Grade 8 - Mathematics 9.40 Business Mathematics Review Test

Q 1: Manufacturers sell articles to the whole sale dealers at a lower price than the market price. This reduction is known as _______. loss reduction profit discount gain reduction trade or volume discount

Q 2: If the cost price is $640, selling price is $680, profit percentage is ______. 5 3/4% 12% 3 1/8% 6 1/4%

Q 3: Using the normal convention, simple interest R = 100I/PT. True False

Q 4: A business done jointly by two or more persons is called a ______. non-profit organization sole proprietorship partnership

Q 5: If the selling price is less than the cost price there is ______. Answer:

Q 6: R = 8%, T = 2 years and I = $160 then Principal =______. $1200 $1000 $2000 $500

Q 7: Matt and John started a business with capitals of $3000, and $5000 respectively and made a profit of $1880, then Matt's share of the profit would be _____. $930 $800 $705

Q 8: If S.P. = $840, Loss = 16%, then C.P. = $______. 1000 1050 1075 1025

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