Q. In a race, the average speed of a runner is 10 km/h. If he runs for 2 hours and then walks for 1 hour at 5 km/h, what is his average speed for the entire journey?
A.
8 km/h
B.
9 km/h
C.
10 km/h
D.
11 km/h
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Solution
Distance covered while running = 10 km/h × 2 h = 20 km. Distance covered while walking = 5 km/h × 1 h = 5 km. Total distance = 25 km, total time = 3 h. Average speed = 25 km / 3 h = 8.33 km/h.
Correct Answer:
B
— 9 km/h
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Q. In a race, the average speed of a runner is 10 km/h. If he runs for 2 hours, how far does he run? (2023)
A.
15 km
B.
20 km
C.
25 km
D.
30 km
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Solution
Distance = Speed × Time = 10 km/h × 2 h = 20 km.
Correct Answer:
D
— 30 km
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Q. In a race, the average speed of a runner is 12 km/h. If the runner completes the race in 2 hours, what is the distance of the race? (2023)
A.
20 km
B.
22 km
C.
24 km
D.
30 km
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Solution
Distance = Speed × Time = 12 km/h × 2 h = 24 km.
Correct Answer:
C
— 24 km
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Q. In a race, the average speed of a runner is 12 km/h. If the runner wants to complete the race in 2 hours, how far is the race? (2023)
A.
20 km
B.
24 km
C.
30 km
D.
36 km
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Solution
Distance = Speed × Time = 12 km/h × 2 h = 24 km.
Correct Answer:
B
— 24 km
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Q. In a school, the ratio of teachers to students is 1:20. If there are 1000 students, how many teachers are there?
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Solution
If the ratio of teachers to students is 1:20, then for 1000 students, the number of teachers is 1000 / 20 = 50 teachers.
Correct Answer:
A
— 50
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Q. In a survey, 60% of the participants preferred Brand A over Brand B. If 240 participants preferred Brand A, how many participants were surveyed in total? (2023)
A.
400
B.
480
C.
600
D.
720
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Solution
Let the total number of participants be x. According to the problem, 60% of x = 240. Therefore, x = 240 / 0.6 = 400.
Correct Answer:
B
— 480
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Q. In a survey, 60% of the participants preferred Brand A over Brand B. If 240 participants preferred Brand B, how many participants were surveyed in total?
A.
400
B.
600
C.
800
D.
1000
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Solution
Let the total number of participants be x. According to the problem, 40% of x = 240. Therefore, x = 240 / 0.4 = 600.
Correct Answer:
B
— 600
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Q. In a survey, the average age of a group of people is 30 years. If one person aged 40 leaves the group, what will be the new average age if the group originally had 10 people? (2023)
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Solution
New total age = (30 × 10) - 40 = 260. New average = 260 / 9 = 28.89, which rounds to 29.
Correct Answer:
B
— 29
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Q. In a survey, the average age of a group of people is 40 years. If one person aged 60 leaves the group, what will be the new average age if the group originally had 10 people?
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Solution
Total age = 40 × 10 = 400. New total age = 400 - 60 = 340. New average = 340 / 9 = 37.78, which rounds to 38.
Correct Answer:
A
— 38
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Q. In a survey, the average age of a group of people is 40 years. If one person aged 60 leaves the group, what will be the new average age if the group originally had 10 members? (2023)
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Solution
Total age = 40 × 10 = 400. New total age = 400 - 60 = 340. New average = 340 / 9 = 37.78, which rounds to 38.
Correct Answer:
A
— 38
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Q. In how many years will a sum of money triple itself at 10% per annum compound interest? (2023)
A.
10 years
B.
12 years
C.
15 years
D.
20 years
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Solution
Using the formula A = P(1 + r)^n, we set 3P = P(1 + 0.1)^n. Solving gives n ≈ 12 years.
Correct Answer:
B
— 12 years
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Q. In how many years will a sum of money triple itself at a compound interest rate of 10% per annum?
A.
10 years
B.
12 years
C.
15 years
D.
20 years
Show solution
Solution
Using the formula A = P(1 + r)^n, we set A = 3P and solve for n, which gives approximately 12 years.
Correct Answer:
B
— 12 years
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Q. In the context of partnerships, what does the term 'buy-sell agreement' refer to?
A.
An agreement to sell the business to a third party
B.
A contract outlining how a partner's share can be sold or transferred
C.
An agreement to buy out a partner's share at market value
D.
A clause that allows partners to sell their shares freely
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Solution
A buy-sell agreement outlines the terms under which a partner's share can be sold or transferred.
Correct Answer:
B
— A contract outlining how a partner's share can be sold or transferred
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Q. In the context of partnerships, what does the term 'fiduciary duty' imply?
A.
Partners must act in their own best interest.
B.
Partners must act in the best interest of the partnership.
C.
Partners can compete with each other.
D.
Partners can withdraw their contributions at any time.
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Solution
Fiduciary duty implies that partners must act in the best interest of the partnership.
Correct Answer:
B
— Partners must act in the best interest of the partnership.
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Q. In the context of partnerships, what does the term 'joint venture' imply?
A.
A permanent partnership between two firms
B.
A temporary partnership for a specific project
C.
A partnership that involves sharing of profits only
D.
A partnership that requires equal investment from all partners
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Solution
A joint venture is typically a temporary partnership formed for a specific project or purpose.
Correct Answer:
B
— A temporary partnership for a specific project
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Q. The average of a set of numbers is 50. If one number is removed, the average becomes 48. What was the number that was removed?
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Solution
Let the number of items be n. Total sum = 50n. After removing one number, the new sum = 48(n - 1). Setting up the equation gives the removed number as 52.
Correct Answer:
B
— 52
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Q. The average of three consecutive integers is 20. What is the smallest of these integers? (2023)
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Solution
Let the integers be x, x+1, x+2. The average is (x + (x + 1) + (x + 2)) / 3 = 20. Solving gives x = 18.
Correct Answer:
A
— 18
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Q. The average score of a student in five subjects is 72. If the student scores 80 in the sixth subject, what will be the new average?
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Solution
New average = (72 * 5 + 80) / 6 = (360 + 80) / 6 = 440 / 6 = 73.33, which rounds to 74.
Correct Answer:
C
— 76
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Q. The ratio of the lengths of two sides of a triangle is 4:5. If the shorter side is 16 cm, what is the length of the longer side?
A.
20 cm
B.
25 cm
C.
30 cm
D.
15 cm
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Solution
If the shorter side is 16 cm and the ratio is 4:5, then the longer side can be calculated as (5/4) * 16 cm = 20 cm.
Correct Answer:
A
— 20 cm
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Q. The ratio of the number of cats to dogs in a shelter is 4:3. If there are 28 cats, how many dogs are there?
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Solution
The ratio of cats to dogs is 4:3. If there are 28 cats, we can set up the proportion: 4/3 = 28/x. Solving for x gives us x = 21. Therefore, there are 21 dogs.
Correct Answer:
A
— 21
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Q. What is a key characteristic of a limited partnership?
A.
All partners have unlimited liability
B.
At least one partner has limited liability
C.
All partners are involved in management
D.
It requires a formal written agreement
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Solution
In a limited partnership, at least one partner has limited liability, while others may have unlimited liability.
Correct Answer:
B
— At least one partner has limited liability
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Q. What is a key characteristic of a partnership?
A.
It is a separate legal entity.
B.
It requires a formal registration process.
C.
It involves shared decision-making.
D.
It limits the number of partners to three.
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Solution
A key characteristic of a partnership is that it involves shared decision-making among the partners.
Correct Answer:
C
— It involves shared decision-making.
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Q. What is a key disadvantage of a general partnership?
A.
Limited access to capital
B.
Unlimited liability for partners
C.
Difficulty in decision-making
D.
Lack of business continuity
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Solution
In a general partnership, all partners have unlimited liability, meaning they are personally responsible for the debts of the business.
Correct Answer:
B
— Unlimited liability for partners
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Q. What is the difference between the amounts obtained by investing $1000 at 8% per annum for 2 years in simple interest and compound interest?
A.
$16
B.
$24
C.
$32
D.
$40
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Solution
SI = 1000 * 8/100 * 2 = $160. CI = 1000(1 + 0.08)^2 = $1166.4. Difference = $1166.4 - $160 = $24.
Correct Answer:
B
— $24
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Q. What is the difference between the compound interest and simple interest on a sum of $1000 at 5% per annum after 2 years? (2023)
A.
$10
B.
$20
C.
$30
D.
$40
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Solution
SI = 1000 * 5 * 2 / 100 = $100. CI = 1000[(1 + 0.05)^2 - 1] = $102.5. The difference is $2.5.
Correct Answer:
B
— $20
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Q. What is the primary advantage of a general partnership?
A.
Limited liability for all partners
B.
Ease of formation and management
C.
Ability to raise capital through public offerings
D.
Tax benefits for partners
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Solution
The primary advantage of a general partnership is its ease of formation and management, as it requires minimal formalities.
Correct Answer:
B
— Ease of formation and management
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Q. What is the primary advantage of a limited partnership?
A.
Unlimited liability for all partners
B.
Limited liability for some partners
C.
Equal management rights for all partners
D.
No need for a formal agreement
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Solution
A limited partnership allows some partners to have limited liability, protecting their personal assets.
Correct Answer:
B
— Limited liability for some partners
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Q. What is the primary advantage of a partnership over a sole proprietorship?
A.
Limited liability for all partners
B.
Greater access to capital and resources
C.
Simplicity in decision-making
D.
Less regulatory scrutiny
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Solution
Partnerships generally have greater access to capital and resources due to the combined contributions of multiple partners.
Correct Answer:
B
— Greater access to capital and resources
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Q. What is the primary advantage of forming a partnership over a sole proprietorship?
A.
Limited liability for all partners
B.
Increased capital and resources
C.
Simplicity in decision-making
D.
Complete control over business decisions
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Solution
Partnerships allow for increased capital and resources through contributions from multiple partners.
Correct Answer:
B
— Increased capital and resources
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Q. What is the primary advantage of forming a partnership?
A.
Limited liability for all partners
B.
Ease of raising capital
C.
Complete control for one partner
D.
No need for formal agreements
Show solution
Solution
One of the primary advantages of partnerships is the ease of raising capital through the combined resources of the partners.
Correct Answer:
B
— Ease of raising capital
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