Basic Mathematics – 1

MCQs about Basic Business and Applied Mathematics for the preparation of Exams related to CA, CIMA, ICMAP, and MBA. MCQs cover many Business-related fields (such as Business Administration, Commerce, and chartered accountancy-related Institutes) in which the subject of Business Mathematics is taught.

This quiz covers topics related to Business and Applied mathematics such as selling price, revenue, cost, profit, retail price, marked price, rates, ratio, and basic arithmetics, etc.

1. If the selling price of an item is greater than its cost price, then we earn

 
 
 
 

2. The price at which a particular item is purchased by a shopkeeper is known as

 
 
 
 

3. A phone was purchased for £4000 and sold for £4800. The profit percentage should be

 
 
 
 

4. A deduction that is offered on the mp or the list price of items by the seller to the purchaser is called

 
 
 
 

5. Marked price – sales price is equal to

 
 
 
 

6. (Loss⁄Cost Price) $\times$ 100 is equal to

 
 
 
 

7. A trader sold a television for $1500. The price should he sell to get a profit of 20% is

 
 
 
 

8. The marked price of a fan is £850, it is sold for £800. The percentage discount allowed is

 
 
 
 

9. (Selling Price – Cost Price) is called

 
 
 
 

10. (Cost Price – Selling Price ) is equal to

 
 
 
 

11. (Cost price – Loss) is equal to

 
 
 
 

12. (Profit  ⁄ Cost Price) $\times$ 100 is equal to

 
 
 
 

13. If the sales price is 672 and the profit is 5%, then the cost price should be

 
 
 
 

14. (Profit + cost) price is equal to

 
 
 
 

15. During the sale, a shop offers a discount of 8% on the marked price. If the marked price is $5500, then the purchase price of an oven should be

 
 
 
 

16. If the selling price is selling price, the cost price is cost price, we get a loss when

 
 
 
 

17. Sara and Ali earned a profit of $500,000 from a business and their ratio of investment was 5:8, respectively. The profit of each should be

 
 
 
 

18. The annual income of a person is £530,000 and the exempted amount is £280,000. The income tax payable at the rate of 0.75% would be

 
 
 
 

19. If the capital of partners are invested for the same length of time, the partnership is said to be
none of the above

 
 
 
 

20. (Discount  ⁄  MP) $\times$ 100 is equal to

 
 
 
 

Mathematics of Finance

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