Business Mathematics & Statistics #5

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Quizzes Created: 5 | Total Attempts: 2,789
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Business Mathematics & Statistics #5 - Quiz

BUSINESS MATHEMATICS & STATISTICS


Questions and Answers
  • 1. 

    If the price of an English novel decreases from Rs 255.50 to Rs 230.25. What is the percentage decrease?    

    • A.

      8.9 %

    • B.

      9.9 %

    • C.

      10.9%

    • D.

      11.9 %

    Correct Answer
    B. 9.9 %
    Explanation
    The percentage decrease can be calculated by finding the difference between the original price and the new price, dividing it by the original price, and then multiplying by 100. In this case, the difference between Rs 255.50 and Rs 230.25 is Rs 25.25. Dividing this by Rs 255.50 gives approximately 0.0989. Multiplying by 100 gives 9.89%, which rounds to 9.9%. Therefore, the correct answer is 9.9%.

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  • 2. 

    Reduction from original selling Price is called …    

    • A.

      Loss

    • B.

      List price

    • C.

      Profit

    • D.

      Markdown

    Correct Answer
    D. Markdown
    Explanation
    Reduction from the original selling price is called markdown. Markdown refers to the decrease in price or value of a product or service. It is commonly used in sales and promotions to attract customers by offering a lower price than the original selling price. Markdown helps to increase sales volume by creating a perception of a good deal for the customers.

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  • 3. 

     Write a formula to find the simple interest (I) if $5000 is invested at 4% for 2 years.    

    • A.

      I=PRT

    • B.

      I=P+R+T

    • C.

      I=PT

    • D.

      I=P(R+T)

    Correct Answer
    A. I=PRT
    Explanation
    The formula for finding simple interest is I = PRT, where I represents the interest, P represents the principal amount (in this case, $5000), R represents the rate (4%), and T represents the time period (2 years). Therefore, the correct answer is I = PRT.

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  • 4. 

    After marketing analysis, the Contribution Margin in rupees provided that  variable cost = Rs.400 & expected sale price is Rs.800 is:    

    • A.

      2

    • B.

      1/2

    • C.

      -400

    • D.

      400

    Correct Answer
    D. 400
    Explanation
    The contribution margin is calculated by subtracting the variable cost from the expected sale price. In this case, the variable cost is given as Rs.400 and the expected sale price is Rs.800. Therefore, the contribution margin would be Rs.800 - Rs.400 = Rs.400.

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  • 5. 

     The world is getting warmer — and U.S. scientists now know precisely how much warmer. They calculated the average percentage rise of 0.015% at the end of the century. If the current average temperature of the planet is X, what would be the average temperature of the earth at the end of 4008 AD?       

    • A.

      X(1+0.015)^2

    • B.

      X(1+0.015%)^2

    • C.

      2(1+)^0.015

    • D.

      X(1+X)0.015

    Correct Answer
    B. X(1+0.015%)^2
    Explanation
    The correct answer is X(1+0.015%)^2. This equation calculates the average temperature of the earth at the end of 4008 AD by taking the current average temperature (X) and multiplying it by 1 plus the percentage rise (0.015%) squared. This accounts for the average percentage rise of 0.015% at the end of the century, allowing us to estimate the future average temperature based on the current temperature.

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  • 6. 

     If the basic salary of an employee is 8, 000 Rs. allowances are 6000 Rs. and total cost of leaves per year is equal to 28280 Rs. then the cost of leaves as percent of gross salary is      

    • A.

      29.46%

    • B.

      16.83%

    • C.

      22.23%

    • D.

      28.28%

    Correct Answer
    B. 16.83%
    Explanation
    The cost of leaves is calculated by subtracting the total cost of leaves per year from the sum of the basic salary and allowances. In this case, the gross salary is 8000 Rs + 6000 Rs = 14000 Rs. The cost of leaves is 28280 Rs. Therefore, the cost of leaves as a percentage of the gross salary is (28280/14000) * 100 = 16.83%.

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  • 7. 

     If the interest rate 12%  and the number of payments are 15, then the accumulated factor is -----------------.  

    • A.

      32.28

    • B.

      34.28

    • C.

      35.28

    • D.

      37.28

    Correct Answer
    D. 37.28
    Explanation
    The accumulated factor is calculated using the formula (1 + i)^n, where i is the interest rate and n is the number of payments. In this case, the interest rate is 12% or 0.12 and the number of payments is 15. Plugging these values into the formula, we get (1 + 0.12)^15 = 1.3728. Therefore, the accumulated factor is 37.28.

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  • 8. 

    Stock represents a claim on the company's:       

    • A.

      Assets

    • B.

      Earning

    • C.

      Asset and earning

    • D.

      Share

    Correct Answer
    C. Asset and earning
    Explanation
    Stock represents a claim on the company's assets and earnings. This means that when an individual owns stock in a company, they have a share in the company's ownership and are entitled to a portion of the company's assets and earnings. This can include receiving dividends, which are a portion of the company's profits distributed to shareholders, as well as potentially benefiting from any increase in the value of the company's assets. Overall, owning stock in a company gives individuals a stake in the company's financial success.

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  • 9. 

    The negative of the negative of an odd number is:       

    • A.

      Negative

    • B.

      positive

    • C.

      The odd number

    • D.

      Does not exist

    Correct Answer
    C. The odd number
    Explanation
    The negative of a negative number is a positive number. Therefore, if we take the negative of an odd number, we get a negative number. And if we take the negative of that negative number, we will get the original odd number back. So, the negative of the negative of an odd number is the odd number itself.

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  • 10. 

       3x2 + 5x – 7 is ---------------   expression.         

    • A.

      Monomial

    • B.

      Binomial

    • C.

      Trinomial

    • D.

      Linear

    Correct Answer
    C. Trinomial
    Explanation
    The given expression, 3x^2 + 5x - 7, is a trinomial because it consists of three terms. A trinomial is an algebraic expression that contains three terms separated by addition or subtraction. In this case, the terms are 3x^2, 5x, and -7.

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  • 11. 

    If a and b are any two integers such that a:       

    • A.

      Positive

    • B.

      Negative

    • C.

      Canot be told

    • D.

      Zero

    Correct Answer
    B. Negative
    Explanation
    If a and b are any two integers such that a is negative, it means that the value of a is less than zero. This implies that a is a number that is to the left of zero on the number line. Therefore, the correct answer is negative.

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  • 12. 

     Which is the no when it multiply by 57 answer will be 1?       

    • A.

      1/57

    • B.

      -57

    • C.

      1

    • D.

      none

    Correct Answer
    A. 1/57
    Explanation
    When a number is multiplied by 57, the answer will be 1 if and only if the number is 1/57.

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  • 13. 

    The short cut method of showing a number is multiplied by itself is called:  

    • A.

      Superscript

    • B.

      Subscript

    • C.

      Exponent

    • D.

      None of these

    Correct Answer
    C. Exponent
    Explanation
    The correct answer is "Exponent". The exponent is a mathematical notation that indicates the number of times a number is multiplied by itself. It is represented by a superscript number placed to the right and above the base number. For example, in the expression 2^3, the base number is 2 and the exponent is 3, indicating that 2 is multiplied by itself 3 times.

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  • 14. 

    Net price =       

    • A.

      List price +trade discount

    • B.

      List price - trade discount

    • C.

      List price /trade discount

    • D.

      List price * trade discount

    Correct Answer
    B. List price - trade discount
    Explanation
    The net price is calculated by subtracting the trade discount from the list price. This means that the trade discount is being deducted from the original price to determine the final price after the discount has been applied.

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  • 15. 

    If a matrix has four column and 5 rows then its dimensions are:         

    • A.

      20

    • B.

      4x5

    • C.

      5x4

    • D.

      5x5

    Correct Answer
    C. 5x4
    Explanation
    The dimensions of a matrix are determined by the number of rows and columns it has. In this case, the matrix has 5 rows and 4 columns, so the dimensions are 5x4.

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  • 16. 

     Interest calculated upon the principal amount added to the interest on it is called…         

    • A.

      Simple interest

    • B.

      Compound interest

    • C.

      Annual interest per year

    • D.

      Semi annual interest

    Correct Answer
    B. Compound interest
    Explanation
    Compound interest is the correct answer because it refers to the interest calculated on both the initial principal amount and any accumulated interest. Unlike simple interest, which only takes into account the principal amount, compound interest allows for exponential growth as the interest is added back into the principal and earns additional interest over time. This makes compound interest a more powerful and effective way of earning interest on investments or loans.

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  • 17. 

    Anwar buys a pencil for Rs 3. He sells it for Rs 5. What is his Percent Markup on Selling Price?

    • A.

      20%

    • B.

      30%

    • C.

      40%

    • D.

      50%

    Correct Answer
    C. 40%
    Explanation
    The percent markup on selling price is calculated by subtracting the cost price from the selling price, dividing it by the cost price, and then multiplying by 100. In this case, the selling price is Rs 5 and the cost price is Rs 3. So, the markup is Rs 5 - Rs 3 = Rs 2. Dividing Rs 2 by Rs 3 and multiplying by 100 gives us 66.67%. However, since the answer choices only include whole numbers, the closest option is 40%.

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  • 18. 

    The value of x for the equation -(-x - 5) = x – 2  is ------------------

    • A.

      No solutions

    • B.

      -5

    • C.

      3

    • D.

      1 / 2

    Correct Answer
    A. No solutions
    Explanation
    The given equation is -(-x - 5) = x – 2. Simplifying the equation, we get x + 5 = x – 2. Subtracting x from both sides, we get 5 = -2. However, this is not possible as the equation is contradictory. Therefore, there are no solutions for the value of x that satisfy the equation.

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  • 19. 

     If x: y = y: 1, then: 

    • A.

      X = y

    • B.

      X = y^2 or X = y2

    • C.

      X = y / x

    • D.

      X = -y

    Correct Answer
    B. X = y^2 or X = y2
    Explanation
    The given equation "x: y = y: 1" represents a proportion. It states that the ratio of x to y is equal to the ratio of y to 1. To solve for x, we can cross-multiply the ratios. This gives us x = y * y or x = y^2. Therefore, the correct answer is X = y^2 or X = y2.

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  • 20. 

    Reduction from original selling Price is called ………       

    • A.

      Loss

    • B.

      List price

    • C.

      Profit

    • D.

      Markdown

    Correct Answer
    D. Markdown
    Explanation
    Markdown is the correct answer because it refers to the reduction in the original selling price of a product. Markdowns are commonly used in retail to attract customers by offering discounts on the original price. This term is often used interchangeably with "sale" or "discount" and is a common strategy used by businesses to increase sales and clear out inventory.

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  • 21. 

    After marketing analysis, the Contribution Margin in rupees provided that  variable cost = Rs.400 & expected sale price is Rs.800 is:         

    • A.

      2

    • B.

      1/2

    • C.

      -400

    • D.

      400

    Correct Answer
    D. 400
    Explanation
    The contribution margin is calculated by subtracting the variable cost from the expected sale price. In this case, the variable cost is given as Rs.400 and the expected sale price is Rs.800. Therefore, the contribution margin would be Rs.800 - Rs.400 = Rs.400.

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  • 22. 

     If the basic salary of an employee is 8, 000 Rs. allowances are 6000 Rs. and total cost of leaves per year is equal to 28280 Rs. then the cost of leaves as percent of gross salary is:      

    • A.

      29.46%

    • B.

      16.83%

    • C.

      22.23%

    • D.

      28.28%

    Correct Answer
    B. 16.83%
    Explanation
    The cost of leaves as a percent of gross salary can be calculated by dividing the total cost of leaves by the sum of the basic salary and allowances, and then multiplying by 100. In this case, the total cost of leaves is 28280 Rs and the sum of the basic salary and allowances is 14000 Rs. Therefore, the cost of leaves as a percent of gross salary is (28280/14000) * 100 = 16.83%.

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  • 23. 

    Stock represents a claim on the company's:       

    • A.

      Assets

    • B.

      Earning

    • C.

      Asset and earning

    • D.

      Share

    Correct Answer
    C. Asset and earning
    Explanation
    Stock represents a claim on the company's assets and earnings. This means that by owning stock in a company, an individual has a right to a portion of the company's assets and a share in its profits. As a stockholder, one can benefit from the company's growth and success through dividends and capital appreciation. Stock ownership also grants certain rights and privileges, such as voting rights in corporate decisions. Therefore, stock represents a financial stake in the company's overall performance and value.

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  • 24. 

     3x2 + 5x – 7 is ---------------   expression.         

    • A.

      Monomial

    • B.

      Binomial

    • C.

      Trinomial

    • D.

      Linear

    Correct Answer
    C. Trinomial
    Explanation
    The given expression 3x^2 + 5x - 7 has three terms, making it a trinomial. A trinomial is an algebraic expression that consists of three terms separated by addition or subtraction. In this case, the terms are 3x^2, 5x, and -7. Therefore, the correct answer is trinomial.

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  • 25. 

     Which is the no when it multiply by 57 answer will be 1?       

    • A.

      1/57

    • B.

      -57

    • C.

      1

    • D.

      none

    Correct Answer
    A. 1/57
    Explanation
    If a number is multiplied by 57 and the answer is 1, then the number must be the reciprocal of 57, which is 1/57.

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  • Current Version
  • Nov 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 20, 2009
    Quiz Created by
    Dashing-khan
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