Business Mathematics & Statistics #6

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| By Dashing-khan
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Business Mathematics & Statistics #6 - Quiz

BUSINESS MATHEMATICS & STATISTICS


Questions and Answers
  • 1. 

    A, B and C play cricket. A's runs are to B's runs and B's runs are to C's as 3:2. They get altogether 342 runs. How many runs did A make?   

    • A.

      162

    • B.

      108

    • C.

      72

    • D.

      112

    Correct Answer
    A. 162
    Explanation
    The ratio of A's runs to B's runs is 3:2, which means that A scored 3 parts out of a total of 5 parts. To find A's runs, we need to divide the total runs (342) into 5 equal parts and then multiply it by 3.

    342/5 = 68.4

    68.4 * 3 = 205.2

    Therefore, A made 162 runs.

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  • 2. 

    The price of a P4 computer was $12000 last year. What is the price of the computer for this year if the price is decreased by 10%?   

    • A.

      $12000

    • B.

      $12500

    • C.

      $10800

    • D.

      $9000

    Correct Answer
    C. $10800
    Explanation
    The price of the computer for this year is $10800 because the price was decreased by 10% from last year's price of $12000. To calculate the new price, we multiply the original price by (1 - 0.10), which gives us $10800.

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  • 3. 

     Four friends take an IQ test. Their scores are 96, 100, 106, 114. Which of the following statements is true?

    • A.

      The mean is 103.

    • B.

      The mean is 104.

    • C.

      The median is 100.

    • D.

      The median is 106.

    Correct Answer
    B. The mean is 104.
    Explanation
    The mean is calculated by adding up all the scores and dividing by the number of scores. In this case, the sum of the four scores is 416 (96 + 100 + 106 + 114) and there are four scores. Therefore, the mean is 416 divided by 4, which equals 104.

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  • 4. 

     Percentage is a ratio of given number with standard number:       

    • A.

      100

    • B.

      Same number

    • C.

      1000

    • D.

      10

    Correct Answer
    A. 100
    Explanation
    The ratio of a given number to a standard number can be expressed as a percentage by multiplying the ratio by 100. In this case, the given number is the same as the standard number, so the ratio is 1:1. Multiplying this ratio by 100 gives us a percentage of 100%.

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  • 5. 

     The Virtual University of Pakistan is a growing distant learning university of Pakistan. The number of students in the university is increasing each year. The number of registered students in a course related to business math last year was 7113 and it is increased up to 9242 this year. What is the percentage increase in the number of students?     

    • A.

      23%

    • B.

      30%

    • C.

      18%

    • D.

      42%

    Correct Answer
    B. 30%
    Explanation
    The percentage increase in the number of students can be calculated by finding the difference between the number of students this year and last year, dividing it by the number of students last year, and then multiplying by 100. In this case, the increase is 9242 - 7113 = 2129. Dividing this by 7113 gives 0.2989. Multiplying by 100 gives approximately 29.89%, which can be rounded to 30%. Therefore, the correct answer is 30%.

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  • 6. 

     If A and B are any two matrices of order  and  respectively and m>n and p. What should be the condition on m, n, p, q for the product AB to hold?       

    • A.

      n>p

    • B.

      m

    • C.

      Q=p

    • D.

      N=p

    Correct Answer
    D. N=p
    Explanation
    For the product AB to hold, the number of columns in matrix A must be equal to the number of rows in matrix B. In this case, the number of columns in matrix A is n and the number of rows in matrix B is p. Therefore, the condition for the product AB to hold is that n must be equal to p.

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  • 7. 

    The price at which investors buy or sell a share of stock at a given time is referred as       

    • A.

      Face value

    • B.

      Market value

    • C.

      Accumulated value

    • D.

      Earning value

    Correct Answer
    B. Market value
    Explanation
    The price at which investors buy or sell a share of stock at a given time is referred to as the market value. This value is determined by the supply and demand in the market and represents the current worth of the stock. It is important for investors to consider the market value when making investment decisions as it reflects the perceived value of the stock by the market participants.

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  • 8. 

     Gross salary is also called Net salary      

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Gross salary and net salary are two different terms used in the context of salary. Gross salary refers to the total amount of salary earned by an employee before any deductions or taxes are taken out. Net salary, on the other hand, refers to the amount of salary that an employee receives after all deductions and taxes have been subtracted from the gross salary. Therefore, gross salary is not called net salary.

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  • 9. 

    Can we subtract a positive integer k from the identity matrix?     

    • A.

      Yes

    • B.

      No

    Correct Answer
    B. No
    Explanation
    The identity matrix is a square matrix with ones on the main diagonal and zeros elsewhere. Subtracting a positive integer k from the identity matrix would result in changing some of the ones on the main diagonal to a different value, which would violate the definition of an identity matrix. Therefore, we cannot subtract a positive integer k from the identity matrix.

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  • 10. 

    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 that the customer will pay.

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  • 11. 

     Division. Symbol: /  is  a type of     

    • A.

      Comparison operators

    • B.

      Concatenation operator

    • C.

      Reference operators

    • D.

      Arithmetic operators

    Correct Answer
    D. Arithmetic operators
    Explanation
    The given correct answer is "Arithmetic operators." Arithmetic operators are used to perform mathematical operations in programming. Division, symbolized by "/", is one of the arithmetic operators. It is used to divide one number by another and obtain the quotient. Therefore, division is a type of arithmetic operation, making the answer "Arithmetic operators" correct.

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  • 12. 

    Given :  List Price =5500Rs   , Discount = 850Rs, then  Net Cost Price will be      

    • A.

      6350 Rs

    • B.

      5508 Rs

    • C.

      5585 Rs

    • D.

      4650 Rs

    Correct Answer
    D. 4650 Rs
    Explanation
    The net cost price will be 4650 Rs. This can be calculated by subtracting the discount of 850 Rs from the list price of 5500 Rs. Therefore, 5500 Rs - 850 Rs = 4650 Rs.

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  • 13. 

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

    • A.

      Add by 100

    • B.

      subtract by 10

    • C.

      Multiply by 100

    • D.

      Divide by 100

    Correct Answer
    C. Multiply by 100
    Explanation
    To convert a number in percent (%) from a fraction, we multiply the fraction by 100. This is because percent means "per hundred," so we need to scale up the fraction to represent the value out of 100. Multiplying by 100 effectively moves the decimal point two places to the right, converting the fraction into a percentage.

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  • 14. 

     If is the matrix of dimension  and is the identity matrix of dimension . Then which of the following is true       

    • A.

      AI = I

    • B.

      AI = A

    • C.

      A + I = A

    • D.

      A + I = I

    Correct Answer
    B. AI = A
    Explanation
    The given question is asking about the multiplication of matrix A with the identity matrix I. In matrix multiplication, when a matrix is multiplied by the identity matrix, the result is the same matrix. Therefore, AI = A is true.

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  • 15. 

    If ratio of boys and girls in a class is 7: 5, which of the following can’t be the total number of the students in the class?     

    • A.

      36

    • B.

      50

    • C.

      60

    • D.

      120

    Correct Answer
    B. 50
    Explanation
    The ratio of boys to girls in the class is 7:5. This means that for every 7 boys, there are 5 girls. To find the total number of students in the class, we need to add the number of boys and girls together. If we assume that there are 7 boys and 5 girls, the total number of students would be 12. However, 50 cannot be the total number of students in the class because it does not fit the given ratio. Therefore, 50 is the correct answer.

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  • 16. 

    SLN returns the straight-line depreciation of an asset for      

    • A.

      Zero period

    • B.

      One period

    • C.

      Two period

    • D.

      Three periods

    Correct Answer
    B. One period
    Explanation
    The correct answer is "One period" because SLN calculates the straight-line depreciation of an asset over a specific period of time. In this case, it is calculating the depreciation for one period.

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  • 17. 

     Assume you will work for the next 20 years and at the end of each year you will deposit $20,000 into a savings account.  At the end of that 20 year period you will start withdrawing your retirement living expenses from that account at the beginning of every year.  This financial plan involves a _____ problem while you are working and a _____ problem while you are in retirement.     

    • A.

      A present value of a dollar, future value of a dollar

    • B.

      A future value of an annuity due, a present value of an annuity due

    • C.

      A future value of an annuity due, a present value of an ordinary annuity

    • D.

      A future value of an ordinary annuity, a present value of an annuity due

    • E.

      a future value of an ordinary annuity, a present value of an ordinary annuity

    Correct Answer
    B. A future value of an annuity due, a present value of an annuity due
    Explanation
    This financial plan involves a future value of an annuity due problem while you are working because you are depositing $20,000 at the end of each year, and a present value of an annuity due problem while you are in retirement because you will start withdrawing your retirement living expenses from that account at the beginning of every year.

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  • 18. 

     which of the following is linear equatio      

    • A.

      2x-3y=-6

    • B.

      X+x+x

    • C.

      520x²y²

    • D.

      Y^2 -3=0

    Correct Answer
    A. 2x-3y=-6
    Explanation
    The equation 2x-3y=-6 is a linear equation because it is in the form of y = mx + b, where m is the coefficient of x and b is the constant term. In this equation, x and y are both raised to the power of 1 and there are no other terms involving higher powers of x or y. Therefore, it represents a straight line when graphed.

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  • 19. 

    Given  FC = Rs.5000 ,CM= Rs. 30 ,VC= Rs. 150 , Capacity = 320units then BEP in units = 

    • A.

      4500 units

    • B.

      167 units

    • C.

      33 units

    • D.

      16 units

    Correct Answer
    B. 167 units
    Explanation
    The Break-Even Point (BEP) is the point at which total revenue equals total costs, resulting in neither profit nor loss. To calculate the BEP in units, we need to divide the fixed costs (FC) by the contribution margin per unit (CM). The contribution margin per unit is calculated by subtracting the variable costs per unit (VC) from the selling price per unit. In this case, FC is given as Rs. 5000, CM is given as Rs. 30, and VC is given as Rs. 150. By dividing FC by CM, we get 5000/30 = 166.67, which rounds up to 167 units. Therefore, the correct answer is 167 units.

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  • 20. 

     Find the Discount where price is 2000 and discount rate is 12%  Solution  Price = 2000  

    • A.

      Discount rate = 12%

    • B.

      Discount = Price * rate

    • C.

      Discount = 2000*12/100

    • D.

      Discount = 240

    Correct Answer
    D. Discount = 240
    Explanation
    The discount can be calculated by multiplying the price by the discount rate. In this case, the price is $2000 and the discount rate is 12%. Therefore, the discount would be $240.

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  • Current Version
  • Feb 15, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 20, 2009
    Quiz Created by
    Dashing-khan
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