Formulas for Pie Charts

Formulas of Pie Chart In Data Interpretation

  • Pie graphs are circular shaped graphs which are divided into sectors or slices to represent numerical data.
  • In a pie chart, the length or central angle of each sector or slice is proportional to the quantity it represents.
data interpretation pie chart formulas

 Concept of Pie Chart in DI

  • Reading a pie chart is as easy as figuring out which slice of an actual pie is the biggest.
  • Usually, you have several bits of data, and each is pictured on the pie chart as a pie slice. You will see that some data have larger slices than others.
  • So you can easily decipher which data is more important to your audience than others.

Uses & Formulas Pie Chart- In Data Interpretation

The main use of a pie chart is to show comparison. When items are presented on a pie chart, you can easily see which item is the most popular and which is the least popular.

Various applications of pie charts can be found in business, school, and at home. For business, pie charts can be used to show the success or failure of certain products or services. They can also be used to show market reach of a business compared to similar businesses.

Directions:

The following pie-chart shows the market share of different banks in India. Based on this pie-chart determine the questions given below.

Question 1. 

If the value of the market share of BOI is Rs. 4000 crores, then the market share of BOB and Axis bank together is

formulas for pie chart data interpretation

A. 24,363 crores
B. 24,432 crores
C. 24,864 crores
D. 25, 827 crores

Explanation :

You can see that BOI accounts for 11 % of the market share. And this 11 % is equal to the 4000 crores. So to calculate the total market share of BOB and axis the formula will be, 67/11 x 4000 = 24,363. Thus, the correct answer is A.

Question 2.

If the total market share other than Axis and BOB is Rs. 335,000 crores. Then find the market share of BOI and HDFC banks.

A. 274,560 crores
B. 274,090 crores
C. 274,809 crores
D. Cannot be determined

Explanation :

Here, from the pie-chart, you can determine that the total market share of Axis and BOB in terms of percentage is 67 % and this is equal to Rs. 335,000. In addition to this the other banks that are left accounts for 33 % which equates to 35,000 crores. HDFC and BOI equal the market share of 27 %. Thus, their market share in terms of crores is 27 x 335000/33 => 274090 crores. So, the correct answer is C.

Question 3.

 Find the approximate ratio of market share between BOI and BOB.

A. 1: 2
B. 3: 1
C. 1 : 3
D. Not possible

Explanation :

Take the market share of BOB and BOI and compare them both to find the ratio. As a result, the market share of BOB is given as 34 % and the market share of BOI is given as 11 %. So, the ratio of market share of BOI to a market share of BOB will be 11: 34. This will be close to 1 : 3. So, the correct answer is C.

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