Tag: maths

Quizzes (518) Questions (9324)

Questions Related to maths

Multiple choice installments banking business and commercial activities economics maths

A man buys an iPhone $6$ for Rs. $53{,}000$. He realizes that he cannot pay such a large amount of money right now, so he decides to pay Rs. $4{,}505$ monthly for $12$ months. This amount of Rs. $4{,}505$ is called as:

  1. Simple Interest

  2. Selling Price

  3. Principal Amount

  4. Instalment
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

$\Rightarrow$  A man buys an iPhone $6$ for $Rs.53,000.$ He realize the he cannot pay such a large amount of money right now, so he decides to pay $Rs.4,505$ monthly for $12$ months. This amount of $Rs.4,505$ is called as : $Installment.$

$\Rightarrow$  The monthly or period payment in installment purchase is termed as installment.
$\Rightarrow$   In the case of installment purchase, the purchase happens as soon as the agreement between the buyer and financing Difference between Hire Purchase vs. Installment Purchase company is entered into.
$\Rightarrow$  In installment purchase, purchase and ownership take place before the complete payment.

Multiple choice installments banking business and commercial activities economics maths

A certain number of tennis balls were purchased for Rs 450. Five more balls could have been purchased in the same amount if each ball cheaper by Rs 15. The number of ball purchased was __________

  1. 10

  2. 15

  3. 20

  4. 25
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let's take number of ball purchased=x  for Rs 450.
As per question, 
$\frac { 450 }{ x }=\frac { (450) }{ x+5 }+15 $
$\frac { 30 }{ x } =\frac { 30 }{ x+5 } +1$
$30x+{ x }^{ 2 }+5x=30x+150$
${ x }^{ 2 }+15x-150=0$
${ x }^{ 2 }+15x-10x-150=0$
${ x }(x+15)-10(x+15)=0$
$(x-10)(x+15)=0$
So, x=10, and x=-15(not possible)
Answer (A) 10

Multiple choice installments banking business and commercial activities economics maths

_________ allows a customer to buy a product by paying only a part of the cash price, and the remaining amount can be paid in instalments.

  1. Instalment scheme

  2. hire purchase scheme

  3. loan scheme

  4. cash scheme
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Instalment scheme allows customers to pay a sum of money in small parts in a fixed period of time. A part of the amount of product is paid at the time of purchase and rest is paid in regular periodic instalments.

Multiple choice installments banking business and commercial activities economics maths

Which of the following does not give a difference between a hire purchase and a normal purchase?

  1. Timing of payment for asset.

  2. Quality of asset purchased.

  3. Legal ownership of asset.

  4. Total cost of asset.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quality of asset purchased does not give a difference between a hire purchase and a nominal purchase

Multiple choice installments banking business and commercial activities economics maths

The depreciation on an asset purchased through hire purchase should be:

  1. Based on the total cost including interest

  2. Based on the cost price of the asset only

  3. Should be straight line only

  4. No depreciation should be provide until the final payment is made
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The depreciation on an asset purchased through hire purchase should be based on the cost price of the asset only.