MCQ 11 Mark
If $a \%$ is the discount per cent on a marked price $x,$ then discount is:
- A
$\frac{\text{x}}{\text{a}}\times100$
- B
$\frac{\text{a}}{\text{x}}\times100$
- ✓
$\text{x}\times\frac{\text{a}}{100}$
- D
$\frac{100}{\text{x}\times\text{a}}$
AnswerCorrect option: C. $\text{x}\times\frac{\text{a}}{100}$
Since, discount can be calculated always on marked price, when discount percentage is given.
Discount $=$ Discount $\%$ on marked price$=\text{x}\times\frac{\text{a}}{100}$
Hence, option $(c)$ is correct.
View full question & answer→MCQ 21 Mark
Suppose a certain sum doubles in $2$ years at $r \%$ rate of simple interest per annum or at $R\%$ rate of interest per annum compounded annually. We have
- A
$r < R$
- ✓
$R < r$
- C
$R = r$
- D
AnswerCorrect option: B. $R < r$
If the total amount received after $2\ yr$ is same for both simple interest and compound interest on same principal, then the rate of simple interest is greater than the rate of compound interest. i.e., $R < r$
Hence, option $(b)$ is correct.
View full question & answer→MCQ 31 Mark
A bought a tape recorder for $Rs. 8,000$ and sold it to $B. B$ in turn sold it to $C,$ each earning a profit of $20\%.$ Which of the following is true:
- A
$A$ and $B$ earn the same profit.
- B
$A$ earns more profit than $B.$
- ✓
$A$ earns less profit than $B.$
- D
AnswerCorrect option: C. $A$ earns less profit than $B.$
Cost price of tape recorder for $Rs. 8000$
Cost price of tape recorder for $B =20\%$ profit on cost price for $A$
$=\frac{20}{100}\times9600+9600$$=1929+9600=\text{Rs}. 11520$
Here, profit for $A= Rs. 1600$
Profit for $B = Rs. 1920$
So, $A$ earns less profit than $B.$
Hence, option $(c)$ is correct.
View full question & answer→MCQ 41 Mark
A jacket was sold for $Rs. 1,120$ after allowing a discount of $20\%$. The marked price of the jacket is:
- A
$Rs. 1440$
- ✓
$Rs. 1400$
- C
$Rs. 960$
- D
$Rs. 866.66$
AnswerCorrect option: B. $Rs. 1400$
Let the marked price of the jacket be $Rs. x.$
Discount $\%$ on marked price $= 20\%$
Selling price of jacket $= Rs. 1120$
Then, $1120=\text{x}-\text{x}\times\frac{20}{100}$
$1120=\text{x}-\frac{\text{x}}{5}$
$1120=\frac{4\text{x}}{5}$
$\text{x}=\frac{1120\times5}{4}=280\times5=\text{Rs.} 1400$
So, marked price of jacket is $Rs. 1400$
Hence, option $(b)$ is correct
View full question & answer→MCQ 51 Mark
To gain $25\%$ after allowing a discount of $10\%,$ the shopkeeper must mark the price of the article which costs him $Rs. 360$ as:
- ✓
$Rs. 500$
- B
$Rs. 450$
- C
$Rs. 460$
- D
$Rs. 486$
AnswerCorrect option: A. $Rs. 500$
Let the marked price of the article be $Rs. x.$
Cost price of the article $= Rs. 360$
According to the question,
$\text{x}-\text{x}\times\frac{10}{100}-\frac{25\times360}{100}=360$
$\text{x}-\frac{\text{x}}{10}-90=360$
$\frac{9\text{x}}{10}=360+90$
$\text{x}=\frac{450\times10}{9}$
$\frac{9\text{x}}{10}=450$
$x = Rs. 500$
So, the marked price is $Rs. 500$
Hence, option $(a)$ is correct.
View full question & answer→MCQ 61 Mark
Ashima took a loan of $Rs. 1,00,000$ at $12\%$ p.a. compounded halfyearly. She paid $Rs. 1,12,360.$ If $(1.06)2$ is equal to $1.1236,$ then the period for which she took the loan is:
- A
$2$ years
- ✓
$1$ year
- C
$6$ months
- D
$1\frac{1}{2}$ Years
AnswerCorrect option: B. $1$ year
Given, principal $(P) = Rs.100000$
Rate of interest $(R\%) = 12\%$ per annum compounded half-yearly
Let $m$ be the time period, $v$ Amount paid $= Rs.112360$
We know that,
Amount, when interest is compound half-yearly
i.e., $\text{A}=\text{P}\Big(1+\frac{\text{R}}{200}\Big)^\text{2n},$ where $n =$ time period
$112360=100000\Big(1+\frac{\text{12}}{100}\Big)^\text{2m}$
$\Big(\frac{53}{50}\Big)^{2\text{m}}=\frac{112360}{100000}$
$\Big(\frac{53}{50}\Big)^{2\text{n}}=\frac{2809}{2500}$
$\Big(\frac{53}{50}\Big)^{2\text{}}=\Big(\frac{53}{50}\Big)^{2\text{n}}$
On comparing both sides, we get
$2n = 2$
$n = 1$
So, the time period is $1\ yr.$
Hence, option $(b)$ is correct.
View full question & answer→MCQ 71 Mark
Radhika bought a car for $Rs. 2,50,000.$ Next year its price decreased by $10\%$ and further next year it decreased by $12\%.$ In the two years overall decrease per cent in the price of the car is:
- A
$3.2\%$
- B
$22\%$
- ✓
$20.8\%$
- D
$8\%$
AnswerCorrect option: C. $20.8\%$
Radhika bought a car for $Rs. 250000.$
Cost price of a car $= Rs.250000$
Its price decreased next year for $10\%$
So, price became$=250000-\frac{10}{100}\times250000$
$= 250000 − 25000 = Rs. 225000$
Further next year, its price decreased by $12\%,$ then price will be
View full question & answer→MCQ 81 Mark
A $TV$ set was bought for $Rs. 26,250$ including $5\%\ VAT.$ The original price of the $TV$ set is:
- A
$Rs. 27,562.50$
- B
$Rs. 25,000$
- ✓
$Rs. 24,937.50$
- D
$Rs. 26,245$
AnswerCorrect option: C. $Rs. 24,937.50$
Cost price of $TV$ set $= Rs. 26250.$
$VAT$ including $= 5\%$
Original price $=$ Cost price of article including $VAT=26250\times\frac{5}{100}\times26250$
$=26250-\frac{26250}{20}=26250-1312.5$
So, original price of the $TV$ set $= Rs. 24937.50$
Hence, option $(c)$ is correct.
View full question & answer→MCQ 91 Mark
Avinash bought an electric iron for $Rs. 900$ and sold it at a gain of $10\%.$ He sold another electric iron at $5\%$ loss which was bought $Rs. 1200.$ On the transaction he has a:
- A
Profit of $Rs. 75$
- B
Loss of $Rs. 75$
- ✓
Profit of $Rs. 30$
- D
Loss of $Rs. 30$
AnswerCorrect option: C. Profit of $Rs. 30$
Avinash bought an electric iron $= Rs. 900$
He sold it, at $10\%$ profit.
So, selling price of the electric iron$=\frac{10}{100}\times900+900=90+900=\text{Rs.}990$
He also sold another electric iron at $5\%$ loss.
Cost price of another electric iron $= Rs.1200$
So, selling price of the electric iron$=1200\times\frac{5}{100}\times1200$
$=1200-60=\text{Rs.}1140$
Total amount paid by Avinash for purchasing electric irons $= Rs. 900 + Rs.1200 =Rs.2100$ Total received amount =$ Rs. 990 + Rs. 1140 = Rs. 2130$ So, his profit $= Rs.2130- Rs.2100 = Rs.30$ in transaction.
Hence, option $(c)$ is correct.
View full question & answer→MCQ 101 Mark
Latika bought a teapot for $Rs. 120$ and a set of cups for $Rs. 400.$ She sold teapot at a profit of $5\%$ and cups at a loss of $5\%. $ The amount received by her is:
- A
$Rs. 494$
- B
$Rs .546$
- ✓
$Rs. 506$
- D
$Rs. 534$
AnswerCorrect option: C. $Rs. 506$
Latika bought a teapot $= Rs. 120$ and a set of cups $= Rs. 400$
She sold teapot at a prot of $5\%,$
So, selling price of teapot$=\frac{5}{100}\times120+120$
$=\frac{120}{20}+120$
$= 6 + 120 = Rs. 126$
Also, she sold cups at a loss of $5\%.$ So, selling price of cups$=400-\frac{5}{100}\times400$
$= 400 - 20 = Rs. 380$
Then, the total amount received by her $= Rs. 126 + Rs. 380 = Rs. 506$
Hence, option $(c)$ is correct.
View full question & answer→MCQ 111 Mark
If $90\%$ of $x$ is $315\ km,$ then the value of $x$ is:
- A
$325\ km$
- ✓
$350\ km$
- C
$350m$
- D
$325m$
AnswerCorrect option: B. $350\ km$
We have $90\ %$ of $x = 315\ Km$
$\frac{90}{100}\times\text{x}=315$
$\text{x}=\frac{315\times100}{90}=\frac{315\times10}{9}=350$
$x = 350\ km$
Hence, option $(b)$ is correct.
View full question & answer→MCQ 121 Mark
A sum is taken for two years at $16\%$ p.a. If interest is compounded after every three months, the number of times for which interest is charged in $2$ years is:
AnswerSince, rate of interest is calculated after every three months.
Similarly, the time period for amount in a year will $4$ times.
If amount is taken for $2\ yr,$ means $4 × 2 = 8$ times charged in $2\ yr.$
Hence, option $(a)$ is correct
View full question & answer→MCQ 131 Mark
For calculation of interest compounded half yearly, keeping the principal same, which one of the following is true.
- A
Double the given annual rate and half the given number of years.
- B
Double the given annual rate as well as the given number of years.
- C
Half the given annual rate as well as the given number of years.
- ✓
Half the given annual rate and double the given number of years.
AnswerCorrect option: D. Half the given annual rate and double the given number of years.
If interest is compounded half-yearly, then $\text{R}=\frac{\text{R}}{2}$ and $T = 2T = 2n$ Now, the amount will be
$\text{A}=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{2\text{n}}$
$C = A - P$
So, half the given annual rate and double the given number of years.
Hence, option $(d)$ is correct
View full question & answer→MCQ 141 Mark
The compound interest on $Rs. 50,000$ at $4\%$ per annum for $2$ years compounded annually is:
- A
$Rs. 4,000$
- ✓
$Rs. 4,080$
- C
$Rs. 4,280$
- D
$Rs. 4,050$
AnswerCorrect option: B. $Rs. 4,080$
Given, principal $(P) = Rs. 50000$
Rate of interest $(R\%) = 4\%$ per annum
Time period $(T) = 2\ yr$
We know that,
$\text{A}=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{\text{T}}$
$\text{A}=50000\Big(1+\frac{4}{100}\Big)^2$
$=50000\Big(1+\frac{1}{25}\Big)^2=50000\times\frac{26}{25}\times\frac{26}{25}$
$= 60 × 25 × 26 = Rs. 54080$
Compound interest, $CI = A − p = Rs. 54080 − Rs. 50000$
$= Rs. 4080$
View full question & answer→MCQ 151 Mark
$40\%$ of $[100 – 20\%$ of $300]$ is equal to:
Answer$40\%$ of $[100-20\%$ of $300]$
$=\frac{40}{100}\times\Big[100-\frac{20}{100}\times300\Big]$
$=\frac{40}{100}[100-60]$
$=\frac{40}{100}\times40=4\times4=16$
Hence, option $(b)$ is correct
View full question & answer→MCQ 161 Mark
Suppose for the principal $P,$ rate $R\%$ and time $T,$ the simple interest is $S$ and compound interest is $C$. Consider the possibilities.
$i. C > S$
$ii. C = S$
$iii.C < S$
Then
AnswerCorrect option: A. only $(i)$ is correct.
Let the principle $(p) = Rs.100$
Rate of interest $(R) = 100\%$ and time period$(T) = 2\ Yr.$
Then, simple interest$=\frac{\text{P}\times\text{R}\times\text{T}}{100}=\frac{100\times10\times2}{100}=\text{Rs}.20$
$\text{A}=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^\text{T}=100\Big(1+\frac{10}{100}\Big)^2$
$=100\times\frac{11}{10}\times\frac{11}{10}=\text{Rs}.20$
Compound interest, $CI = A - P = Rs. 121 - Rs. 100 = Rs. 21$
So, $C > S$
Hence, option $(a)$ is correct.
View full question & answer→MCQ 171 Mark
The original price of a washing machine which was bought for $Rs. 13,500$ inclusive of $8\%$ $VAT$ is
- ✓
$Rs. 12,420$
- B
$Rs. 14,580$
- C
$Rs. 12,500$
- D
$Rs. 13,492$
AnswerCorrect option: A. $Rs. 12,420$
$VAT [$Value Added Tax$]$ is included in selling price, which is $8\%.$
The original price of the washing machine including of $8\% VAT$
$=13500-13500\times\frac{8}{100}$
$=13500-135\times8=13500-1080=\text{Rs.}12420$
Hence, option (a) is correct.
View full question & answer→MCQ 181 Mark
If marked price of an article is $Rs. 1,200$ and the discount is $12\%$ then the selling price of the article is:
- ✓
$Rs. 1,056$
- B
$Rs. 1,344$
- C
$Rs. 1,212$
- D
$Rs. 1,188$
AnswerCorrect option: A. $Rs. 1,056$
Given, marked price of an article $= Rs. 1200$
Discount $\% = 12\%$ Discount $=$ Discount $\%$ on marked price $= A × 1200 = 12 × 12 = Rs. 144$
Selling price $=$ Marked price $–$ Discount Selling price
$= Rs. 11200 – Rs. 144 = Rs. 1056$
Hence, option $(a)$ is correct.
View full question & answer→MCQ 191 Mark
The marked price of an article is $Rs. 80$ and it is sold at $Rs.76,$ then the discount rate is:
- ✓
$5\%$
- B
$95\%$
- C
$10\%$
- D
appx. $11\%$
AnswerThe marked price of an article $= Rs. 80$ Sold price of the article $= Rs. 76$ We know that,
Selling price $=$ Marked price $–$ Discount price
Discount $= Rs. 80 − Rs. 76 = Rs. 4$
Discount$\% =$ $\frac{4}{80}\times100=\frac{40}{80}=5\%$
Hence, option $(a)$ is correct.
View full question & answer→MCQ 201 Mark
Shyama purchases a scooter costing $Rs. 36,450$ and the rate of sales tax is $9\%,$ then the total amount paid by her is:
- A
$Rs. 36,490.50$
- ✓
$Rs. 39,730.50$
- C
$Rs. 36,454.50$
- D
$Rs. 33,169.50$
AnswerCorrect option: B. $Rs. 39,730.50$
Since, sales tax is charged on the sale of an item by the government and is added to the bill amount.
Shyama purchase a scooter of costing $= Rs. 36450$
Sales tax paid $= 9\%$
So, total amount paid by her $= Rs. 36450$ of $9\% + Rs. 36450$
$=\frac{9}{100}\times36450+36450$
$= 9 × 364.5 + 36450 = 3280.5 + 36450 = Rs. 39730.5$
Hence, option $(b)$ is correct.
View full question & answer→