Mithun went to a shop and bought things worth Rs. 75, out of which 90 Paise went on sales tax on taxable purchases. If the tax rate was 18%, then what was the cost of the tax free items? a) 12.5 b) 69.80 c) 19.7 d) 34.5 e) 69.1

Mithun went to a shop and bought things worth Rs. 75, out of which 90 Paise went on sales tax on taxable purchases. If the tax rate was 18%, then what was the cost of the tax free items? a) 12.5 b) 69.80 c) 19.7 d) 34.5 e) 69.1
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1 Answer

Answer :

Answer: E

 Total cost of the items he purchased = Rs.75

 Given that out of this Rs.75, 90 Paise is given as tax

 => Total tax incurred = 90 Paise

 = Rs.90/100

 Let the cost of the tax free items = x

 Given that tax rate = 18%

 ∴ (75− 90/100 − x)18/100 = 90/100

 ⇒ 18(75 −0.9 −x) = 90

 ⇒ (75 − 0.9 − x) = 5

 x = 75 − 0.9 – 5

 X=69.1 
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True value has been 50 whereas measured value is 40 then the percentage error in the reading

Description : True value has been 50 whereas measured value is 40 then the percentage error in the reading will be ______.  (A) 20% (B) 40% (C) 50% (D) 30%

Last Answer : True value has been 50 whereas measured value is 40 then the percentage error in the reading will be 20%. 

Net Assets of D.Co. for Purchase Consideration worth Rs. 4,00,000. At the time of absorption, the company has paid 32,000 equity shares each of Rs.10 each at 10% premium, then remaining cash will be - (A) Rs. 48,000 (B) Rs. 84,000 (C) Rs. 80,000 (D) Rs. 90,000

Description : Net Assets of D.Co. for Purchase Consideration worth Rs. 4,00,000. At the time of absorption, the company has paid 32,000 equity shares each of Rs.10 each at 10% premium, then remaining cash will be - (A) Rs. 48,000 (B) Rs. 84,000 (C) Rs. 80,000 (D) Rs. 90,000

Last Answer : (A) Rs. 48,000

If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which one of the following represents the figure of gross profit for the year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Description : If the purchases made during the year were Rs. 60,000, the balance of stock in trade at the beginning and at the end of the year were Rs. 12,000 and Rs. 9,000 respectively and the gross profit on sales was 1/5th, when which ... year ? (A) Rs. 15,750 (B) Rs. 14,000 (C) Rs. 12,500 (D) Rs. 17,250

Last Answer : Answer: Rs. 12,500

HSK, an LLP has taken keyman insurance policy on the life of its managing partner. The policy got matured on 13th September 2017 and an amount of rupees 75 lakhs was paid by the insurers to the Managing partner. The amount so received on maturity of the policy a. fully exempt under section 10(10D) b. 50% of rupees 75 lakh is exempt c. rupees 75 lakh is taxable d. rupee 25 lakh is exempt and Rs 50 lakh is taxable

Description : HSK, an LLP has taken keyman insurance policy on the life of its managing partner. The policy got matured on 13th September 2017 and an amount of rupees 75 lakhs was paid by the insurers to the Managing partner ... c. rupees 75 lakh is taxable d. rupee 25 lakh is exempt and Rs 50 lakh is taxable

Last Answer : c. rupees 75 lakh is taxable

A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given: Budgeted cost of work performed (EV) = 17 crores Actual Cost of work performed (AC = 19 crores Budgeted cost of work scheduled (PV) = 21 croresWhat is the cost performance index? A.0.895 B.0.81 C.0.90 D.1.12

Description :  A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given:  Budgeted cost of work performed (EV) = 17 ... crores What is the cost performance index?  A.0.895  B.0.81  C.0.90  D.1.12

Last Answer : A.0.895

The cost of single MO forms is a) 0.50 paise b) 0.25 paise c) 0.75 paise d) free of cost

Description : The cost of single MO forms is a) 0.50 paise b) 0.25 paise c) 0.75 paise d) free of cost

Last Answer : b) 0.25 paise

A wooden manufacturing company declares that a wooden is now available for $11200 as against $25200 one year before. Find the percentage reduction in the price of wooden offered by the company. a) 25 1/3 b) 691/3 c) 66 1/3 d) 33 1/3 e) 55 5/9

Description : A wooden manufacturing company declares that a wooden is now available for $11200 as against $25200 one year before. Find the percentage reduction in the price of wooden offered by the company. a) 25 1/3 b) 691/3 c) 66 1/3 d) 33 1/3 e) 55 5/9

Last Answer : Answer: E Price of the wooden a year before = $25200 Price of the wooden after a year = $11200 Decrease in price = $(25200 - 11200) = $14000 Therefore, decrease % = 14000/25200 × 100 %  = 55 5/9 %

The population in a small town increases from 50000 to 63750 in one year. Find the percentage increase in population. a) 25 b) 62 c) 6.25 d) 27.5 e) 59.8

Description : The population in a small town increases from 50000 to 63750 in one year. Find the percentage increase in population. a) 25 b) 62 c) 6.25 d) 27.5 e) 59.8 

Last Answer : Answer: D Population in a small town last year = 50000 Population in a small town after one year = 63750 Increase in population = 63750 - 50000 = 13750 Therefore,  percentage increase in population = ... /50000 100  = 1375000/50000  = 27.5% Thus, the increase in population is 27.5%

The price of dhal is increased from $ 30 to $ 37.5 per kg. Find the percentage increase in price. a) 25 b) 60 c) 45 d) None e) 98

Description : The price of dhal is increased from $ 30 to $ 37.5 per kg. Find the percentage increase in price. a) 25 b) 60 c) 45 d) None e) 98 

Last Answer : Answer: A Price of dhal before = $30 Price of dhal now = $ 37.5 Increase in dhal = current price - original price  = $37.5 - $ 30  = $ 7.5 Therefore, percentage increase in price = Increase in price/ ...  = 7.5 / 30 100 = 750/100 = 25 % Thus, increase in price= 25 %

An alloy contains 36 % of bronze. What quantity of alloy is required to get 340 g of bronze? a) 1500 b) 944.4 c) 950 d) 1000 e) 980.5

Description : An alloy contains 36 % of bronze. What quantity of alloy is required to get 340 g of bronze? a) 1500 b) 944.4 c) 950 d) 1000 e) 980.5 

Last Answer : Answer: B  Let the quantity of alloy required = x g Then 36 % of x =340 g  ⇒ 36/100 × x = 340 g  x = (340 × 100)/36 g  x = 34000/36 g x = 944.4 g