Quiz: Business Mathematics & Statistics #3

27 Questions | Total Attempts: 302

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Quiz: Business Mathematics & Statistics #3 - Quiz

BUSINESS MATHEMATICS & STATISTICS


Questions and Answers
  • 1. 
    The Basic salary of an employee is Rs 7,000.  What is the contribution of the company on account of gratuity to the Gratuity Trust Fund?
    • A. 

      Rs 636.36

    • B. 

      Rs 6363.6

    • C. 

      Rs 63.636

    • D. 

      Rs 6363

  • 2. 
    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 %

  • 3. 
     45% of what is 9?
    • A. 

      20

    • B. 

      40

    • C. 

      30

    • D. 

      10

  • 4. 
     Suppose that you are spending 1500 dollars in an investment and Accumulated factor is 15 then Accumulated Value will be ........
    • A. 

      22550

    • B. 

      22500

    • C. 

      21000

    • D. 

      22510

  • 5. 
     If the salary of an employee is as follows:             Basic salary = 12,000 Rs.                                                                  Allowances  =   9,000 Rs.           then the taxable income of employee is ------       
    • A. 

      Rs. 12,000

    • B. 

      Rs. 21,000

    • C. 

      Rs. 15,000

    • D. 

      Rs. 9000

  • 6. 
     Sale price is the selling price less the ________.
    • A. 

      Markdown

    • B. 

      Revenue

    • C. 

      Cost

    • D. 

      Profit

  • 7. 
     Discounts that are deducted one after the other from the list price are called ____ .
    • A. 

      Series trade discount

    • B. 

      Inconsequential trade discounts

    • C. 

      Spontaneous trade discounts

    • D. 

      Earned trade discounts

  • 8. 
    Find x if 3x + 7 – x = 17.       
    • A. 

      5

    • B. 

      4

    • C. 

      12

    • D. 

      -5

  • 9. 
      Which statement is true?      
    • A. 

      Social charges comprise the leaves, group insurance and medical.

    • B. 

      Social charges comprise House rent and conveyance allowance.

    • C. 

      Social charges comprise gratuity and provident funds.

    • D. 

      Social charges comprise employee’s children’s education, club membership only.

  • 10. 
       3x2 + 5x – 7 is ---------------   expression.       
    • A. 

      Monomial

    • B. 

      Binomial

    • C. 

      Trinomial

    • D. 

      Linear

  • 11. 
     The sequence of payments at equal interval of time is called:
    • A. 

      Annuity

    • B. 

      Accumulated value

    • C. 

      Discounted value

    • D. 

      None of these

  • 12. 
      …….. Arithmetic operations provide the foundation for all mathematical operations are:
    • A. 

      4

    • B. 

      5

    • C. 

      3

    • D. 

      6

  • 13. 
    Markup is an amount added to:
    • A. 

      Get accumulated interest

    • B. 

      A cost price while calculating a selling price.

    • C. 

      The principal amount of the loan.

    • D. 

      Accumulation factor.

  • 14. 
     If for the next 8 years you save Rs. 20,000 per six months then how much will you have accumulated at the end of 8 years. Payments are to be made at the end of each annuity period, assume an interest of 8% compounded quarterly? Which function can give you correct answer of above question?
    • A. 

      FV(0.08, 8, 20000, 0,0)

    • B. 

      FV(0.08, 8, 20000, 0, 1)

    • C. 

      FV(0.08/2, 8*4, 20000, 0, 0)

    • D. 

      PV(0.08/2, 8*4, 20000, 0, 0)

  • 15. 
     To add numbers based on multiple conditions we use:
    • A. 

      IF and SUM functions

    • B. 

      DSUM function.

    • C. 

      AVERAGE function.

    • D. 

      All functions given in above choices .

  • 16. 
    To add numbers based on criteria stored in a separate range we use:
    • A. 

      IF and SUM functions.

    • B. 

      DSUM function.

    • C. 

      AVERAGE function.

    • D. 

      all functions in above given choices.

  • 17. 
    If cost is half of the selling price S of a goods item, what is the markup of the goods item?
    • A. 

      S

    • B. 

      S- ½ Cost

    • C. 

      ½ Cost

    • D. 

      ½ S

  • 18. 
    To convert a number in percent (%) from a fraction, we do which of the following operation:
    • A. 

      Add by 100

    • B. 

      subtract by 100

    • C. 

      Multiply by 100

    • D. 

      Divide by 100

  • 19. 
     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%

  • 20. 
     If A= [a b c] is a matrix then in order to find AB, the number of columns B must have are ....... 
    • A. 

      3

    • B. 

      1

    • C. 

      2

    • D. 

      Any non zero number

  • 21. 
    Given Net price of shirt = $20, Discount =  10%, List price will ....
    • A. 

      $22

    • B. 

      $24

    • C. 

      $26

    • D. 

      $30

  • 22. 
    Which of the following is linear equation?  
    • A. 

      2x-3y=-6

    • B. 

      x+x+x

    • C. 

      520x²y²

    • D. 

      Y^2 -3=0

  • 23. 
    The point at which no profit is made and no losses are incurred is said to be:
    • A. 

      Fixed Cost point

    • B. 

      Contribution Margin

    • C. 

      Break even point

    • D. 

      Contribution Rate

  • 24. 
    Percentage of ratio of given number with standard number is...
    • A. 

      100

    • B. 

      Same number

    • C. 

      1000

    • D. 

      10

  • 25. 
     A golf shop pays its wholesaler $40 for a certain club, and then sells it for $75. What is the markup rate?
    • A. 

      %Markup on cost = Selling price – Cost price ×100% Cost price

    • B. 

      %Markup on cost = {(75-40)/40} * 100

    • C. 

      %Markup on cost = 87.5%

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