Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Fundamentals of Business Mathematics and StatisticsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. What is the future value of ₹1,000 invested for 2 years at an interest rate of 5% per annum, compounded annually? ₹1,050 ₹1,102.50 ₹1,100 ₹1,120 None 2. The present value of ₹5,000 due in 3 years at a discount rate of 8% per annum is: ₹3,850.72 ₹3,943.92 ₹3,480.50 ₹4,000 None 3. If the simple interest on ₹12,000 for 3 years is ₹1,800, the rate of interest is: 5% 6% 7% 8% None 4. The annuity formula for calculating the present value of an annuity is: PV = P × (1 + r)^n PV = P × [(1 + r)^n - 1] / r PV = P × (1 - (1 + r)^-n) / r PV = P × r × (1 + r)^n None 5. A business loan of ₹10,000 is repaid annually for 4 years with equal payments at an interest rate of 10%. What is the annual repayment amount? ₹3,320.58 ₹3,771.50 ₹4,000 ₹3,500 None 6. The compound interest on ₹2,000 for 2 years at an annual rate of 12% is: ₹480 ₹400 ₹450 ₹460 None 7. If the cost price of an article is ₹5,000 and the selling price is ₹6,000, the profit percentage is: 20% 18% 25% 12% None 8. The total interest earned on ₹10,000 in 2 years at 6% p.a. compound interest is: ₹1,260 ₹1,200 ₹1,200.60 ₹1,350 None 9. The rate of interest in compound interest is increased by 1% annually. If the initial principal is ₹1,000, the total amount after 3 years will be: ₹1,200 ₹1,230.01 ₹1,400 ₹1,305.01 None 10. A business invests ₹1,000 for 3 years at 5% interest compounded quarterly. What is the future value of the investment? ₹1,157.63 ₹1,150 ₹1,125 ₹1,200 None 11. A person took a loan of ₹10,000 at 6% compound interest for 2 years. What is the compound interest at the end of 2 years? ₹1,200 ₹1,260 ₹1,180 ₹1,100 None 12. The effective annual rate of interest if the nominal rate of interest is 8% compounded quarterly is: 8.16% 8.24% 8.03% 8.00% None 13. In a loan amortization schedule, the amount paid in each installment consists of: Principal repayment only Interest payment only Both principal and interest repayment Only loan amount None 14. The total amount for ₹10,000 invested at 10% simple interest for 3 years is: ₹13,000 ₹11,000 ₹12,000 ₹10,300 None 15. If a sum of ₹12,000 is invested at 8% compound interest for 4 years, the amount after 4 years is: ₹14,400 ₹14,128 ₹14,299 ₹14,700 None 16. The principal required to amount to ₹5,000 in 2 years at 12% compound interest annually is: ₹4,000 ₹3,500 ₹4,500 ₹4,200 None 17. The mean of the data set {2, 4, 6, 8, 10} is: 6 5 4 7 None 18. In a frequency distribution, the sum of the squared deviations from the mean is called: Variance Standard deviation Mean deviation Range None 19. Which of the following is a measure of central tendency? Mean Standard deviation Range Variance None 20. If the median of a data set is 25, then: 25 is the middle value 25 is the most frequent value 25 is the arithmetic average None of the above None 21. The mode of a data set is: The sum of all values divided by the number of values The value that occurs most frequently The value that divides the data set into two equal parts None of the above None 22. The coefficient of variation is defined as: The ratio of standard deviation to mean The ratio of mean to standard deviation The square root of variance The square of standard deviation None 23. The probability of an event occurring is always between: -1 and 1 0 and 1 1 and 2 0 and 100% None 24. In a normal distribution, the mean, median, and mode are: Different values Equal Variably different None of the above None 25. If the correlation coefficient between two variables is 0.85, it indicates: Strong positive correlation No correlation Weak negative correlation Strong negative correlation None 26. The standard deviation is: Square of variance Square root of variance Average of the data points None of the above None 27. If a data set has a negative skewness, then: The distribution is left-skewed The distribution is right-skewed The distribution is symmetrical None of the above None 28. The sum of deviations from the mean in any data set is: Equal to the standard deviation Zero Equal to the variance None of the above None 29. The range of a data set is: The difference between the largest and smallest values The mean of the data set The median of the data set The most frequent value None 30. Which of the following is the correct formula for calculating the variance for a population? Σ(x - μ)² / N Σ(x - x)̄² / N Σ(x - x)̄² / (N - 1) Σ(x - μ)² / (N - 1) None 31. A right-skewed distribution indicates that: The mean is greater than the median The median is greater than the mean The mode is greater than the mean The distribution is symmetric None 32. The z-score of a data point represents: The position of the data point relative to the mean The deviation of the data point from the median The difference between the mean and mode The spread of the data None 33. The total probability of all possible outcomes in a probability distribution is: 1 0 Between 0 and 1 Dependent on the sample size None 34. The expected value (mean) of a discrete random variable is calculated as: Σ xP(x) Σ P(x) / x Σ P(x)² Σ x²P(x) None 35. In a normal distribution, about what percentage of data lies within ±1 standard deviation of the mean? 68% 95% 99% 50% None 36. A business decides to conduct a survey among 1000 customers. If 700 customers respond, the response rate is: 60% 70% 75% 80% None 37. Which of the following statements is true about the standard deviation? It can never be negative It can be negative It is always equal to the variance It is only used for categorical dat None 38. The total area under a probability density function curve for a continuous random variable is: 1 0 Infinite Between 0 and 1 None 39. The chi-square test is used to: Test the variance of a population Test the relationship between two variables Test the normality of data Test for goodness of fit or independence None 40. The probability of drawing a red card from a deck of 52 cards is: 1/2 1/4 26/52 1/26 None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test.Look out for results and future opportunities.Stay Connected !! Your quiz time is about to finish. 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