Sail E0 Webinar

8th Grade > Mathematics

COMPARING QUANTITIES MCQs

Total Questions : 59 | Page 5 of 6 pages
Question 41.


Find the compound interest on ₹ 20,000 for 3 years at 10% per annum compounded annually.


  1.     ₹ 6,620
  2.     ₹6,000
  3.     ₹ 26,620
  4.     ₹26,000​
 Discuss Question
Answer: Option A. ->  6,620
:
A

A=P×[1+r100]n, where P is the principal, r is the rate of interest and n is the time period.
C.I = A - P 


Here, P =  20,000, r = 10 %, and n = 3 years


A=20,000×[1+10100]3
A=20,000×[11×11×1110×10×10]
A = 
₹  26,620


So, C.I = 26,620 - 20,000 = ₹ 6,620


Question 42.


The accommodation in an apartment costs ₹ 42 lakh. After 6 months, there was a 10% price hike, the new cost is:


  1.     42,20,000
  2.     46,20,000
  3.     44,20,000
  4.     44,60,000
 Discuss Question
Answer: Option B. -> 46,20,000
:
B
The price hike is 10%. So, 10% of 42,00,000 would give you the price hike.

Hence, 10100×42,00,000=4,20,000
So, adding this amount to the previous price i.e. 42 lakhs would give you the new price.
So, 42,00,000 + 4,20,000 = 
46,20,000


Question 43.


A motorbike was sold by a showroom for 80,000. The owner then sold this bike at 60,000. Find the percentage of profit or loss.


  1.     20%
  2.     25%
  3.     30%
  4.     35%
 Discuss Question
Answer: Option B. -> 25%
:
B

As the selling price is less than the cost price, the owner incurred loss.
Loss = Difference in the amount for which it was purchased and the amount for which it was sold.
Loss= 80000 60000           = 20000


Percentage of loss=losscost price×100 
                                =2000080000×100=25%


Question 44.


According to a survey conducted in a city, 25% were doctors, 30% engineers, 15% businessmen and rest were illiterates. What is the number of illiterates if the total population of the city is 5000?


  1.     2000
  2.     1500
  3.     1000
  4.     500
 Discuss Question
Answer: Option B. -> 1500
:
B

Given: Out of total population, 25% were doctors, 30% engineers, 15% businessmen and rest were illiterates.
Hence, percentage of illiterates =100(25+30+15)=30%


So, number of illiterates =30% of 5000
                                        =30100×5000
                                        =1500


Question 45.


In a bag, there is a total of 30 fruits. Out of which, 20 are oranges and 10 are apples.The fraction of apples in the bag is 13.


  1.     True
  2.     False
  3.     44,20,000
  4.     44,60,000
 Discuss Question
Answer: Option A. -> True
:
A

Fraction of apples =Number of applesTotal number of fruits in the bag 


So, fraction of apples =1030=13


Question 46.


A shopkeeper sold two bats which have a cost price of ₹6000 each. He makes a profit of 10% on one bat but a loss of 5% on the other bat. Find the overall profit or loss in the entire transaction.


  1.     Loss of 300
  2.     Profit of 300
  3.     Profit of 600
  4.     Loss of 600
 Discuss Question
Answer: Option B. -> Profit of 300
:
B

Profit on one of the bats = 10% of ₹ 6000
= 10100×6000= ₹600
Hence, the Selling price
= Cost price + Profit
= ₹ (6000 + 600) = ₹ 6600
Loss on the other bat
= 5% of ₹ 6000
= 5100× 6000
= ₹ 300 
Selling price = Cost price - Loss
= ₹ (6000 - 300)
= ₹ 5700
Total cost price (CP) = ₹ 12000
Total selling price (SP) =6600+5700 = ₹ 12,300
Hence, as SP > CP, he has made a profit of  ₹ (12,30012,000) = ₹ 300.


Question 47.


Find the compound interest paid when a sum of 64,000 is invested for one year and six months at 5% per annum compounded half yearly.


  1.     ₹5421
  2.     ₹4830
  3.     ₹8545
  4.     ₹4921
 Discuss Question
Answer: Option D. -> 4921
:
D

Given that  P = ₹ 64,000  r = 5 % and n = 112 years
Since, the rate of interest is calculated annually , for 6 months it will be 2.5 %
A=P(1+r100)n
Here r = 52 % and n = 3 half years
A=64,000(1+52×100)3
A=64,000(4140)3
A=68921
Compound interest = Amount - Principal
                                     = 68921 - 64000
                                     = ₹ 4921


Question 48.


Shalini deposited 4,00,000 in a bank where she was promised an interest of 10%. She deposited it for a period of two years. Find the difference in the amount if the interest is calculated in a compounded manner to the amount interested in a simple manner.


  1.     ₹4000
  2.     ₹2000
  3.     ₹1000
  4.     ₹500
 Discuss Question
Answer: Option A. -> 4000
:
A

When a principal is promised with an interest to be compounded annually, the amount after one year becomes the principal for the next year. So, 10100×400000=40,000
40,000 added to 4,00000 would be the new principal for the next year i.e. 4,40,000. The interest for the second year is calculated on the new principal amount: 10100×440000×1=44,000
So, the final amount after 2 years(compounded annually with 10% interest) =
440000 + 44000 =  4,84,000.


If the principal would have been deposited for an annual simple interest for 10% for a period of two years would be 10100×400000×2=80,000
Therefore amount = 
4,00000 + 80,000 =  4,80,000.


So, compound interest is 4,000 more than a simple interest for a period of two years. 


Question 49.


A family went to a restaurant for dinner. The bill of ₹3000 was handed which was not inclusive of the 4% Goods and Service Tax (GST). The final bill amount would be?


  1.     ₹ 3120
  2.     ₹ 3300
  3.     ₹ 3395
  4.     ₹ 3595
 Discuss Question
Answer: Option A. -> ₹ 3120
:
A

GST is calculated on the selling price. Since the bill amount is the selling price, the GST is added to the bill amount itself.


So, GST = 4% of ₹ 3000
= 4100×3000 
= ₹ 120


Final bill amount = 3000 + ₹ 120 = ₹ 3120


Question 50.


For a compound interested sum which of the following details are necessary? 


  1.     Principal
  2.     Interest rate
  3.     Time taken to return loan
  4.     Conversion periods
 Discuss Question
Answer: Option A. -> Principal
:
A, B, and D

For a sum whose interest is calculated by compounding, the following things need to be defined:


-Principal


-Rate of interest


-Conversion periods (annual, half-yearly)


The time taken to return the loan is not fixed. Based on the time taken and the other fixed details above, the final interest is calculated.


Latest Videos

Latest Test Papers