Two numbers are less than a third number by 40% and 47% respectively. The percent by which the second number is less than the first is?

Sure, let's solve this step by step:

1. Let's assume the third number is 100 (this simplifies calculations and doesn't affect the result because we're dealing with percentages).

2. The first number is less than the third number by 40%, so it's 60 (100 - 40).

3. The second number is less than the third number by 47%, so it's 53 (100 - 47).

4. Now, we need to find the percent by which the second number (53) is less than the first number (60).

5. The difference between the first and the second number is 7 (60 - 53).

6. To find this difference as a percentage of the first number, we divide the difference by the first number and multiply by 100: (7 / 60) * 100 = 11.67%.

So, the second number is less than the first number by approximately 11.67%.