Practice Test

Q1) 5% of 120 are _______. Show Answer

Q2) If the price of the product was Rs. 50, and if is increased by 10%. What is the new price? Show Answer

Q3) Profit is calculated on _______. Show Answer

Q4) C.P. + Profit = _______. Show Answer

Q5) If the simple interest for 3 years on Rs. 10500 is Rs. 1890, then the rate of interest is _______. Show Answer

Q6) What sum of money will become Rs. 7069.87 in 4 years at compound interest rate of 6% p.a.? Show Answer

Q7) The difference between compound and simple interest on Rs. 3000 at 10% p.a. for 2 years is _______. Show Answer

Q8) The value of share printed on share certificate is called _______. Show Answer

Q9) Rs. 10 share at a premium of 10% has market value of _______. Show Answer

Q10) Dividend is always calculated on _______. Show Answer

Q11) GST stands for _______. Show Answer

Q12) When share is sold at premium, then _______. Show Answer

Q13) GST payable = _______. Show Answer

Q14) If rate of GST is 28%, then rate of CGST and SGST are _______. Show Answer

Q15) If capital of partners are same and period of investment are same then profit will be shared the ratio of in _______. Show Answer

Q16) In an examination 80% candidates passed in English and 85% candidates passed in Mathematics. If 73% passed in both the subjects, then the percentage of candidates who failed in both the subjects is ______. Show Answer

Q17) If the price of a commodity is increased by 50%, then by what fraction must its consumption be reduced so as to keep the expenditure on the commodity same as earlier? Show Answer

Q18) Population of a town increases every year by 4%. If its present population is 50000 then its population after 2 years will be ______. Show Answer

Q19) A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of cost price to the printed price of the book is ______. Show Answer

Q20) A sells an article to B at a profit of 10%, B sells the article back to A at a loss of 10%. In this transaction ______. Show Answer

Q21) If a man were to sell his chair for Rs. 720, he would lose 25%. To gain 25% he should sell it for ______. Show Answer

Q22) There is 60% increase in an amount in 6 years at simple interest. What would be the compound interest on Rs. 12000 after 3 years at the same rate ______. Show Answer

Q23) A dishonest shopkeeper sells salt at a rate of Rs. 18/kg. The MRP of the salt is Rs. 15/kg. Further, he tries to increase his profit by forging a cut of 200 gm, from each packet. What is the shopkeeper's gain percentage? Show Answer

Q24) Amar and Akbar started a business with capitals Rs. 20000 and Rs. 25,000 respectively. After few months Anthony joined them with a capital of Rs. 30,000. If Anthony's share in the annual profit of Rs. 50,000 is Rs. 14,000 then after how many months from the beginning did Anthony join? Show Answer

Q25) A, B and C started a business with capital of Rs. 80,000, Rs. 1,00,000 and Rs. 120000 respectively. At the end of the year, the profit share of B was Rs. 15000. The difference between the profit shares of A and C is ______. Show Answer

Q26) Raghav and Raman started a business with investments of Rs. 20000 each. Raghav left after eight months and Raman stayed for a year. If the annual profit from the business was Rs. 2,000, Raghav's share in it is ______. Show Answer

Q27) Ram and Mithila started a YouTube channel with investments of Rs. 15,000 and Rs. 24,000 respectively. At the end of 4 months both withdrew one-third of their respective capital. Find the ratio of their earnings after end of one year: Show Answer

Q28) Sita and Gita started a business with investments of Rs. 30000 and Rs. 20,000. At the end of one year, they earned a profit of Rs. 6000. Find Sita's share in the profit. Show Answer

Q29) What is the annual income of a person who invested Rs. 19300 in 6% Rs. 100 share at 3.5% discount? Show Answer

Q30) What is the market value of a 7.5% Rs. 100 share that yields 12%? Show Answer

Q31) Rahul buys 200, Rs. 100 shares of a company at a premium of 30%. The company pays a dividend of 8% annually. What is the investment made by Rahul and his annual income from the shares ______. Show Answer

Q32) Radha invests Rs. 10000 equally in 8% Rs. 100 shares at Rs. 135 and 9% Rs. 10 shares at Rs. 12. Which investment is paying Radha better and by how much? Show Answer

Q33) Mr. Shah invested Rs. 60,000 in 12% Rs. 100 shares selling at a premium of Rs. 25. Find the number of shares bought by Mr. Shah and his annual income from the shares. Show Answer

Q34) Surbhi bought 200 10% Rs. 100 shares at a premium of 20%. At the end of the year the market value of the shares increased by 10%. Surbhi received the dividend and sold the shares at that instant. What was her total income from the transaction? Show Answer

Q35) Semi Annual dividend given by a company is 4%. What is the Face value of each share, if Sujata has 500 shares of the company and her annual income from the shares is Rs. 2,000? Show Answer

Q36) A housewife invests Rs. 13,400 in 5% Rs.100 shares at Rs. 125 and Rs. 6300 in 12% Rs. 100 shares at Rs. 90. What was her total income from these investments? Show Answer

Q37) Depreciated value of a sewing machine after 2 years is Rs. 11,109. Rate of depreciation is 8% per annum. What was its purchase price? Show Answer

Q38) Mr. Mukadam sold his car at a depreciated price of Rs. 4,91,300. He had purchased the car for Rs. 8,00,000. If the rate of depreciation is 15% per annum. After how many years did Mr. Mukadam sell his car. Show Answer

Q39) A publication house bought a printing machine worth Rs. 15,62,500. The market trend shows that the rate of depreciation for the machine is 12% per annum. What will be the amount fetched by the publication house, if the plan is to sell machine after 3 years? Show Answer

Q40) The value of a bike depreciates from Rs. 75,000 to Rs. 45,630 in 2 years. What is the rate of depreciation per annum? Show Answer

Q41) A valuer wrongly value the deprecated price of an imported machinery after 2 years of its purchase by an amount which is Rs. 22,250 more than the correct estimate. The valuer used the rate of depreciation as 10% per annum instead of 12% per annum. What is the purchase price of the imported machinery? Show Answer

Q42) The purchase price of a super computer is Rs. 12,00,000. If the rate of depreciation is 10% per annum between which years after its purchase its depreciated price will be around Rs. 8,50,000? Show Answer

Q43) Which of the following is not exempted by GST? Show Answer

Q44) Which of the following cannot be a HSN code? Show Answer

Q45) "Sumangala Tiffin Services" charged Rs. 12000 for an office party. If 5% GST is applicable, find the CGST payable by the Tiffin Service. Show Answer

Q46) "Sawant Motors" sold a motorcycle for Rs. 90,000 that was bought for Rs. 75,000. If the GST applicable is 28%. Find the Input tax credit and GST payable. Show Answer

Q47) Vinod purchased a smart phone with an M.R.P of Rs. 36,000. The store gave Vinod a discount of 20%. If 18% GST was charged on the discounted price, what was the amount Vinod paid for the smart phone? Show Answer

Q48) What per cent of 2.1 is 1.68? Show Answer

Q49) If the price of sugar decreased by 10%, then to keep the expenses same, by what per cent should the consumption be increased? Show Answer

Q50) If the price of the commodity increased by 20%, then to keep the expenses same, by what fraction should the consumption be reduced? Show Answer

Q51) By selling a book for Rs.450, a book seller incurs a loss of 10%. At what price should he sell the book to earn a profit of 10%? Show Answer

Q52) Selling price of 12 articles is equal to the cost price of 15 articles. What is the profit or loss percentage? Show Answer

Q53) Toys are bought at 7 for Rs.70. How many for Rs.70 must be sold to gain 40%? Show Answer

Q54) By selling an article for Rs.16 there is 20% loss. At what price should it be sold to earn 20% profit? Show Answer

Q55) The simple interest on Rs.500 is Rs.180. If the numbers denoting the rate of interest and years are the same, what is the rate of interest? Show Answer

Q56) Principal= Rs.14,400, the rate of interest =7.5% p.a., period= 18 months. What is simple interest? Show Answer

Q57) There is 50% increase in the principal at a certain rate in 5 years. What would be the compound interest on Rs.15000 for 3 years at the same rate? Show Answer

Q58) What sum will amount to Rs.1236 in 9 months at 4% p.a. simple interest? Show Answer

Q59) What will be the compound interest on Rs.8000 for 3 years at the rate of 5% p.a.? Show Answer

Q60) The population of a town is 40,000. If it increases by 5% p.a., what will be the population after 2 years? Show Answer

Q61) Ruchika sold an article costing Rs.x to Rachana at a profit of 10%. After some days Rachana sold the same article to Ruchika incurring 10% loss. Which of the following is true with respect to this transaction? Show Answer

Q62) A and B invested amounts in the ratio 10:9. What is B’s share in the yearly profit of Rs.17100? Show Answer

Q63) If 4(A^' s capital)=5(B^' s capital)=6(C^' s capital) then out of the profit of Rs.6845, what is B’s share? Show Answer

Q64) The depreciated value of a machine after 2 years is Rs.8464. if the rate of depreciation is 8%, what was the original value of the machine? Show Answer

Q65) Sukhvinder purchased a motorcycle for Rs.80,000. The rate of depreciation is 5%. What will be the value of the motorcycle after 2 years? Show Answer

Q66) The value of a machine depreciates from Rs.70000 to Rs.44800 in 2 years. What is the rate of depreciation? Show Answer

Q67) A caterer charged Rs.40000 for a family function. 5% GST is applicable. What amount is payable by the customer? Show Answer

Q68) What is the rate of the dividend, if a dividend of Rs.200 is received on 50 shares of FV Rs.25? Show Answer

Q69) Mayank purchased 200, Rs.100 shares of a company at 25% premium. Company declared 12% dividend. What is the rate of return for Mayank? Show Answer

Q70) A person purchases a certain commodity for Rs.12000 and sold it for Rs.13000. If the rate of GST is 5%, what is ITC? Show Answer

Q71) Indo Automobiles sold a car for Rs.5,00,000 which was bought for Rs.450000. The rate of GST is 28%. Find the Input Tax Credit and GST payable. Show Answer

Q72) What is the dividend due at the end of a year on 100 shares of FV Rs.25, if half yearly dividend declared is 4%? Show Answer

Q73) Prakash invests Rs.6400 in 10% Rs.10 share at Rs.16. What is his annual income? Show Answer

Q74) Jaya invested Rs.24000 in 10% Rs.100 share at a premium of 20%. Find the number of shares she purchased and her annual income from the shares. Show Answer

Q75) Snehal purchased 200 shares of a company giving semiannual dividend 6%. If her annual income from the shares is Rs.600, what is the FV of the share? Show Answer