RISE PREMIER SCHOOL OF ACCOUNTANCY
Section: B – Online
Subject: QM Total Marks: 50
Teacher: Sir Zahid Qavi & Sir Waqar Ansari Time allowed: 60 Minutes
Assessment-2
Date: ___/___/_____
Syllabus: Ch.3,5(S.I) & Ch.8 – 11
Name: Rise ID:
1) Which of the following is/are true about regression lines.
i) It is used to obtained line of best fit between two variables.
ii) We can calculate fixed cost but not variable cost.
A) Only statement (i) is correct B) Only statement (ii) is correct
C) Both statements are correct D) Both statements are not correct
2) The value of x such that 4x, 8x, 8x2 will form a GP is:
A) 2 B) 3
C) 4 D) 5
3) Which of the following are uses of index numbers?
1) It can help in determining purchasing powers and real income.
2) It can help in exploring trends prevailing at the market.
3) It can be used to get feel of the economic tendencies, inflation and deflation.
A) 1 and 2 B) 1 and 3
C) 2 and 3 D) All of the above
4) A person saves Rs.100 in the first month Rs.200 in the second month, Rs.400 in third month and so on for
twelve months. Compute total amount saved by him at the end of twelve months
A) Rs.410,000 B) Rs.400,000
C) Rs.350,000 D) Rs.409,500
5) The semi inter quartile range of the data set is:
14, 23, 9, 12, 21, 18, 8
A) 8 B) 12
C) 9 D) 6
6) A 4-digit pin code can begin with any number except 0,1,2 if repetition of the same digit is allowed, the
probability that the pin will begin with three is
A) 1/7 B) 1/90
C) 1/8 D) 1/49
7) A person invested certain amount for the period of 5 years at 15% per annum simple interest. If the interest
amount per annum is Rs. 150,000. Compute the total amount invested.
A) Rs.1,000,000 B) Rs.1,500,000
C) Rs.2,000,000 D) Rs.2,500,000
8) If the current year’s weighted index is 5% higher than the base year and Fisher’s Ideal Index Number is 250,
find out the Laspeyre’s Price Index Number and Paasche’s Price Index Number.
A) 243 and 256 B) 244 and 256
C) 243 and 255 D) None of these
9) Which of the following statements is correct about Laspeyre’s price index?
A) It fails to account for the fact that people will buy less of those items which have risen in price
B) The denominator in the Laspeyre’s price index has to be recalculated every year to take account of the
most recent quantities consumed.
C) It is based on most recent quantities purchased.
D) It tends to understate inflation
10) Find the sum of all the odd integers from 7 to 7291 inclusive.
A) 13293307 B) 13283007
C) 10293307 D) 15393307
11) A wallet contains fifty Rs. 1000 and fifty Rs. 500 currency notes. If four notes are drawn from the wallet at
random with replacement, the probability that the total amount drawn would exactly be equal to Rs. 3000 is
A) 25% B)37.5%
C) 50% D) 62.5%
12) Calculate simple aggregate price index for the year 2023 for following data considering 2022 as base year
Product Prices in 2022 Prices in 2023
A 50 55
B 60 64
C 70 79
A) 105 B) 110 C) 115 D) 120
13) Consider following data:
∑X = 41.8, ∑Y = 268.3, ∑𝑋 2 = 295.88, ∑XY= 1885.91 and n = 6. The value of b for line of best fit
would be
A) 3.858 B) 3.485
C) 3.385 D) 3.285
14) Find missing frequency for the following frequency distribution assuming the mean of the distribution is 45.6
Wages 10–20 20–30 30–40 40–50 50–60 60–70 70–80
No. of Workers 5 6 7 ? 4 3 9
A) 10 B) 16 C) 14 D) 7
15) If the first and last term of an arithmetic progression are 15 and 85 respectively and sum is 250. Find the common
difference:
A) 15 B) 17.5 C) 20 D) 22.5
16) A committee of 4 teachers is to be formed from 5 mathematics teachers and 6 statistics teachers, how many
committees can be formed, if there must be 2 mathematics teachers and 2 statistics teachers provided that 1
particular mathematics teacher must be part of committee?
A) 40 B) 50 C) 60 D) 80
17) Compute median for the following data.
X 1 2 3 4 5 6 7 8 9
F 8 10 11 16 20 25 15 9 6
A) 4 B) 5 C) 6 D) 9
18) Mr. Adeel saved Rs. x in January, then each subsequent month he saved Rs.100 more than the previous month.
If his total savings at the end of December stood at Rs.16,200 how much did he save in January:
A) Rs.700 B) Rs.800
C) Rs.900 D) Rs.1000
19) XYZ and company has developed a new product which would earn a revenue of Rs. 80 million during
the first year. Thereafter, the revenue would decline by 20% each year. Calculate the revenue that
company would be able to earn over the life of the product.
A) 450 million B) 400 million
C) 100 million D) 800 million
20) Which of the following statement as regards to variance is/are correct?
i) It can never be smaller than the standard deviation
ii) It can be zero
A) Only statement (i) is correct B) Only statement (ii) is correct
C) Both statements are correct D) Both statements are not correct
21) A person invests Rs. 90,000 for 6 years. At the end of the loan, she receives a cash transfer of Rs. 122,400
in full and final settlement of the investment. What was the interest rate of the loan?
A) 6% B) 5%
C) 7% D) 8%
22) Calculate the standard deviation and variance for the following data
X 0 1 2 3 4 5 6
f 5 7 4 2 3 11 8
A) 1.095, 1.2 B) 1.2, 0.346
C) 2.177, 4.74 D) 1, 1.44
23) ∑(x-𝑥)(y-𝑦)=954 and standard deviation of x is 21.5 and standard deviation of y is 10.61 r=0.524
then find n=?
A) 20 B) 7 C) 19 D) 8
24) A bag contains 4 black and 6 red balls 2 balls are drawn from the bag one after another what is the probability
that 1st ball is black and 2nd ball is red
A) 12/15 B) 10/15
C) 4/15 D) 6/15
25) The mean of 100 observations is 50. If one of the observations, which was 50 is replaced by 60 the resulting
mean will be:
A) 50 B) 40
C) 49.9 D) 50.1
