MTH302 Final Term Quiz 2 July 2023 Set 2 by Miss Mehwish

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Q1. A woman’s handbag has a list price of Rs.30. For a sale, a 40% discount is offered followed by a 10% discount. What is the amount of money that has been saved? Options:

1. Rs 16.2
2. Rs 15.0
3. Rs 27.8
4. Rs 13.8

Correct option: d) Rs 13.8

Q2. If 5%, 10%, and 15% are the discounts on a mobile which costs Rs. 35,000, then which of the following is true for evaluating the net price?

1. 35,000(1-0.05)+(1-0.10)+(1-0.15)
2. 35,000(1-0.05)(1-0.10)(1-0.15)
3. 35,000(1-0.05)-(1-0.10)-(1-0.15)
4. 35,000(1+0.05)(1+0.10)(1+0.15)

Correct option: b) 35,000(1-0.05)(1-0.10)(1-0.15)

Q3. The ……. computes depreciation at an accelerated rate.

1. double-declining balance method
2. internal rate of return
3. modified internal rate of return
4. fixed-declining balance method

Correct option: a) double-declining balance method

Q4. The list price of a plastic chair is Rs 350. If the trade discount is 15%, what will be the amount of discount?

1. Rs. 52.5
2. Rs. 40.25
3. Rs. 60.5
4. Rs. 56.5

Correct option: a) Rs. 52.5

Q5. IRR has two parameters i.e. IRR(values, guess). If guess is omitted, then Excel takes the value - ------------- as the guess

1. 0.10
2. 0.010
3. 0.001

Correct option: a) 0.10

Q6. Which of the following is true for the Cash Discount?

1. It is a discount given for the late payment.
2. It is a discount given for the postponed payment.
3. None of these
4. It is a discount given for the on-time payment.

Correct option: d) It is a discount given for the on-time payment.

Q7. In the syntax for PV(rate,nper,pmt,fv,type), rate stands for................. Options:

1. Interest rate per period
2. Markup rate
3. Discount rate
4. Depreciation rate

Correct option: a) Interest rate per period

Q8. The original sale price can be estimated as bought price multiplicative factor of ratio Options:

1. None of these
2. Assumed selling price and cost
3. Assumed selling price and markup
4. Assumed selling price and markdown

Correct option: c) Assumed selling price and markup