Basic Business Mathematics MCQ

1. Two variables are said to interact when ____.

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2.

 This question is based upon the figure shown below
 

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.

 

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3.

This question is based upon the figure shown below
 

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.

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4.

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?

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5.

This question is based upon the figure shown below

50%

100%

150%

200%

Answer

Correct Answer: 200%

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Check Answer

6.

This question is based upon the figure shown below
 

Calculate the median from the following table:

 

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7.

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.

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8.

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).

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9.

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

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10.

Find out the missing number in the following:

9/5 : 7/4 : : 3/5 : ______

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11.

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?

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12.

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.

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13.

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?

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14.

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

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15.

In which out of the following depreciation techniques does the company generate revenue and also estimate the asset value?

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16.

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?

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17.

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

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18.

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?

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19.

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%?

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20.

Depreciation expense is:

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21.

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

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22.

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?

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23.

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

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24.

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

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25.

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?

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26.

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?

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27.

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?

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28.

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

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29.

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

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30.

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.

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31.

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.

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32.

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.

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33.

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

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34.

This question is based upon the figure shown below

 

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

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35.

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.

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36.

This question is based upon the figure shown below

 

Which out the following scatter diagrams is likely to represent a complex relationship between two variables?

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37.

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?

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38.

This question is based upon the figure shown below

 

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

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39.

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?

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40.

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?

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41.

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

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42.

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

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43.

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.

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44.

Calculate the composite depreciation rate from the following table:

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45.

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

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46.

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?

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47.

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

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48.

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?

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49.

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.

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50.

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

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51.

$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?

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52.

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?

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53.

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

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