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All questions of Data Interpretation for UGC NET Exam

If a product with a cost price of $80 is sold for $120, what is the profit percentage?
  • a)
    30%
  • b)
    50%
  • c)
    40%
  • d)
    60%
Correct answer is option 'B'. Can you explain this answer?

Academia Elite answered
Profit = Selling Price - Cost Price = $120 - $80 = $40. Profit Percentage = (Profit / Cost Price) * 100% = (40 / 80) * 100% = 50%. Therefore, the profit percentage is 50%.

If a product with a cost price of $50 is sold at a 20% profit, what is the selling price?
  • a)
    $60
  • b)
    $55
  • c)
    $45
  • d)
    $40
Correct answer is option 'A'. Can you explain this answer?

Profit Percentage = 20%. Profit = 20% of $50 = 0.2 * $50 = $10. Selling Price = Cost Price + Profit = $50 + $10 = $60. Therefore, the selling price is $60.

A company sold a product for $400 which was bought at $320. What is the profit percentage earned? 
  • a)
    20%
  • b)
    35%
  • c)
    25%
  • d)
    30%
Correct answer is option 'C'. Can you explain this answer?

Profit = Selling Price - Cost Price = $400 - $320 = $80. Profit Percentage = (Profit / Cost Price) * 100% = (80 / 320) * 100% = 25%. Therefore, the profit percentage earned is 25%.

If the marked price of a product is $500 and it is sold for $400, what is the discount percentage?
  • a)
    10%
  • b)
    15%
  • c)
    20%
  • d)
    25%
Correct answer is option 'C'. Can you explain this answer?

Discount = Marked Price - Selling Price = $500 - $400 = $100. Discount Percentage = (Discount / Marked Price) * 100% = (100 / 500) * 100% = 20%. Therefore, the discount percentage is 20%.

What does a ratio compare in data interpretation?
  • a)
    Absolute quantities
  • b)
    Proportional quantities
  • c)
    Relative quantities
  • d)
    Equal quantities
Correct answer is option 'C'. Can you explain this answer?

A ratio compares relative quantities in data interpretation. It shows the proportional relationship between two quantities, indicating how many times one quantity is contained within another.

What concept is related to selling an article at a price lower than its marked price?
  • a)
    Profit
  • b)
    Loss
  • c)
    Discount
  • d)
    Revenue
Correct answer is option 'C'. Can you explain this answer?

Selling an article at a price lower than its marked price is referred to as giving a discount. This practice is common in retail and marketing to attract customers by offering reduced prices from the originally stated or advertised price.

Mathematical Calculation Questions:

When does a person incur a loss while selling an article?
  • a)
    When selling price equals cost price
  • b)
    When selling price is less than cost price
  • c)
    When selling price is greater than cost price
  • d)
    When selling price includes a discount
Correct answer is option 'B'. Can you explain this answer?

A person incurs a loss while selling an article when the selling price is less than the cost price. This results in a financial deficit as the revenue generated from the sale is insufficient to cover the original cost of the article.

What is the purpose of using ratios in data interpretation?
  • a)
    To calculate averages
  • b)
    To compare two quantities
  • c)
    To find discounts
  • d)
    To determine percentages
Correct answer is option 'B'. Can you explain this answer?

Ratios are used in data interpretation to compare two quantities by division, indicating how many times one value contains or is contained within another. They are particularly useful for comparing the relative sizes or proportions of different variables or parts within a dataset.

If the average weight of 5 students is 60 kg, and the average weight of 3 additional students is 70 kg, what is the new average weight of all 8 students? 
  • a)
    64 kg
  • b)
    65 kg
  • c)
    67 kg
  • d)
    : 66 kg
Correct answer is option 'A'. Can you explain this answer?

Academia Elite answered
Total weight of 5 students = 5 * 60 = 300 kg. Total weight of 3 additional students = 3 * 70 = 210 kg. Total weight of all 8 students = 300 + 210 = 510 kg. New average weight = Total weight / Total number of students = 510 / 8 = 64 kg. Therefore, the new average weight of all 8 students is 64 kg.

In the context of trade and business, what does profit represent?
  • a)
    Selling price minus cost price
  • b)
    Cost price minus selling price
  • c)
    Marked price minus selling price
  • d)
    Selling price minus discount price
Correct answer is option 'A'. Can you explain this answer?

Academia Elite answered
Profit in trade and business refers to the amount earned when an article is sold at a price higher than its cost price. It is calculated as the selling price minus the cost price, reflecting the financial gain from a transaction.

What does the average represent in a set of data?
  • a)
    The highest value
  • b)
    The most frequent value
  • c)
    The central value
  • d)
    The lowest value
Correct answer is option 'C'. Can you explain this answer?

The average, also known as the arithmetic mean, represents the central value of a set of data. It is calculated by dividing the sum of all values by the number of values in the dataset, providing an understanding of the general significance or trend of the data.

How is percentage useful in data interpretation?
  • a)
    To find the highest value in a dataset
  • b)
    To compare different categories within a dataset
  • c)
    To calculate the mode of a dataset
  • d)
    To determine the central tendency of data
Correct answer is option 'B'. Can you explain this answer?

Percentage is useful in data interpretation to compare different categories within a dataset. It provides a standardized way to express proportions, facilitating comparisons between different values or parts of a whole.

If the marked price of an item is $200 and it is sold for $160, what is the discount percentage?
  • a)
    10%
  • b)
    15%
  • c)
    20%
  • d)
    25%
Correct answer is option 'C'. Can you explain this answer?

Academia Elite answered
Discount = Marked Price - Selling Price = $200 - $160 = $40. Discount Percentage = (Discount / Marked Price) * 100% = (40 / 200) * 100% = 20%. Therefore, the discount percentage is 20%.

What is the primary purpose of using percentage in data interpretation?
  • a)
    To compare different quantities
  • b)
    To calculate averages
  • c)
    To determine ratios
  • d)
    To find discounts
Correct answer is option 'A'. Can you explain this answer?

Academia Elite answered
Percentage is primarily used in data interpretation to compare different quantities or parts of a whole. It helps in understanding proportions and making relative comparisons between different values or categories within a dataset.

If the ratio of boys to girls in a class of 40 students is 3:2, how many boys are there?
  • a)
    18
  • b)
    20
  • c)
    24
  • d)
    30
Correct answer is option 'C'. Can you explain this answer?

Academia Elite answered
Let the number of boys be 3x and the number of girls be 2x. Total students = 3x + 2x = 5x. Given that 5x = 40, solving for x gives x = 8. Therefore, number of boys = 3x = 3 * 8 = 24.

What does a discount represent in a transaction?
  • a)
    Increased selling price
  • b)
    Reduced cost price
  • c)
    Decreased selling price
  • d)
    Increased profit margin
Correct answer is option 'C'. Can you explain this answer?

Academia Elite answered
A discount in a transaction represents a reduced selling price of an article compared to its marked price. It is offered to customers as an incentive to purchase, often reflecting a percentage decrease from the original retail price.

In data interpretation, what does the average help determine?
  • a)
    Highest value
  • b)
    Lowest value
  • c)
    Central value
  • d)
    Most frequent value
Correct answer is option 'C'. Can you explain this answer?

Academia Elite answered
The average, or arithmetic mean, helps determine the central value of a dataset. It summarizes the general trend or significance of the data by providing a typical value around which the data points are distributed.

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