203 Business Mathematics | Question Bank with Answers

Business Mathematics

Answer the following questions 

 

The ratio of prices of two cars was 3 : 4, three years later, when the price of first had risen by 10% and that of the second by  ₹ 7,000, the ratio becomes 11 : 15. Find the new prices of the cars.

Answer:

Let the two cars be C1 and C2.

By question,

C1/C2=3/4

Or, 4C1=3C2......(1)

After 3 years,

(C1+10% of C1)/(C2+7000)=11/15

Or, 15{C1+0.1C1}=11(C2+7000)

Or, 15×(1.1)C1=11C2+77000

Or, 16.5C1-11C2=77000.........(2)

Or, 16.5×(3/4)C2-11C2=77000

Or, 12.375C2-11C2=77000

Or, 1.375C2=77000

Or, C2=77000/1.375=Rs56000

Now, C1=(3C2)/4=(3×56000)/4

=Rs42000

Rs 42000 for 1st car & Rs 56000 for 2nd car

 

 

 

 

Rohit purchased 200 toys at  ₹ 20 each. He sold all toys at  ₹ 30 each. Find out total profit and percentage of profit earned

Answer:

Find the total cost price:

200 x 20 = Rs 4000

Find the total selling price:

200 x 30 = Rs 6000

Find the total profit:

Rs 6000 - Rs 4000  = Rs 2000

Find the profit percentage:

Profit Percentage = 2000/4000 x 100 = 50%

Answer: The profit is Rs 2000 and the profit percentage is 50%

 

 

 

 

 

A person invested some amount of losses 10% from first year but next year he gains 20% what you had in the end of the first year if the in there is increase of rupees 1440 in his capital at the end of 2 years find its original capital​

Answer:

18000

 

Step-by-step explanation:

Suppose you have 100 rs

at the end of 1st year - loss = 10%

remaining amount  = 100-100*10%

                                 =90

from question,

2nd year he gains 20% of the remaing amount= 90+90*20%

                                                                              = 108

from question profit = 1440rs

hence, 108-100= 1440rs

      => 8= 1440 rs

     => 1 = 180 rs

hence => original capital we take = 100

hence original  capital = 100*180=18000 Rs Ans.

 

 

 

A man purchases eggs at  ₹ 65 per dozen and sells them at  ₹ 7 per egg. Find his gain or loss percent.

Answer:

cost price of 1 dozen (12) egg = ₹65
selling price of 1 egg = ₹7
selling price of 12 egg = 7×12=₹84
since selling price is grater than cost price
therefore there is profit
profit%= S.P.-C.P./C.P. × 100
= 84-65/65×100
=19/65×100
=29.23%

 

 

 

 

 

Find the rate of simple interest, if the sum of money triple itself in 14 years.

Answer :

Rate of interest = 16%

Explanation:

Method 1:

Formula: RT= (n-1)*100 where R represents rate of interest, T represents time period and n represents the number of times it becomes itself.

Here, T = 14 years and n= 3 ( since it triples itself) [As per the given data}

Substituting all the values in the formula,

R *14 = (3-1)*100

R*14 = 2*100

R*14 = 200

R = 200/14

R = 16%

Method 2:

Formula : R = (SI *100) / PT (using basic formula of SI, SI = PTR /100 )

Assume, Principal (P) = 100; Time period (T) = 14 years; Simple Interest (SI) =200 ( The sum gets tripled so the value that we assumed 100 becomes 300 which include principal 100 + interest 200).

Substituting all the values in the formula we get,

R = (200*100) / 100*14

R = 200/14

R = 16%

The rate of interest at which the money triples itself is 16%







A Refrigerator set was bought for  ₹ 14,000 and sold for  ₹ 16,400 through a broker who charges commission 4% on purchase and 5% on sales. Find the total gain or the loss in the transaction.

Answer :

The total gain would be Rs. 1700.

Step-by-step explanation:

Since we have given that

Cost price of refrigerator = Rs. 14000

Selling price of refrigerator Rs. 16400

5% commission on purchased price = 0.05 x 14000 700

So, Total purchased price would be

14000+700 = 14700

So, Sp> Cp, there will be profit.

Profit SP-CP

Profit 16400-14700

Profit=1700

Hence, the total gain would be Rs. 1700

 



 

 

The ratio of salaries of Jagriti and Pravin is 6 : 7 while the ratio of salaries of Pravin and Nilesh 3 : 5. Find the ratio of salaries of A, B and C. If the salary of Nilesh is  ₹ 17,500. Find salary of Jagriti.

Answer :

The ratio of salaries of Jagriti and Pravin is 6 : 7

the salary of Nilesh is  ₹ 17,500.

let the salary of Jagriti = x

ACCORDING TO THE QUESTION

6 : 7= x/17,500

x=20,416.66

the salary of Jagriti =20,146

 



 

What is transportation problem ? Explain the method to solve by North-West corner method.

Answer :

Steps in North West Corner Rule  

Select the upper left-hand corner cell of the transportation table and allocate as many units as possible equal to the minimum between available supply and demand, i.e., min(s1, d1).  

Adjust the supply and demand numbers in the respective rows and columns.  

If the demand for the first cell is satisfied, then move horizontally to the next cell in the second column.  

If the supply for the first row is exhausted, then move down to the first cell in the second row.  

If for any cell, supply equals demand, then the next allocation can be made in cell either in the next row or column.  

Continue the process until all supply and demand values are exhausted.

 

 

 

 

Explain the following terms :



·  Simple interest is calculated on the principal, or original, amount of a loan.



·  Compound interest is calculated on the principal amount and the accumulated interest of previous periods, and thus can be regarded as “interest on interest.”



·  Trade Discount. A trade discount is the amount by which a manufacturer reduces the retail price of a product when it sells to a reseller, rather than to the end customer

 

 

 

A dealer purchased two machines for Rs. 22,000. He sold one of them at a gain of 5% and the other at a loss of 5%. He found that he has neither gain nor loss in the total transaction. Find C.P. of the machines.

Answer:

The cost price of the first machine is rs 10000 and the cost price of the second machine is rs 12000.

Step-by-step explanation:

Suppose, the cost of first machine=x

and the cost of second machine=22000-x

Selling price of first machine= x+6%x= 106x/100

Selling price of second machine= y-5%y= 95(22000-x)/100

Selling price of both machine= 106x/100+95(22000-x)/100

= (106x-95x+2090000)/100

= (11x+2090000)/100

According to the question, He has neither gain nor loss in total transaction.

It means

Cost price of both machine= Sell price of both machine

22000= (11x+2090000)/100

2200000= 11x+2090000

11x= 2200000-2090000

x= 110000/11

x= 10000

So, y= 22000-10000

y= 12000





Direct proportion

Direct proportion or direct variation is the relation between two quantities where the ratio of the two is equal to a constant value.

 





Marked price.

The price on the label of an article/product is called the marked price or list price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price. It is generally denoted by MP.

 



What is Singular Matrix? 

A square matrix (m = n) that is not invertible is called singular or degenerate. A square matrix is singular if and only if its determinant is 0

 



The transpose of a matrix

is found by interchanging its rows into columns or columns into rows. The transpose of the matrix is denoted by using the letter “T” in the superscript of the given matrix. For example, if “A” is the given matrix, then the transpose of the matrix is represented by A' or AT.

 



What is concept inverse of a matrix?

Like numbers, matrices do have reciprocals. In case of matrices, this reciprocal is called inverse matrix. If A is a square matrix and B is its inverse, then the product of two matrices is equal to the unit matrix. 





Feasible solution 

A feasible solution is one that satisfies all defined constraints and requirements. A solution is infeasible when no combination of decision variable values can satisfy the entire set of requirements and constraints.





Scalar matrix 

A scalar matrix is a type of diagonal matrix. The diagonal elements of the scalar matrix are equal or same. If the elements of the scalar matrix are all equal to 1, then it becomes an identity matrix. A square matrix A = [aij]n x n, is said to be a scalar matrix if; aij = 0, when i ≠ j.

 



The difference between the simple and compound interest at 15% p.a. on Rs. 1,000, for 3 years. 

Answer:

Compound interest :

P = rs 1000 , n =3 , R = 5%

A = P (1+R/100)^n

A = 1000(1.05)^3

A = 1000*1.15763 = Rs 1157.63

Compound interest = Rs 157. 63

Simple interest :

I = PNR /100

I = (1000*3*5/100) = Rs 150

Difference = Rs 7.63

 



A student finishes a book by reading 30 pages per day in 16 days. If he wants to finish the book in 12 days, how many pages should be read every day?

Answer:

Total pages in the book = 480 pages

Total time is taken by him to finish reading the same book = 12 days.

then,

Total pages he should read everyday = Total pages in the book / Total time taken by him to finish reading the same book

Total pages he should read everyday = 480/12

Total pages he should read everyday = 40 pages

 

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