InterviewSolution
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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
A shopkeeper sells an article, whose cost price is Rs. 500 for Rs. 616 including a sales tax @x%, and for a profit of Rs. 50. Find x.A. 0.08B. 0.1C. 0.12D. 0.09 |
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Answer» Correct Answer - C (i) Sales tax =[(616-50)-500]=66 (ii) Percentage of sales tax `=("Sales tax")/("SP")xx100`. |
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| 2. |
Ashok sold an article, whose cost price is Rs. 300, for Rs. 351 including sales tax @8%. Find his profit percentage.A. `13(1)/(3)%`B. `8(1)/(3)%`C. `16(2)/(3)%`D. `10(2)/(3)%` |
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Answer» Correct Answer - B Let the list price be Rs.x. Sales tax (in Rs.) `=(8)/(100)x=(2)/(25)x`. Selling price including sales tax (in Rs.) `=(27)/(25)x`. `(27)/(25)x=351` `(x)/(25)=13` x=325 Profit percentage `=(325-300)/(300)(100)%=8(1)/(3)%`. |
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| 3. |
Alol bought a scientific calculator for Rs. 728, including sales tax. The list price of the calculator was Rs. 650. Find the rate of sales tax.A. 0.09B. 0.1C. 0.11D. 0.12 |
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Answer» Correct Answer - D List price =Rs. 650. Selling price including sales tax=Rs. 728 Let the sales tax rate be r%. Sales tax (in Rs.)=728-650=78 The rate of sales tax `=(78)/(650)xx100%=12%`. |
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| 4. |
Aryan purchased a Plasma TV for Rs. 92,000 including sales tax. Find the list price of the TV, if its sales tax is 15%. |
| Answer» Correct Answer - Rs. 80, 000 | |
| 5. |
The price of a TV, inclusive of sales of 12%, is Rs. 15,680. If the sales tax rate is increased to 14%, then what additional amount of money a customer should pay for it ? (in Rs.)A. 280B. 240C. 260D. 300 |
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Answer» Correct Answer - A Let the list price of the TV be Rs. Sales tax `=Rs. (12)/(100)x=15,680` `x=(15680)/(1.12)=14,000` Additional amount to be paid (in Rs.) =(14-12)% of x=2% of 14,000=Rs. 280. |
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| 6. |
If the list price of an article is Rs. 50 and the rate of sales tax is 2%, then its selling price after tax is ____. |
| Answer» Correct Answer - Rs. 51. | |
| 7. |
Calculate the amount paid by a customer for an article, if its list price is Rs. 1250 and the rate of sales tax is 5%.s |
| Answer» Correct Answer - Rs. 1312.50 | |
| 8. |
The _____ differs from item to item and state to state. (sales tax/income tax) |
| Answer» Correct Answer - sales tax | |
| 9. |
Sales tax is calculated on the list price, if no___ is given. |
| Answer» Correct Answer - discount | |
| 10. |
Sreekar purchases an article for Rs. 5200. If the rate of sales tax is 4%, find the marked price of the article. |
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Answer» Let the marked price of the article be Rs. 100x. Sales tax =4% of 100x=Rs. 4x. Total selling price of the article =Rs. 104x. Given that 104x=5200 x=50. `therefore` Marked price =100x `=100xx50= Rs. 5000`. |
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| 11. |
The tax which is imposed on the sale price of an article is called ____. |
| Answer» Correct Answer - sales tax | |
| 12. |
Sales tax is caluclated on the ____ price, if discount is given. |
| Answer» Correct Answer - selling | |
| 13. |
The sales tax given will reach the ____. (shopkeeper/government) |
| Answer» Correct Answer - government | |
| 14. |
The three index numbers which are commonly used are ____, ____ and _____. |
| Answer» Correct Answer - price index number, quality index number and cost of living index number | |
| 15. |
Akhila visits a readymade garment shop and purchases a top for Rs. 300, sales tax @ 3%. Calculate the total amount paid by Akila to the shopkeeper. |
| Answer» Correct Answer - Rs.309 | |
| 16. |
Index number measure relative changes in industrial production, agricultural production and also in our ____ of living. |
| Answer» Correct Answer - cost | |
| 17. |
The reference year with respect to which we measure the changes in the current year is called ____. |
| Answer» Correct Answer - Base year | |
| 18. |
The year for which we calculate the cost of living index is referred as ___ year. |
| Answer» Correct Answer - current year | |
| 19. |
Cost of living index =___. |
| Answer» Correct Answer - `("Total expenditure in the current year")/("Total expenditure in the base year")xx100` | |
| 20. |
If the total expenditures in the base year and current year are equal, then its index number is ___. |
| Answer» Correct Answer - 100 | |
| 21. |
Ramesh bought a book whose list price is Rs. 750. The shopkeeper gave him 8% discount. If the rate of VAT is 15%, then find the amount that Ramesh paid for the book. (in Rs.)A. `793.50`B. `767.50`C. `805.50`D. `813.50` |
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Answer» Correct Answer - A List price = Rs. 750 Discount (in Rs.) `=(8)/(100)(750)=60` Price after discount = Rs. 690 VAT paid (in Rs.) `=(15)/(100)(690)=103.50` Amount paid (in Rs.) =690+103.50 =793.50 |
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| 22. |
Varshit purchased a pair of shoes for Rs. 3360 including a VAT of 12%. Find the amount he paid towards VAT.A. Rs. 240B. Rs. 360C. Rs. 300D. Rs. 410 |
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Answer» Correct Answer - B (i) Let the list price be Rs.x. (ii) x+12% of x=3360, find x, then find (3360-x). |
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| 23. |
If the cost of living index of a certain year is 180 and the expenditure in the current year is Rs. 36,000, then the expenditure in the base year is ___. |
| Answer» Correct Answer - Rs. 20,000 | |
| 24. |
Dheeraj bought a watch whose list price is Rs. 6500. The shopkeeper allowed a discount of 6%, and asked to pay 10% VAT. Find the amount that Dheeraj paid for buying the watch.A. Rs. 6481B. Rs. 6625C. Rs. 6721D. Rs. 6845 |
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Answer» Correct Answer - C (i) Calculate the price after 6% discount. (ii) Find 10% VAT on the price. (iii) Using the given information, find the total amount paid. |
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| 25. |
On certain consumable goods, the total expenditure of a family was found to be Rs. 18,000 in the year 2005. If the cost of living index for the year 2006, taking 2005 as the base year, is 240, then find the expenditure of the family on the same quantity of consumable items in the year 2006.A. Rs. 43,200B. Rs. 48,200C. Rs. 24, 000D. Rs. 28,000 |
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Answer» Correct Answer - A (i) Let the list price be Rs.x. (ii) x+12% of x=3360, find x then find (3360-x). |
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| 26. |
If the index number of sales prices in March 2006 compared to March 2005 is 124, there is an increase of ____ in the wholesale price from March 2005 to March 2006. |
| Answer» Correct Answer - 0.24 | |
| 27. |
The total expenditure of a certain family was Rs. 13, 090 in the year 2000. If the cost of living index in the year 2006, when compared to the cost in the year 2000, is 120, then the total expenditure in the current year is ____. (in Rs. )A. 14280B. 15240C. 16840D. 15708 |
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Answer» Correct Answer - D Cost of living index `=("Total expenditure in the current year")/("Total expenditure in the base year")xx100`. |
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| 28. |
In the year 1980, the total expenditure of a family was Rs. 8400. The cost of living index for the year 1980, by taking 1940 as the base year, was 240. Then the expenditure of the family in the year 1940 was _____.A. Rs. 3000B. Rs. 3000C. Rs. 3800D. Rs. 4200 |
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Answer» Correct Answer - B Cost of living index `=("Total expenditure in the current year")/("Total expenditure in the base year")xx100`. |
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| 29. |
The cost of living index in the year 2006, taking 2004 as the base year, on certain commodities is 162.75. If the total expenditure in 2004 was Rs. 12,500, then find the total cost for the same commodities in the year 2006. |
| Answer» Correct Answer - Rs. 20,343.50 | |
| 30. |
The ratio of the total expenditure for the years 2000 and 2006 is `5 : 8`. The cost of living index of 2006, taking 2000 as the base year, is ____A. 125B. 62.5C. 160D. Cannot be determined |
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Answer» Correct Answer - C (i) Let the total expenditure in 2000 and 2006 be Rs. 5x and Rs. 8x, respectively. (ii) Use formula to find cost of the living index. |
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| 31. |
The list price of an AC is Rs. 20,000. The shopkeeper sold it by allowing a 4% discount and charged 5% sales tax. By mistake , while calculating the bill, he considered 5% discount and 4% sales tax. As a result, the customer must have paid ____.A. Rs. 200 lessB. Rs. 400 lessC. Rs. 400 moreD. Rs. 200 more |
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Answer» Correct Answer - B List price = Rs. 20,000 Discount (in Rs.) `=(4)/(100)(20,000)=800` Price after discount = Rs. 19,200 Sales tax (in Rs.) `=(5)/(100)(19,200)=960` Amount to be paid (in Rs.) =19,200+960=20,160 Discount calculated (in Rs.) `=(5)/(100)(20,000)=1000` Calculated price after discount =Rs. 19,000 Sales tax calculated (in Rs.) `=(4)/(100)(19,000)` =760 Amount actually paid (in Rs.) =19,000+760=19,760 `therefore` The customer must have paid (20,160-17,760), i.e., Rs. 400 less. |
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| 32. |
Sujit purchased a furniture set which is listed at Rs. 58,600 followed by a discount of 10%. If sales tax is charged at the rate of 5%, then the amount Sujit has to pay to buy the furniture is ______. (in Rs.)A. 53477B. 55377C. 56446D. 54658 |
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Answer» Correct Answer - B First, deduct the discount from the list price, and then find the sales tax on the remaining amount. |
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| 33. |
A customer goes to a store to buy a bag costing Rs. 648 at marked rice. The sales tax to be levied on the bag is 8%. But the customer asks the trader to give a discount, after which she has to pay Rs. 648 to buy the bag. How much discount was given to the customer ? |
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Answer» Let the price of the bag after the discount be Rs. 100x. Price after sales tax =100x+8x =Rs. 108x Given that 108x=648 `implies x=6` Price after discount =Rs. 100x `=100xx6` =Rs. 600 `therefore ` Discount given =648-600=Rs. 48. |
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| 34. |
Calculate the total sales tax levied on the following products. (a) A cell phone worth Rs. 6000, sales tax at 8%. (b) An electric lamp worth Rs. 300, sales tax at 6%. (c ) Readymade shirts worth Rs. 1500, sales tax at 8%. |
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Answer» Sales tax on the given commodities : Cell phone `=(8)/(100)xx6000= Rs. 480` Electric lamp `=(6)/(100)xx300= Rs. 18` Readymade shirts `=(8)/(100)xx1500=Rs. 120` `therefore` Total sales tax levied =Rs. (480+18+120)=Rs. 618. |
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| 35. |
Ananya goes to a store to buy a mobile phone costing Rs. 15, 675. The rate of sales tax is 10%. She asks the store keeper to allow a discount to such an extent that she has to pay Rs. 15,675 inclusive of sales tax. Find the amount of discount to be allowed by the shopkeeper.A. Rs. 1220B. Rs. 1567C. Rs. 1375D. Rs. 1425 |
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Answer» Correct Answer - D Let the discount be Rs. X, then `(5675-x)xx(110)/(100)=15675`. |
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