Business Mathematics & Statistics #4

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| By Dashing-khan
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Dashing-khan
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Quizzes Created: 5 | Total Attempts: 3,126
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  • 1/15 Questions

     Given Net price of shirt = $20, Discount =  10%, List price will:

    • $22
    • $24
    • $26
    • $30
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Business Mathematics & Statistics #4 - Quiz
About This Quiz

Business Mathematics & Statistics #4 explores key concepts in financial mathematics and statistics. It assesses skills in calculating markdowns, list prices, matrix determinants, depreciation, and profit percentages, essential for professionals in finance and accounting.

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  • 2. 

     What is the interest on Rs. 1600 for one year at the rate 3-1/2 %?       

    • 65

    • 56

    • 75

    • 90

    Correct Answer
    A. 56
    Explanation
    Interest = (Principal * Rate * Time) / 100
    In this case:
    Principal = Rs. 1600
    Rate = 3-1/2 % = 3.5%
    Time = 1 year
    Substituting these values into the formula, we get:
    Interest = (1600 * 3.5 * 1) / 100 = 56
    Therefore, the interest on Rs. 1600 for one year at the rate of 3-1/2 % is Rs. 56.

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  • 3. 

    If there is a -30% change in the price of an item, what does the negative sign show?

    • The price is increasing.

    • The price is decreasing.

    • The price has low rate of change.

    • None of the above.

    Correct Answer
    A. The price is decreasing.
    Explanation
    The negative sign in the -30% change in price indicates that the price is decreasing. A negative sign denotes a decrease or reduction in value, and in this case, it represents a decrease of 30% in the price of the item.

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  • 4. 

     Suppose that you are spending 1500 dollars in an investment and Accumulated factor is 15 then Accumulated Value will be:

    • 22550

    • 22500

    • 21000

    • 22510

    Correct Answer
    A. 22500
    Explanation
    The accumulated value of an investment can be calculated by multiplying the amount invested by the accumulated factor. In this case, the accumulated factor is 15, so multiplying 1500 dollars by 15 gives us an accumulated value of 22500 dollars.

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  • 5. 

    Store A marked down a $ 50 perfume to $ 40 with markdown of  $10 The % Markdown is:

    • 10%

    • 20%

    • 30%

    • 40%

    Correct Answer
    A. 20%
    Explanation
    The percentage markdown can be calculated by dividing the markdown amount by the original price and then multiplying by 100. In this case, the markdown amount is $10 and the original price is $50. So, the percentage markdown is (10/50) * 100 = 20%.

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  • 6. 

    Dimension of a matrix means:

    • Column space

    • Row space

    • Order of the matrix

    • None of these

    Correct Answer
    A. Order of the matrix
    Explanation
    The dimension of a matrix refers to the number of rows and columns it has, which is also known as the order of the matrix. It is determined by the number of elements in each row and column. Therefore, the correct answer is "Order of the matrix."

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  • 7. 

    Write a formula to find the simple interest (I) if $5000 is invested at 4% for 2 years.

    • I=PRT

    • I=P+R+T

    • I=PT

    • I=P(R+T)

    Correct Answer
    A. I=PRT
    Explanation
    The formula to find the simple interest is I = PRT, where I represents the interest, P represents the principal amount (in this case $5000), R represents the rate of interest (4%), and T represents the time period (2 years). By substituting the given values into the formula, we can calculate the simple interest.

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  • 8. 

     If the cost & selling price of a pen are Rs.12 & Rs.15 respectively, profit percentage is:    

    • 33.33%

    • 25%

    • 20%

    • 10%

    Correct Answer
    A. 25%
    Explanation
    The profit percentage can be calculated by subtracting the cost price from the selling price, and then dividing the result by the cost price. In this case, the profit is Rs.15 - Rs.12 = Rs.3. Dividing Rs.3 by Rs.12 and multiplying by 100 gives a profit percentage of 25%.

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  • 9. 

    Every percentage can be converted into:

    • Decimal

    • Ratio

    • Proportion

    • Both decimal & ratio

    Correct Answer
    A. Both decimal & ratio
    Explanation
    Every percentage can be converted into both decimal and ratio formats. Converting a percentage to a decimal involves dividing the percentage value by 100. For example, 50% can be converted to 0.50 as a decimal. On the other hand, converting a percentage to a ratio involves expressing it as a fraction with a denominator of 100. For instance, 75% can be written as the ratio 75/100. Therefore, both decimal and ratio formats can be used to represent percentages.

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  • 10. 

    VDB returns the depreciation of an asset for:

    • Zero period

    • One period

    • Two period

    • Any arbitrary period

    Correct Answer
    A. Any arbitrary period
    Explanation
    VDB, which stands for Variable Declining Balance, is a function used in financial calculations to determine the depreciation of an asset. Unlike other depreciation methods that calculate depreciation for specific periods, VDB allows for depreciation to be calculated for any arbitrary period. This means that it can be used to determine depreciation for any desired time frame, regardless of whether it is a zero, one, two, or any other period. Therefore, the correct answer is that VDB can be used to calculate depreciation for any arbitrary period.

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  • 11. 

     This example returns the depreciation for an asset that costs Rs. 10,000, with a salvage value of $8,000. The useful life of the asset is 5 years. The depreciation is being calculated for the third year, and there are 10 months in the first year.

    • =DB (10000, 5, 8000, 3, 10)

    • =DB (10000, 8000, 5, 10, 3)

    • =DB (10000, 8000, 5, 3, 10)

    • =DB (10000, 8000, 10, 3, 5)

    Correct Answer
    A. =DB (10000, 8000, 5, 3, 10)
    Explanation
    The correct answer is =DB (10000, 8000, 5, 3, 10). This is the correct formula to calculate the depreciation for the given asset. The parameters in the formula are in the correct order and correspond to the cost of the asset, salvage value, useful life, period, and months. The formula will accurately calculate the depreciation for the third year considering the 10 months in the first year.

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  • 12. 

     Monthly installments of a leased car are calculated by using the techniques of:    

    • Simple interest method

    • Compound interest method

    • Annuity

    • Hit & trial method

    Correct Answer
    A. Compound interest method
    Explanation
    The monthly installments of a leased car are calculated using the compound interest method. This method takes into account the principal amount, the interest rate, and the time period over which the installments will be paid. Compound interest is calculated by adding the interest earned to the principal amount, and then calculating interest on the new total for each time period. This ensures that the interest is compounded and the monthly installments are adjusted accordingly.

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  • 13. 
    Which is the correct syntax for the determinant of a matrix given by the following array: - ProProfs

    Which is the correct syntax for the determinant of a matrix given by the following array:

    • =DETERM(B4:E7)

    • =MDTERM(B4:E7)

    • =MDETERM(B4:E7)

    • =MDETERM(B4;E7)

    Correct Answer
    A. =MDETERM(B4:E7)
    Explanation
    The correct syntax for the determinant of a matrix given by the array B4:E7 is =MDETERM(B4:E7).

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  • 14. 

    Which of the following functions is not related to financial analysis?     

    • AMORDEGRC

    • AMORLINC

    • CUMIPMT

    • MDETERM

    Correct Answer
    A. MDETERM
    Explanation
    MDETERM is not related to financial analysis because it is a mathematical function used in linear algebra to calculate the determinant of a matrix. Financial analysis involves analyzing financial statements and data to make informed decisions about investments, budgeting, and other financial matters. The other three functions listed (AMORDEGRC, AMORLINC, and CUMIPMT) are all specific financial functions used in Excel for calculating different financial metrics such as amortization and cumulative interest payments.

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  • 15. 
    Write the output of B9, B10, B11 and B12. If you think the formula is incorrect write

    Write the output of B9, B10, B11 and B12. If you think the formula is incorrect write "Error" in output.

    • The output of =sum(B3,B4,B5,B6) = 100

    • =multiply(B5,B6) will not give result because multiply is not a excel function

    • B4/B6 is not a formula because in excel formula must start with "="

    • =B4% will return 0.2

    Correct Answer
    A. B4/B6 is not a formula because in excel formula must start with "="

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  • Current Version
  • Nov 26, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 20, 2009
    Quiz Created by
    Dashing-khan
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