Question 1

An example of a production overhead would be:

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

materials
labour cost
supervisory costs
rent

Answer

Correct Option: C

Question 2

Repairs, taxes, insurance, rent are all examples of

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

overhead expenses
interest
company profit
cost price

Answer

Correct Option: A

Question 3

An ______ is the additional cost which is added to the cost price of an item.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

interest
cost
overhead
profit

Answer

Correct Option: C

Question 4

Absorption costing is closely related to which of the following cost elements?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Direct labour
Overheads
Total cost
Machine

Answer

Correct Option: B

Question 5

The additional cost spent on transportation, maintenance, labour, repair, etc., expenses incurred are called _______.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

overhead expenses
additional charge
fixed amount
cost price

Answer

Correct Option: A

Question 6

Raman goes to the school book store with Rs.100.he purchases some books and comes back with Rs.68.70 with him.After sometime,he goes again to the store with Rs.250 and purchases some books and comes back with Rs.166.50.How much did he spend in all and how much money is left with him?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Rs.126.93, Rs.234.20
Rs.234.20, Rs.118.96
Rs.114.80, Rs.235.20
Rs.115.80, Rs.126.930

Answer

Correct Option: C

Question 7

Brett currently spends $ $160$ each month on gas. His current car is able to travel $30$ miles per gallon of gas. He decides to switch his current car for a new car that is able to travel $40$ miles per gallon of gas. Assuming the price of gas stays the same, how much will he spend on gas each month with the new car?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$ $100$
$ $120$
$ $130$
$ $140$

Answer

Correct Option: B

Question 8

Mr. Sharma left one-third of his property to his son, one-fourth to his daughter and remainder to his wife. If his wife's share is $Rs. 18,000$, what was the worth of his total property?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Rs. $43,100$
Rs. $43,200$
Rs. $43,300$
Rs. $43,400$

Answer

Correct Option: B

Question 9

if 5 men and 9 women can do a piece of work in 19 days then in how many days will 3 men and 6 women do the same work ?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

12 days
15 days
18 days
21 days

Answer

Correct Option: B

Question 10

The average of the price per kg. of rice at $10$ different places was $Rs.4.85$. After a week, the price per kg. was increased by $20$ paise at $3$ places and decreased by $10$ paise at one place. The new average of price per kg is :

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$Rs. 4.88$
$Rs. 4.86$
$Rs. 4.90$
$Rs. 5.35$

Answer

Correct Option: A

Question 11

The cost price and the overhead expanses together make up the effective seilling price.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

True
False

Answer

Correct Option: A

Question 12

A boy saves $Rs 4.65$ daily than the least number of days in which he will be also to save an exact number of rupees is

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$15$
$20$
$12$
$10$

Answer

Correct Option: B

Question 13

If the cost of $x$ metres of wire is $d$ rupees, then what is the cost of $y$ metres of wire at the same rate?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Rs. $x\dfrac{d}{y}$
Rs. $xd$
Rs. $y\dfrac{d}{x}$
Rs. $yd$

Answer

Correct Option: C

Question 14

$A 'B'$ & $'C'$ are going to buy books that cost $Rs 540$ if A pays $Rs 40$ more than B and B pays twice as much as C, how much does C pay?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$Rs 100$
$Rs 140$
$Rs 160$
$Rs 200$

Answer

Correct Option: A

Question 15

Karuna bought a car for a certain sum of money. She spent $10$% ofthe cost on repairs and sold the car for a profit of Rs. $11,000$. How much did she spend on repairs, if she made a profit of $20$%?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Rs. $4,000$
Rs. $4,400$
Rs. $5,500$
Rs. $5,000$

Answer

Correct Option: D

Question 16

The cost of manufacturing a TV set is made up of material costs labour costs and overhead costs These costs are in the ratio $4 : 3 : 2$ If materials costs and labour costs rise by $10 \%$ and $8 \%$ respectively while the overhead costs reduce by $5 \%$ what is the percentage increase in the total coast of the TV set ?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$6 \%$
$8 \%$
$4 \%$
$10 \%$

Answer

Correct Option: A

Question 17

Maya bought a television for $14,500$ rupees and spent $500$ rupees on transportation. she sold that television for $12,000$ rupees. Calculate her loss percent.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$12.22\%$
$32.23\%$
$22.22\%$
$20\%$

Answer

Correct Option: D

Question 18

A company buy a machine for $7000$ rupees and spends $2000$ for electricity and labour charges. If he sells these machine at $5000$ rupees. Find his loss percent.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$12.22\%$
$32.23\%$
$22.22\%$
$44.44\%$

Answer

Correct Option: D

Question 19

A mechanic bought an old car for 2300 rupees and spent 1200 rupees on its repair, denting and painting. He sold that car for 4500 rupees. Calculate his profit percent.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

12.22%
32.23%
28.57%
12.45%

Answer

Correct Option: C

Question 20

Mike bought an old cycle for $500$ rupees and spent $100$ rupees on its repair. He sold that cycle for $1200$ rupees. Calculate his profit percent.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$12.22\%$
$32.23\%$
$22.22\%$
$100\%$

Answer

Correct Option: D

Question 21

Dolly buys some laptop from a wholesaler for Rs. 10000 and spends Rs. 2000 on its transportation's, Rs. 1400 for delivery charges and Rs. 1300 for load man etc. Find the overhead charges spent by Dolly.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

3300
4700
2000
5000

Answer

Correct Option: B

Question 22

Ann bought a new car for Rs. 150000 and spent Rs. 4000 for registration and transportation for Rs. 2000. What is the total amount she spent including the overhead charges?

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

156000
234000
341900
44100

Answer

Correct Option: A

Question 23

Mike buys some electronic goods from a wholesaler for Rs. 650 and spends Rs. 200 on its transportation's, etc. If he sells these electronic goods for Rs. 900; find the overhead expenses spent by Mike. and find profit.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Rs.650, Rs. 50
Rs. 900, Rs. 150
Rs. 200, Rs.50
Rs .850 , Rs.100

Answer

Correct Option: C

Question 24

The amount spent on repairs, labour charges and transportation etc expenses are called as

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

overhead expenses
underneath expenses
beneath expenses
fixed expenses

Answer

Correct Option: A

Question 25

A person bought a shirt at a certain price and paid the same price for the trouser. If the trouser had cost rupees twenty less and the shirt $Rs.15$ more, the price of the trouser would have only half that of the shirt. Find the cost of shirt.

maths profit-loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

$Rs.60$
$Rs.45$
$Rs.55$
$Rs.50$

Answer

Correct Option: C

Question 26

A trader buys some goods for Rs $150$. If the overhead expenses be $12\%$ of cost price, then at what price should it be sold to earn $10\%$ profit?

maths profit - loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

Rs $184.80$
Rs $185.80$
Rs $187.80$
Rs $188.80$

Answer

Correct Option: A

Question 27

$Assertion$ (A) By the early 20th century, America became the biggest supplier of wheat to Europe.

$Reason$ (R) The expansion of the railways during the period greatly facilitated the transport of grain.

maths profit - loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

A is true, R is false.
A is false, R is true.
Both A and R are true, but R is not the correct explanation of A.
Both A and R are true and R is the correct explanation of A.

Answer

Correct Option: C

Description: introduction to total cost price of the article
Number of Questions: 27
Created by: Manjit Singh
Tags: life mathematics profit - loss commercial arithmetic profit-loss comparing quantities maths comparing quantities using proportion managing money profit, loss and discount

Introduction to total cost price of the article - class-VII

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