General Business Mathematics MCQs

1. A car costs $9595 after 5% discount. What was its actual price?

2. 20% of a person's salary goes into his account as savings. He spends 10% of the remaining amount on buying clothes. If he has $720 as cash left with him, what is his salary?

3. $1470 is divided among Adam, Brian and Chris. The share of Adam is two-thirds of the combined share of Brian and Chris. How much money does Adam get?

4. A company lost 30% by selling its old furniture for $7000. How many percent would it have gained, had it sold it for $15000?

5. A company purchases an asset on April'05. The acquisition cost of the asset is $90000 and the expected life is 5 years. The residual value at the end of its useful life is $20000. Calculate the amount of depreciation for 2005, 2006, 2007 using the double declining balance depreciation method.

6. The compound interest earned over 5 years on a certain sum of money is $1000 at an interest rate of 20% per annum. How much interest would have been earned if simple interest had been charged instead of compound interest?

7. If the true discount on a bill is $150 and its present worth is $1500, what will be the banker's gain?

8. George and Michael start a business by investing $15000 and $20000 respectively. Michael leaves the business after 5 months but does not take back his invested amount while leaving. Samuel joins the same business after 5 months by investing $10000. There is a profit of $4000 at the end of the year. What is Samuel's share in the profit?

9. Find the selling price of an article when the cost price is $50 and the gain is 20%?

10.

Calculate the composite depreciation rate from the following table:

11. A banker's discount on $2000 at 10% is equal to a true discount on $3000. If the time and the rate are the same, calculate the time.

12. The true discount for an amount of $3100, due 6 months hence is $100. Calculate the rate percent of interest.

13. A shopkeeper sells 10 sweets for $1 and achieves a gain of 30%. How many sweets did he buy for $1?

14. If Peter's salary is 50% more than Michael's, by what percent is Michael's salary less than Peter's?

15. If the tax on wooden items is decreased by 30% and the sales increase by 10%, what effect will it have on the company's revenue?

16. George, Michael and Samuel together give $40,000 to Peter to start a business. George gives $5,000 more than Michael gives, and Michael gives $4,000 more than Samuel gives. Out of a total profit of $10,000 from the business, how much does Michael receive?

17. From the venn diagram, calculate the percentage of items common to stationery and promotional items.

18. Adam starts a business with an amount of $2000. After a few months, Brian joins Adam by investing $3000. If the profit is equally divided at the end of the year, after how much time had Brian joined the business?

19. Which scatter diagram is likely to represent a complex relationship between two variables?

20. Brian takes a loan of $20000 from a bank for a period of 2 years. If his EMI is $904.5, calculate the annual rate of interest at which he took the loan.

21. The table consists of the incentives achieved by the employees in an organization. Calculate the mode.

22. What happens to the purchasing power of money when the prices rise?

23. The EMI for a certain sum of money is $212.47. Calculate the loan amount if the rate of interest is 10% for a period of 5 years.

24. Calculate the compound interest earned over a period of 6 months on $30000 at an interest rate of 20% per annum. The interest is compounded quarterly.

25. The true discount on a bill due 5 months hence at a discount of 10% per annum is $2000. Calculate the amount of the bill.

26. How much will be the gain if the cost price of an article is $9 and its selling price is $11?

27. The value of a machine is $10000. What will be its worth after 2 years if the value depreciates at 15% per annum?

28. There are 3 salesmen in the sales team of a company. Adam achieved a sale of $500. The ratio of Adam and Brian's sale is 1:2. The ratio of Brian's sale to that of Chris is also 1:2. How much did Chris contribute to the sale?

29. Adam, Brian and Charlie start a business by investing $1400. Together Adam and Brian are supposed to do three seventh of the work in the business. What was Charlie's share at the start of the business?

30. The ratio of the price of a car and a motorcycle is 5:4. If the car costs $5000 more than the motorcycle, what is the price of the motorcycle?

31. Those assets which are used for more than one year are __________ assets.

32. If there is a 20% decrease in the demand for a product due to an increase of 20% in the price, the demand is:

33. The following is a group of problems occurring in an office which has been analyzed by the office in-charge. If the in-charge does the pareto analysis, what is the percentage of problems which need to be solved on an urgent basis?

34. The simple interest on a true discount of $100 for 3 years at a particular rate is $200. Calculate the sum.

35. Depreciation expense is:

36. A man sold his television for $160 and he suffered a loss of 20%. At what price should he have sold the television to have earned a gain of 20%?

37. Adam and Brian start a business by investing $50000 and $100000 respectively. They decide that they will divide the profit proportionate to their investment. If there is a profit of $18000, what is Brian's share?

38. The present worth of a bill due 4 years hence at 8% discount for $10000 is $7575.8. Calculate the true discount?

39. Mr. Smith and Mr. Peter are business partners. They agree to divide the annual profits in the ratio 5:6. If Mr. Peter's share is $30,000, what is the total amount to be shared between the two partners?

40. In which depreciation technique does the company generate revenue and also estimate the asset value?

41. How much will be the percentage of loss on an article if the cost price is $10 and the selling price is $8?

42. At the end of season sale, a company decided to hike the price of an automobile by 20%. By what percentage should the company decrease the new price in order to restore the original price?

43. A piece of equipment, which was calculated to have 3 years of life, was purchased by a company in March 2005 for $80000. After 3 years, the residual value shall be $20000. Calculate the depreciation expenses for 2005, 2006 and 2007 using the straight line depreciation method.

44. The cost of making a table is divided between materials, workers and transporters in the ratio of 5:6:1. If the cost of the table is $312, what will be the material cost of the table?

45. Find out the missing number in the following: 9/5 : 7/4 : : 3/5 : ______

46. Calculate the compound interest compounded half yearly for 1 year on $10000 at an interest rate of 6% per annum.

47. Andy takes a loan of $10000 from a bank for a period of 3 years at 10% annual rate of interest. Calculate his EMI(Equated Monthly Installment).

48. Adam and Brian start a business. Twice the investment made by Adam is equal to thrice the investment of Brian. Calculate Brian's share if there is a profit of $2500 in the business.

49. Calculate the median from the following table:

50. This question is based upon the figure shown below

51. Which method of computing depreciation determines that the depreciation of an asset is more when it is new and decreases as the asset becomes old?

52. In an office comprising 200 people, 25% people are between the age of 20-25 years, 35% between the age of 25-30 years, 30% between the age of 30-35 years and 10% above the age of 35 years. Calculate the total number of people working in the office between the age of 20-30 years.

53. The table consists of the daily sales made individually by 8 salesmen of a company for one week. Calculate the standard deviation of the sales made.

54. Two variables are said to interact when ____.