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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