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Welcome to ICOME Quiz Corner

Q1. A shopkeeper sells 970gms for the kg weight . Find his gain percent.

(a) 3% (b) 10% (c) 4% (d) 9%

Solution.
=
Emor/(True weight - Emor)
x 100

=
30/970
x 100

=
3000/970


= 3.09%
Solution

Q2. A dishonest dealer claims to sell his good at a profit of 10%, but weight 800 gms in place of a kg. Find his actual gain percent.

(a) 33% (b) 37.5% (c) 38% (d) 40%

Solution.
= (100 + 10)(1000/800) - 100

= (110 x 1000)/800 - 100

= (1100/8) - 100

(137.5 - 100)%

= 37.5%
Solution

Q3. A trader's list price is 20% more than the CP . He allowed 5% discount on list price . find the profit percent .

(a) 7% (b) 14% (c) 21% (d) 28%

Solution.
(b) 14%
Solution

Q4. A trader's gives 10% discount on list price . He want to earn 17% profit . What percentage he should hike on list value to the same .

(a) 14% (b) 20% (c) 10% (d) 30%

Solution.
(d) 30%
Solution

Q5. On a money, interest at 4% SI for 4 years is more than on the same money at 5% SI p.a for 3 years .

(a) 3000 (b) 6000 (c) 7000 (d) 8000

Solution.
(d) 8000
Solution

Q6. A sum of Rs. 4800 is lent out in two parts in such a way that the interest on one part at 10% for 3 years is equal to that on another part at 5% for 6 years . find the two sums ?

(a) 2,400 each (b) 2000,2800 (c) 3000, 1800 (d) 4000,800

Solution.
(a) 2,400 each

S1 : S2 = 1/r1t1 : 1/r2t2

S1 : S2 = 1/(10 x 3) : 1/(5 x 6)

= 1/30 : 1/30

= 30 : 30 = 1 : 1
Solution

Q7. For 1st years SI and CI will be same, if principal and rate of interest are equal .

(a) False (b) True (c) Can't ssy

Solution.
(b) True
Solution

Q8. If payment is made in the beginning of the period then it is know as ?

(a) Annuit due
(b) Immediate annuity
(c) Annuity immediate
(d) Ordinary annuity

Solution.
(a) Annuit due
Solution

Q9. Which is better investments 9% per annum compounded quaterly or 9.2% per year .

(a) option 1 (b) option 2 (c) both (d) none

Solution.
(a) option 1

re = (1 + r/4)4 - 1

= (1 + 0.09/4)4 - 1

re = 9.31%
Solution

Q10. The population of a town increases every year by 2% of that population at the beginning of that year in how many years of the total increase of population be 20% .

(a) 12 years (b) 8 years (c) 9 years (d) 10 years

Solution.
A = P(1 + r/100)n

120 = 100 (1 + 2/100)n

120/100 = (1 + 0.02)n

1.2 = (1.02)n

n = 10 years
Solution