Question

In the New York Stock Exchange there are \(45 \%\) female employees and thus the number of male employees is exceeded by \(72 .\) Hence the total no. of employees in the New York Stock Exchange is : (a) 540 (b) 720 (c) 7200 (d) 550

Short answer

Answer: The total number of employees in the New York Stock Exchange is 720.

Step-by-step solution

Finding the percentage of male employees

Since there are 45% female employees, the percentage of male employees can be found by subtracting this value from the total 100%. This gives us the percentage of male employees as follows: Percentage of male employees = 100% - 45% = 55%.

Setting up an equation for the number of employees

Let \(x\) be the total number of employees in the New York Stock Exchange. According to the information given, the number of male employees is exceeded by 72. Since we know the percentage of male and female employees, we can write an equation in terms of \(x\) like this: \(0.55x = 0.45x + 72\)

Solving the equation to find the total number of employees

Solve for \(x\) by subtracting 0.45\(x\) from both sides of the equation: \(0.55x - 0.45x = 72\) \(0.1x = 72\) Now divide both sides of the equation by \(0.1\): \(x = \dfrac{72}{0.1} = 720\)

Choosing the correct option

Since the total number of employees in the New York Stock Exchange is calculated as 720, the correct option is (b) 720.

Key concepts

Quantitative Aptitude

Quantitative aptitude is a crucial skill for various competitive exams and even in real-life problem solving, especially in fields like the stock exchange. It involves the ability to logically and accurately solve numerical and mathematical questions. In the context of the given exercise, quantitative aptitude is displayed through the understanding of percentages and their practical application. By recognizing that the percentage of female employees is 45%, one can deduce that the remaining percentage represents the male employee population.

Moreover, quantitative aptitude extends to setting up and solving algebraic equations. As seen in the exercise, students needed to translate the word problem into an equation, which then helps in finding out the total number of employees. It is not just about understanding the mathematical concept but also applying it effectively to arrive at a correct conclusion. Being proficient in quantitative aptitude can also be a valuable asset in fields such as stock exchange employment, where data analysis and financial calculations are commonplace.

Stock Exchange Employment

Working in a stock exchange, such as the New York Stock Exchange (NYSE), requires not just an understanding of financial instruments but also a strong foundation in mathematics and analytics, reflecting the skills tested by the percentage problem in our exercise. A diverse range of roles in the stock exchange, from financial analysts to traders, all require quantitative skills to analyze market trends, calculate risks, and understand complex financial data.

Additionally, employees must be adept at problem-solving and critical thinking, the same skills necessary to solve the quantitative exercise. In the context of our problem, understanding the distribution of gender within the workforce could be relevant for HR roles in the stock exchange that involve workforce planning and analysis. The meticulous attention to detail that goes into problem-solving in quantitative aptitude is very much a part of the day-to-day operations in stock exchange employment.

Algebraic Equations

Algebraic equations are fundamental in solving various problems involving unknown values. These equations are statements of equality with one or more variables that we need to solve for. In the given exercise, an algebraic equation was constructed to model the relationship between the number of male and female employees in the stock exchange.

In the problem, the concept of translating a verbal statement into a mathematical equation is key. By letting the total number of employees be represented by the variable 'x', and knowing the percentage of male and female employees, we establish an equation that considers both percentages and the given number by which male employees exceed female employees. Solving algebraic equations can involve combining like terms and isolating the variable, as shown in the exercise when finding the value of 'x'. This exercise illustrates how algebra allows us to answer questions about real-life situations by abstracting them into mathematical forms.