. 1 dp
• ii. 2 dp
• iii. 3dp
• A 1.2600081
• B 0.33333
• C 9.235864
Gabriel Essilfie
Rounding Numbers to the nearest tenth,
hundredth, thousandth, etc
• For any with a decimal part the first decimal place is
Tenth
• 1dp means nearest tenth
• 2dp means nearest hundredth
• 3 dp means nearest thousandth etc
• Nearest whole number has no decimal place so you
discard all the decimal but check the next figure
after the decimal point.
Gabriel Essilfie
Consider;
Remember that, running decimals to
1pd is nearest tenth
2dp is nearest hundredth
3 dp is nearest thousandth etc
Gabriel Essilfie
Exercise
• Correct the following decimal numbers to nearest
• i. tenth ii. hundredth iii. Thousandth
• A. 9.23564
• B. 12.146473
• C. 0.456356
• D. 5.124651
• E. 296.063212
• F. 79.924563
• G. 742.12457
• H. 10.18130
• I. 0.014587
Gabriel Essilfie
• Next is Home Work
Gabriel Essilfie
Trial
• Write 463.1598 to the nearest
i. Whole Number
ii. Tenth
iii. Hundredth
iv. Thousandth
Gabriel Essilfie
Rounding Numbers to the nearest ten,
hundred, thousand, etc
• Earlier, we leant that for any whole number, a
figure’s place in the number is important.
Gabriel Essilfie
Example, Consider 9873456
i. to the nearest ten is 9,873,460
ii. to the nearest hundred is 9,873,500
iii. To the nearest thousand is 9,873,000
iv. To the nearest ten thousand is 9,870,000
v. To the nearest Hundred Thousand is 9,900,000
vi. To the nearest million is 10,000,000
Gabriel Essilfie
Trial
• Correct 3486915 to the nearest
i. Thousand
ii. Million
Gabriel Essilfie
3486915
Ones
(unit)
Tens
Hindreds
Thousands
Ten Thousands
Hundred Thousands
Million i. Nearest Thousand is 3,487,000
ii. Nearest Million is 3,000,000
Gabriel Essilfie
Assignment
• Not this time around…….LOL
Gabriel Essilfie
Approximating a decimal number to a given
number of significant figures
• A figure’s place value in a number is so
important. It tells you the worthiness of the
figure
• As you move from left to right
i. The first Non-Zero figure is the first significant
figure.
What is the first significant figure in 3067?
What is the third s.f?
Gabriel Essilfie
What about 0.00406
• What is the first s.f
• What is the second s.f
• What is the third s.f
• Good! It means that , To number significant
figures we start counting from the First
significant figure (i.e the first non-zero figure)
then you count to your right.
Gabriel Essilfie
steps
• Determine the last s.f you want .
• Then look at the next s.f to the right.
▫ NB: if this figure is less than 5, leave the leave the
last s.f you want as it is.
▫ If this figure is 5 or more add 1 to the last s.f you
want.
• Make sure that the approximated number is of
the same order of size as the original
Gabriel Essilfie
Examples
•Correct 0.009416 to 1 s.f
•Give 15.072 to 3 s.f
•Round 0.4563 to 2 s.f
Note these carefully Gabriel Essilfie
• Zeros that comes after non-zero digits;
• Eg. 83,000, 83,000. 83.000
1. If we have zeros that comes after a non- zero digit
and there is no decimal point, these zeros are not
significant
• 83,000 (has 2 s.f, since the zeros are not
significant)
2. If there is a decimal part , it means the zeros
before the decimal points are significant.
83,000. (has 5 s.f since the zeros before the d.pts
are significant.)
Gabriel Essilfie
3.Zeros sandwiched between non-zero digits are always
significant
• 3,091 (has 4 s.f)
• 82024 (has 5 s.f)
• 109003 ( 6 s. f)
• 5.00603 (6 s
4. Zeros that comes before all non-zero digit are never
significant.
0.000419 (has 3 s. f)
0.0000000000000076 (has 2 s.f)
5. Zeros after a decimal part are significant
83.000 (5 s. f)
Gabriel Essilfie
How many s.f has these figures
•4,532,100
•789.000
•90,000
•200.
•50.000
Gabriel Essilfie
Trial
• Correct the following numbers to
• I)4. ii)3. iii)2. iv)1. Significant figure(s)
• A)17300
• B)5423640
• C)782001
• D)23325402
• E)0.723568
• F)0.651234
• G)0.24780021.
• H)0.6007010
• I)20023.
• J)100100.001
• K)3.014065
• l)46.10214
Gabriel Essilfie
Assignment
• Express the numbers in significant figures as indicated
• A)19.825 (2sf)
• B)0.9974 (2sf)
• C)0.00764 (2sf)
• D)18749 (3sf)
• E)0.07568 (3sf)
• F)0.002 85 (2sf)
• G)301.2 (2sf)
• H)2415.73 (2sf)
• I)0.877 51 (3sf)
• J)0.03012 (2sf)
Gabriel Essilfie
Application of Percentages
• The percentage sign (%) means per hundred or
out of hundred.
• 18% means 18 out of 100 or
• Expressing fractions as Percentages.
To express a given fraction as a percentage, just
multiply by 100.
Example: = x 100 = 20%
We just multiply the fraction by 100
Gabriel Essilfie
Finding the percentage of a quantity
• To find the percentage of a quantity, just
multiply the quantity by the percentage.
• 20% of GH¢200.00 = xGH¢200 = GH¢40
• 5% of GH¢500.00 = xGH¢500 = GH¢25
Gabriel Essilfie
Example
• A landlady rented out her house for GH¢24.00 for
one year. During the year she paid 15% of the rent
as income tax. She also paid 25% of the rent as
property tax and spend GH¢2.00 on repairs.
Calculate
• a. the landlady’s total expenses
• b. the remainder of the rent after the landlandy’s
expenses
• c. the percentages of the rent she spent on repairs
Gabriel Essilfie
Exercise
• In Mr. Awuku’s Farm, there are 900 rabbits, 700
sheeps, 300 cattle and 500 pigs. What percentage
of the total number of the animals are rabbits
• Pinto obtained 150marks out of 240 marks in an
English test. What was his percentage score
• Kweku had 300 mangoes. He sold 240 of them.
What is the percentage of the mangoes left.
Gabriel Essilfie
Profit and Loss
• A trader may buy goods from a wholesaler or direct
from the manufacturer or a third party. If the
trader sells or retails the goods at a price higher
than he bought them then he has made a profit.
• However , if he sells the goods at a price lower than
he bought them then has made a loss
• Profit and Loss are often given as percentages of
the cost price.
Computational Formulas Gabriel Essilfie
• Profit=Selling Price (SP) – Cost Price (CP)
• Selling Price = Profit + Cost Price
• Profit percent = x 100
= x 100
• Cost Price= x SP
• Selling Price= x CP
NB: The Cost price is equivalent to 100 and the selling price is equivalent to
(100+ profit Percent)
Computational Formulas Gabriel Essilfie
• Loss=Cost Price (CP)-Selling Price (SP)
• Selling Price = Cost Price-Loss
• Loss percent= x 100
= x 100
• Cost Price= x sp
• Selling Price= x cp
NB: The Cost price is equivalent to 100 and the selling price is equivalent to
(100-Loss Percent)
Gabriel Essilfie
Examples
• A certain Woman sells rice at 5 cups for GH
¢25.00 and makes profit of GH¢8.00 per cup.
What is her percentage profit
• Hafsat buys 480 pineapples for GH¢240.00 She
sells all the Pineapples for GH¢280.00 Find her
• i. Profit
• ii. Profit Percent.
Gabriel Essilfie
Trial
• A table which cost GH¢24.00 to manufacture was sold
for GH¢30.00. Find the profit percent.
• The Cost of a book is 20Gp. It was sold for 18Gp. Find
the loss percent.
• The cost of a book s 20Gp. It was sold for 18Gp. Find the
loss percent.
• A woman sold an article for GH¢4.00 and made a profit
of 25%, find the cost Price and the profit.
Gabriel Essilfie
3. In terms of percentage profit, which among
following the best transaction.
A. C.P. 36, Profit 17
B. C.P. 50, Profit 24
C. C.P. 40, Profit 19
D. C.P. 60, Profit 29
Gabriel Essilfie
Discount
• It is the practice in some trade to sell goods at a
price less than the marked price to some regular
customers and those who buy large quantities.
Such a reduction in marked price is known as
discount.
• Cash Discount: Is when a discount is given
because he/she makes immediate payment
• Trade Discount: If a trader gives a fellow
trader discount prices of goods bought.
Computational Formulas Gabriel Essilfie
• The value of the original or marked price is 100 and is
equivalent to 100%. Therefore if the discount is x% , then the
new price is (100-x)%.
• Note the following carefully;
• New Price = x Original Price
• Original price = x New Price
• Discount Allowed =
• Amount Saved = x Original Price
Gabriel Essilfie
examples
If an item cost GH¢300.00, what is its new value if
there is a discount of 10%?
Hajia Humu was given a discount of 12% of the price
of a T.V set selling GH¢400.00. How much did he
pay for it?
Akwetey paid GH¢270.00 for a T.V set. After he had
been given a discount 0f 10%. Find the marked
price.
Gabriel Essilfie
exercise
• A marked price of a bag was GH¢9.00. John
received 15% discount for cash purchase of the bag.
How much did he pay for it?
• The marked price of a dress is GH¢95.00. A
discount of 10% is allowed for cash payment. How
much does one save by paying cash for the dress.
• Benedicta pays GH¢18.00 for an article after a
discount of 10% has been allowed. Find the discount
