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42 views6 pages

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guptaudaan
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There was an error in the Trial Balance of Mr.

Steel on 31st March, 2022, and the difference in


Books was carried to a Suspense Account. Ongoing through the Books you find that:

(i) ₹5,400 received from Mr. A was posted to the debit of his account.
(ii) ₹1,000 being purchases return were posted to the debit of purchases Account.
(iii) Discount received ₹2,000 was posted to the debit of Discount Account.
(iv) ₹2,740 paid for Repairs to Motor Car was debited to Motor Car Account as ₹1,740.
(v) ₹4,000 paid to B was debited to A’s Account.

Required: Give Journal Entries to rectify the above error and ascertain the amount transferred to
Suspense Account on 31st March, 2022 by showing the Suspense Account, assuming that the
Suspense Account is balanced after the above corrections.
State which types of errors are not disclosed by the agreement of the Trial Balance
Solving equation x2-(a+b)x + ab = 0 are, values of x
(a) a, b
(b) a
(c) b
(d) none

Solving equation x2-24x+135 = 0 are, values of x


(a) 9,6
(b) 9, 15
(c) 15,6
None

29.The solution of the inequality 5-2x < x -5 is


(a) x≥8 3 6
(b) x ≤8
(c) x = 8
(d) None of these

28. The equation -7x + 1 = 5 – 3x will be satisfied for x equal to


(a) 2
(b) -1
(c) 1
(d) none of these
26. The solution of the inequality 8x + 6 < 12x + 14 is:
(a) (-2,2)
(b) (0,-2)
(c) (2, )
(d) (- 2, )

25. The common region in the graph of linear inequalities 2x + y > 18, x + y≥ 12
and 3x + 2y ≤ 34 is:
(a) unbounded
(b) infeasible
(c) feasible and bounded
(d) feasible and unbounded

22. Equations having a common solution are called


(a) linear equations
(b) simultaneous equations
(c) homogeneous equations
(d) None of Above
For a certain commodity the demand equation giving “y” units for a price “p” in
rupees per unit is y = 100 (10 – p). The supply equation giving the supply z units
for a price “p” in rupees per unit is z = 75(p-3). The market price is such at which
demand equals supply. Find the market price and quantity that will be brought
and sold.
(a)₹7,300units
(b)₹8,400units
(c)₹5,200units
(d) None
Time value
23. Given annuity of Rs. 100 amounts to Rs. 3137.12 at 4.5% p.a C.I. The number of
years will be
(a) 25
(b) 20
(c) 22
(d) 10

Question 24 (1
Marks)

24. A= Rs. 5200, R = 5% p.a., T= 6 years. P will be


(a) 2000
(b) 3880
(c) 3000
(d) none of these

21. The present value of an annuity of Rs. 80 a years for 20 years at 5% p.a is
(a) Rs. 997 (appx.)
(b) Rs. 900
(c) Rs. 1,000
(d) none of these

Question 22 (1
Marks)

22. A person bought a house paying Rs. 20,000 cash down and Rs. 4,000 at the end of
each year for 25 yrs. at 5% p.a. C.I. The cash down price is
(a) Rs. 75,000
(b) Rs. 76,000
(c) Rs. 76,375
(d) none of these

20. The time by which a sum of money would treble itself at 8% p. a C. I is


(a) 14.28 years
(b) 14 years
(c) 12 years
(d) none of these
18. The time in which a sum of money will be double at 5% p.a. C.I is
(a) Rs. 10 years
(b) 12 years
(c) 14.2 years
(d) none of these

Question 19 (1
Marks)

19. If A = Rs. 10,000, n = 18yrs., R = 4% p.a. C.I, P will be


(a) Rs. 4,000
(b) Rs. 4,900
(c) Rs. 4,500
(d) none of these

16. A = Rs. 5,200, R = 5% p.a., T = 6 years, P will be


(a) Rs. 2,000
(b) Rs. 3,880
(c) Rs. 3,000
(d) none of these

Question 17 (1
Marks)

17. If P = 1,000, n = 4 years., R = 5% p.a then amount and C. I will be


(a) Rs. 1215 & Rs. 215
(b) Rs. 1210 & Rs. 210
(c) Rs. 2220 & Rs. 220
(d) none of these
15. How much amount is required to be invested every year as to accumulate Rs.
7,96,870 at the end of 10 years, if interest compounded annually at 10% given that
A(10, 0.1) = 15.9374?
(a) Rs. 40,000
(b) Rs. 4,50,000
(c) Rs. 48,000
(d) Rs. 50,000
13. The future value of an annuity of Rs. 500 made annually for 7 years at interest
rate 14% compounded annually is (Given that (1.14)7 = 2.5023):
(a) Rs. 5563.25
(b) Rs. 5365.35
(c) Rs. 5653.35
(d) Rs. 5356.25
Question 14 (1
Marks)

14. The difference between the Compound interest and Simple interest at 10% per
annum for 4 years on Rs. 10,000 is Rs. _________.
(a) 650
(b) 640
(c) 641
(d) 600
stion 11 (1 Marks)

11. A compound interest on a sum for 2 years is Rs. 30 more than the simple interest
at the rate of 5% per annum then the sum is:
(a) Rs. 11,000
(b) Rs. 13,000
(c) Rs. 12,000
(d) Rs. 15,000

Question 12 (1 Marks)

12. A person lends Rs. 6,000 for 4 years and Rs. 8,000 for 3 years at simple interest.
If he gets Rs. 2,400 as total interest, the rate of interest is:
(a) 5%
(b) 4%
(c) 6%
(d) 7%

p/c

.The solution of the inequality 5-2x3x6-5 is


(a) x≥8
(b) x ≤8
(c) x = 8
(d) None of these.

Question 30 (1
Marks)

30. On the average an experienced person does 5 units of work while a fresh one
work 3 units of work daily but the employer has to maintain an output of atleast
30 units of work per day. The situation can be expressed as: .
(a) 5x + 3y < 30
(b) 5x + 3y ≤ 30
(c) 7x + 5y > 35
(d) 5x + 3y ≥ 30 x ≥ 0, y ≥ 0

If a > 0 and b < 0, it follows that:


(a) 1 / a > 1 / b
(b) 1 / a < 1 / b
(c) 1 / a = 1 / b
(d) None of these

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