Comparing Quantities Test - 16

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Comparing Quantities Test - 16

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Weekly Quiz Competition

Question 1
1 / -0

Two-third of one-seventh of a number is $$87.5$$% of $$240$$. What is the number?

A
$$2670$$

B
$$2450$$

C
$$2205$$

D
$$1470$$

Solution

Given, $$\dfrac {2}{3}$$ of $$\dfrac {1}{7}$$ of a number say $$x$$ is $$87.5\%$$ of $$240$$.
$$\therefore \displaystyle \frac{2}{3}\times\frac{1}{7}\times x=\frac{87.5}{100}\times240$$

$$\displaystyle \Rightarrow x =\frac{87.5\times240\times3\times7}{2\times100}=2205$$
therefore, the number is $$2205$$.
Question 2
1 / -0

An example of property tax

A
Wealth tax

B
Income tax

C
Sales tax

D
Excise duty

Solution

Property tax refers to the annual amount paid by a property owner to the local government or the municipal corporation of his/her area. Property tax is a kind of direct tax levied directly on properties such as real estate property, shop, house, office building, rented properties and land.
It is a tax based on the market value of assets that are owned.
Thus, wealth tax is an example of property tax.
Hence, option A is correct.
Question 3
1 / -0

What will be the difference between simple and compound interest at 10% per annum on a sum of Rs. 1000 after 4 years?

A
Rs. 31

B
Rs. 32.10

C
Rs. 40.40

D
Rs. 64.10

Solution

Principal=1000 Rs.
Time=4 years
Rate of interes=10%
Then Simple interest $$=\frac{1000\times 10\times 4}{100}=400 Rs.$$
Compound interest $$=$$ Amount $$-$$ Principal
Amount $$=1000(1+\frac{10}{100})^4$$
$$\Rightarrow 1000\times \frac{110}{100}\times \frac{110}{100}\times \frac{110}{100}\times \frac{110}{100}\times $$
$$\Rightarrow 1464.10 Rs.$$
$$C.I.=1464.10-4000=464.10 Rs.$$
Difference between C.I and S.I.=$$464.10-400=64.10 Rs.$$
Question 4
1 / -0

Tax on imports is an example of __________

A
Indirect tax

B
Trade barrier

C
Sales tax

D
Direct tax

Solution

Any restriction imposed on the free flow of trade is a trade barrier. Trade barriers can either be tariff barriers (the levy of ordinary negotiated customs duties in accordance with Article II of the GATT) or non-tariff barriers, which are any trade barriers other than tariff barriers
Tax on imports is an example of Trade Barrier.
Question 5
1 / -0

The correct relationship is

A
$$A+C.I=P$$

B
$$C.I-P=A$$

C
$$C.I=A-P$$

D
None of these

Solution

$$\text{Compound Interest} (C.I) = \text{Amount} (A) - \text{Principal} (P)$$
$$C.I = A - P$$
Question 6
1 / -0

A shopkeeper prefers to sell his goods at the cost price but uses a weight of 800 gm instead of 1 kg weight. He earns of profit of

A
2%

B
8%

C
20%

D
25%

Solution

Let CP of $$1 gm =Re1$$
Given : he sells $$800 gm$$ instead of $$1000 gm(1 kg)$$
So, CP of $$800gm=800Rs$$.
SP of $$800gm$$= CP of $$1000gm=1000Rs.$$
Profit=$$1000−800=Rs.200$$
Profit %=$$ \dfrac {200}{800}×100=25$$
Question 7
1 / -0

Mechanic Raj purchased a motorcycle for Rs. 20,000 and sold it at 5% loss. Its selling price is

A
$$Rs.\displaystyle\frac{5}{100}\times 20,000$$

B
$$Rs.\displaystyle\frac{95}{100}\times 20,000$$

C
$$Rs.\displaystyle\frac{105}{100}\times 20,000$$

D
$$Rs.\displaystyle\frac{100}{95}\times 20,000$$

Solution

$$Cost = Rs 20000$$
$$Loss = 5$$%
$$Loss = \frac{5 \times 20000}{100}$$
$$SP = CP - Loss$$
$$SP = 20000 - \frac{5 \times 20000}{100}= Rs \frac{95 \times 20000}{100}$$
Question 8
1 / -0

Which of the following is a direct tax?

A
Excusive

B
Sales Tax

C
Income Tax

D
None of these

Solution

A direct tax is a tax, which is levied on the income or profits of the person who pays it, rather than on goods or services. A direct tax is paid directly by an individual or organisation to an imposing entity.
A taxpayer, for example, pays direct taxes to the government for different purposes, including real property tax, personal property tax, income tax or taxes on assets.
Therefore, income tax is a direct tax.
Hence, option C is correct.
Question 9
1 / -0

If the selling price of 50 articles is equal to the cost price of 40 articles then the loss and gain percent is

A
20% gain

B
20% loss

C
25% loss

D
25% gain

Solution

Let C.P of one article =1 Rs.
Then C.P of 40 article=40 Rs.
According to the question
S.P of 50 article =C.P of 40 article=40 Rs.
We assume that C.P of one article =1Rs.
then C.P of 50 article=50 Rs.
Loss=50-40=10 Rs.
Loss %=$$\frac{10}{50}\times 100=20$$%
Question 10
1 / -0

A man bought a number of clips at 3 for a rupee and an equal number at 2 for a rupee At what price per dozen should he sell them to make a profit of 20%?

A
Rs 4

B
Rs 5

C
Rs 6

D
Rs 7

Solution

Let he bought 1 dozen clips of each kind.
C.P of 2 dozen=$$\frac{1}{3}\times 12+\frac{1}{2}\times 12=10 Rs$$
S.P of 2 dozen=$$120\% of 10 = Rs\dfrac{120}{100}\times 10=12 Rs$$
Hence S.P per dozen=6 Rs.

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Comparing Quantities Test - 16

Result

Comparing Quantities Test - 16

Score

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Rank

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Question 1

$$2670$$

$$2450$$

$$2205$$

$$1470$$

Solution

Question 2

Wealth tax

Income tax

Sales tax

Excise duty

Solution

Question 3

Rs. 31

Rs. 32.10

Rs. 40.40

Rs. 64.10

Solution

Question 4

Indirect tax

Trade barrier

Sales tax

Direct tax

Solution

Question 5

$$A+C.I=P$$

$$C.I-P=A$$

$$C.I=A-P$$

None of these

Solution

Question 6

2%

8%

20%

25%

Solution

Question 7

$$Rs.\displaystyle\frac{5}{100}\times 20,000$$

$$Rs.\displaystyle\frac{95}{100}\times 20,000$$

$$Rs.\displaystyle\frac{105}{100}\times 20,000$$

$$Rs.\displaystyle\frac{100}{95}\times 20,000$$

Solution

Question 8

Excusive

Sales Tax

Income Tax

None of these

Solution

Question 9

20% gain

20% loss

25% loss

25% gain

Solution

Question 10

Rs 4

Rs 5

Rs 6

Rs 7

Solution

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