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________ expenses are the additional expenses incurred by a buyer for an item over and above its cost of purchase.

Answer: Overhead expenses are the additional expenses incurred by a buyer for an item over and above its cost of purchase.... View Article

The time period after which the interest is added each time to form a new principal is called the __________

Answer: The time period after which the interest is added each time to form a new principal is called the Conversion period. The interest period... View Article

Sales tax = tax % of _______

Answer: Sales tax = tax % of Bill amount Sales Tax (ST) is imposed by the government when a product is sold to the customer. The shopkeeper... View Article

Amount when interest is compounded annually is given by the formula_____

Answer: Amount, when interest is compounded annually, is given by the formula A = P(1+R/100)T P = Principal R = Rate T = time Compound... View Article

_______ is charged on the sale of an item by the government and is added to the bill amount.

Answer: Sales tax is charged on the sale of an item by the government and is added to the bill amount. Sales Tax (ST) is imposed by the... View Article

Discount = Discount % of ________. Fill in the blank.

Answer: Discount = Discount % of Marked Price. Discount Rate is the price of the total quantity/amount usually less than its original value.... View Article

Discount = _-_. Fill in the blank.

Answer: Discount = Marked Price – Selling Price Discount Rate is the price of the total quantity/amount usually less than its original... View Article

15% increase in price of an article, which is Rs.1,620, is the increase of ____.

Answer: 15% increase in the price of an article, which is Rs.1,620, is the increase of Rs.212 Let x is the price of the article. Thus, as per... View Article

Increase of a number from 150 to 162 is equal to increase of ____ per cent.

Answer: An increase of a number from 150 to 162 is equal to an increase of 8% percent. Initial number = 150 Final number = 162 Increase of a... View Article

________ is a reduction on the marked price of the article.

Answer: Discount is a reduction on the marked price of the article. Discount Rate is the price of the total quantity/amount usually less than... View Article

Radhika bought a car for Rs 2,50,000. Next year its price decreased by 10% and further next year it decreased by 12%. In the two years overall decrease per cent in the price of the car is (a) 3.2% (b) 22% (c) 20.8% (d) 8%

Answer: (c) 20.8% Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The price... View Article

40% of [100 – 20% of 300] is equal to: (a) 20 (b) 16 (c) 140 (d) 64

Answer: (b) 16 Given: 40% of [100 – 20% of 300] 40% of [100 – 20% of 300] ⇒ ⇒ ⇒ 16... View Article

A TV set was bought for Rs 26,250 including 5% VAT. The original price of the TV set is (a) Rs 27,562.50 (b) Rs 25,000 (c) Rs 24,937.50 (d) Rs 26,245

Answer: (c) Rs 24,937.50 Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The... View Article

Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought Rs 1200. On the transaction he has a: (a) Profit of Rs 75 (b) Loss of Rs 75 (c) Profit of Rs 30 (d) Loss of Rs 30

Answer: (c) Profit of Rs 30 Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The... View Article

The original price of a washing machine which was bought for Rs 13,500 inclusive of 8% VAT is: (a) Rs 12,420 (b) Rs 14,580 (c) Rs 12,500 (d) Rs 13,492

Answer: (a) Rs 12,420 Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The price... View Article

A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is: (a) 8 (b) 4 (c) 6 (d) 9

Answer: (a) 8 Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The price mentioned... View Article

A jacket was sold for Rs 1,120 after allowing a discount of 20%. The marked price of the jacket is: (a) Rs 1440 (b) Rs 1400 (c) Rs 960 (d) Rs 866.66

Answer: (b) Rs. 1400 Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The price... View Article

Latika bought a teapot for Rs 120 and a set of cups for Rs 400. She sold teapot at a profit of 5% and cups at a loss of 5%. The amount received by her is: (a) Rs 494 (b) Rs 546 (c) Rs 506 (d) Rs 534

Answer: (c) Rs 506 Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The price... View Article

A bought a tape recorder for Rs 8,000 and sold it to B. B in turn sold it to C, each earning a profit of 20%. Which of the following is true: (a) A and B earn the same profit. (b) A earns more profit than B. (c) A earns less profit than B. (d) Cannot be decided.

Answer: (c) A earns less profit than B Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked... View Article

The marked price of an article is Rs 80 and it is sold at Rs 76, then the discount rate is: (a) 5% (b) 95% (c) 10% (d) appx. 11%

Answer: (a) 5% Cost price: The amount paid for a product. Selling Price: The amount at which the product is sold Marked Price: The price... View Article