Topic: Mckinsey calling for test.

Hello house, please for those who have started pracitising with the practise materials, has anyone noticed any discrepances? Please look at the 6th question on practise test 1. Have u noticed how percentage profit is being calculated as: 'profit/selling price X100'? Every test book I have ever seen and even internet sources calculate profit as; 'profit/cost price x 100'. What wud u guys advice we do; work with the mckinsey formular in preparation for thier test or use the right thing? I mean, its possible dat its an oversight on their part, we cannot know. Please I need contributions. Thanks.

Hey guys, SCRATCH MY LAST POST!! Looks like the oversight was committed by me!! 'percentage profit' and 'profit margin' are definitely calculated differently. Ehmm... Is there no button on dis site for deleting posts? I cud use one right now, lol.

@Deeray Those business terms can be really confusing: profit margin, percentage profit, market share e.t.c especially for someone coming from an engineering background. Funny enough I stumbled upon the profiles of sum peeps working at Mckinsey Nigeria already on linkedin and they mostly had engineering backgrounds LOL.So there's no excuse for me then!
Lol at the delete button probably a modify button would be better!

i equally got a mail from this Mary Anne, asking of my transcript of my MBA programme
i told her it wasn"t ready.....yet she kept on insisting lol
last mail from her was to get any thing showing my grade for the programme
i dont know if they will accept grades not endorsed from the shool authority?
pls wats ur tak on this
luv u all.

Profit percentage can be calculated either as a markup or margin. If its to be calculated as a mark up, it implies that the profit element will be calculated as a percentage of selling price hence profit%. If its to be calculated as a margin, it implies that the percentage will be calculated with respect to cost. Hope this helps those taking the test because this question(s) could be so full tricks but don't let us go into that. Quick question, is the vacancy only for MBA students or holders?

@ Mr right if she insist, ??U?? can do a manual computation and send but try to add a footnote to inform her that it isn't official but accurate, correct and it's open to verification.. Am sure it will serve

Seunfoster, to answer your question, its not for MBA holders alone. 1st degree holders can also apply. On the profit margin business, I guess ure mixing it up just like I did. The Mckinsey material and other internet sources I chekd with calculated PROFIT MARGIN as a percentage of SELLING PRICE. You may want to cross-check that again. I appreciate ur contribution, thanks a bunch.

tanks kollected. am greatful

hv the coy called u 4 dia apptitude test kazie

has d coy called u for apptitude test?

@dakings, Not yet. Ds is my first application wt them. We hope in God.