Class 6 Mathematics Notes , Review Exercise 7, Unit-7, Financial Arithmetic, National Book Foundation as Federal Text Board Islamabad

REVIEW EXERCISE 7 

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1. Choose the correct answer in the following:

1. 40% is equal to

A. `\frac {2}{5}`
B. `\frac {3}{10}`
C. 5
D. `\frac {1}{2}`

... Answer is A. `\frac {2}{5}`
40% = `\frac {40}{100}`= `\frac {2}{5}`

2. 2.72 is equal to

A. 1.36%
B. 272%
C. 2.72%
D. 27.29%

... Answer is B. 272%
2.72 = `\frac {272}{100}`= 272%

3. Of the Rs. 1000, 60% is spent. Find the expenditure.

A. Rs. 600
B. Rs. 700
C. Rs. 65
D. Rs. 400

... Answer is A. Rs. 600
60% of Rs. 1000 = `\frac {60}{100}times Rs. 1000`= Rs. 600

4. What percentage of Rs. 25 is Rs. 5?

A. 5%
B. 10%
C. 20%
D. 30%

... Answer is C. 20%
`\frac {5}{25}times 100` = 20%

5.  20% profit means Rs. 20 obtained on

A. Rs. 80
B. Rs. 100
C. Rs. 120
D. Rs. 20

... Answer is B. Rs. 100
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6. If C.P = Rs. 10 and loss = 20% then S.P is

A. Rs. 5
B. Rs. 12
C. Rs. 7
D. Rs. 8

... Answer is C. Rs. 8
Loss = 20% x Rs. 10 = Rs. 2 Thus S.P = C.P - loss = Rs. 10 - Rs. 2 = Rs. 8

7. If C.P = Rs. 1 and profit = Rs. 0.50 then profit percent is :

A. 40%
B. 50%
C. 75%
D. 100%

... Answer is B. 50%
Profit percent = (Profit/ C.P) x 100 = (Rs. 0.50 / Rs. 1 ) x 100 = 50%

8. Discount is expressed as a percentage of

A. sale price
B. cost price
C. marked price
D. profit

... Answer is C. marked price
Discount % = (Discount / Marked Price) x 100

9. If M.P = Rs. 50 and discount = Rs. 6 then discount is

A. 10%
B. 12%
C. 15%
D. 6%

... Answer is B. 12%
Discount % = (Discount / Marked Price) x 100 = (Rs. 6 / Rs. 50) x 100 = 12%

Review Exercise -7 MCQs Quiz 👉  Play Quiz

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2. A and B started a joint business by investing 45% and 55% respectively of the total amount. Find the share of each if profit at the end of year is Rs. 15000. 

Solution: 

Profit = Rs. 15000

Let the total amount is X

A share = 45 % of X = `\frac {45}{100}`X

B share = 55 % of X = `\frac {55}{100}`X

Using ratio method

A share : B share = `\frac {45}{100}`X : `\frac {55}{100}`X

by simplifying to the lowest term

A share : B share = 9 : 11

Total ratio = 9 + 11 = 20

So

A share = `\frac {9}{20}times Rs 15000`

A share = Rs. 6750  --------------Ans.1

and 

B share = `\frac {11}{20}times Rs 15000`

B share = Rs. 8250  --------------Ans.2

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3. Amjad bought a radio set costing Rs. 800. After 6 weeks he sold it at a loss of 8.5%. Find sale price of the radio set.

Solution: 

C.P = Rs. 800

Loss = 8.5%

Since profit or loss is determined on C.P, so

Loss = 8.5% of Rs. 800 = `frac {8.5}{100}times Rs. 800` = Rs. 68

Since

Loss = C.P - S.P

so

S.P =  C.P - Loss =  Rs. 800 - Rs. 68

S.P = Rs. 732 ------Ans.

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4. A shopkeeper bought sugar for Rs. 200. Find sale price if he got a profit of 3%.

Solution: 

C.P = Rs. 200

Profit = 3%

Since profit or loss is determined on C.P, so

Profit = 3% of Rs. 200 = `frac {3}{100}times Rs. 200` = Rs. 6

Since

Profit = S.P - C.P

so

S.P = Profit + C.P = Rs. 6 + Rs. 200 

S.P = Rs. 206 ------Ans.

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5. A shopkeeper bought 50 books at the rate of Rs. 30 per book. He sold them for Rs. 1610. Find profit or loss percent. 

Solution: 

C.P of one book = Rs. 30

C.P of 50 books = Rs. 50 ｘ Rs. 30 = Rs. 1500

Sale price S.P = Rs. 1610

As S.P is greater than C.P, there is a profit and profit percent general formula is

Profit percent = `frac {Rs. 1610 - Rs. 1500}{Rs. 1500}times 100`

Profit percent = `frac {Rs. 110}{Rs. 1500}times 100`

Profit percent = 7.33% -----------Ans.

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6. Usman bought a bicycle for Rs. 3000. He spent Rs. 200 on its repairing and sold it for Rs. 3000. Find loss percent. 

Solution: 

Usman purchased bicycle = Rs. 3000

spent as repair = Rs 200,

Hence,

Cost price c.P = Rs. 3000 + Rs. 200 = Rs. 3200,

Sale price S.P = Rs. 3000

As S.P is smaller than C.P, there is a loss and loss percent general formula is

Loss percent = `frac {Rs. 3200 - Rs. 3000}{Rs. 3200}times 100`

Loss percent = `frac {Rs. 200}{Rs. 3200}times 100`

Loss percent = 6.25% -----------Ans.

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7. A shop keeper bought two articles costing Rs. 1500 each and sold them at a profit of 5%. Find sale price.

Solution: 

C.P = Rs. 1500

Profit = 5%

Since profit or loss is determined on C.P, so

Profit =5% of Rs. 1500 = `frac {5}{100}times Rs. 1500` = Rs. 75

Since

Profit = S.P - C.P

so

S.P = Profit + C.P = Rs. 75 + Rs. 1500 

S.P = Rs. 1575 ------Ans.

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8. Marked price of an item is Rs. 2000. It is sold at a discount of 15%. Find the sale price.

Given: 

M.P = Rs. 2000 

Discount = 15%

To Find:

S.P = ?

Solution:

We will determined the discount first. Since discount is determined on marked price, therefore

Discount = 15 % of Marked price 

Discount = `frac {15}{100}times Rs. 2000`  = Rs.300 

Now 

Sale price = Marked price - Discount

Sale price = Rs. 2000  - Rs. 300 

Sale price = Rs. 1700 ------------Ans.

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9. During a sale, a shopkeeper reduced the price of all goods by 10%. Calculate the marked price, if an item is sold for Rs. 4500.

Given:

S.P = Rs. 4500

Discount = 10 %

 

To Find:

M.P = ?

Solution:

Since 

S.P = M.P - Discount

Where discount is determined on M.P, therefore

Discount = 10 % of M.P

thus

S.P = M.P - 10 % of M.P

S.P = M.P - `frac {10}{100}` M.P

S.P = (1- `frac {10}{100}`) M.P

S.P = (`frac {100 - 10}{100}`) M.P

S.P = (`frac {90}{100}`) M.P

or

M.P = (`frac {100}{90}`) S.P

M.P = (`frac {100}{90}`) Rs.4500

M.P = Rs.5000 ----------------Ans.

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10. A property dealer purchased a house for Rs. 500000. He sold it at a loss of 1.5%. Find sale price of the house.

Solution: 

C.P = Rs. 500,000

Loss = 1.5%

Since profit or loss is determined on C.P, so

Loss = 1.5% of Rs. 500000 = `frac {1.5}{100}times Rs. 500,000` = Rs. 7,500

Since

Loss = C.P - S.P

so

S.P =  C.P - Loss =  Rs. 500,000 - Rs. 7,500

S.P = Rs. 492,500 ------Ans.

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Shortcut links for:

1. Real Life Word Problems on Financial Mathematics, Property Tax, General Sale Tax (GST), Zakat, Ushr, Profit and Loss, Markup, Percentage, Proportion.

2. 5th class Notes: English, Social Study (S.St.), General Science (G.Sc.), Urdu (اُردو), Islamiat (اسلامیات), Mathematics

3. 6th class Notes: Mathematics

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