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Test: Principles used in Data Interpretation - UGC NET MCQ


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20 Questions MCQ Test - Test: Principles used in Data Interpretation

Test: Principles used in Data Interpretation for UGC NET 2024 is part of UGC NET preparation. The Test: Principles used in Data Interpretation questions and answers have been prepared according to the UGC NET exam syllabus.The Test: Principles used in Data Interpretation MCQs are made for UGC NET 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Principles used in Data Interpretation below.
Solutions of Test: Principles used in Data Interpretation questions in English are available as part of our course for UGC NET & Test: Principles used in Data Interpretation solutions in Hindi for UGC NET course. Download more important topics, notes, lectures and mock test series for UGC NET Exam by signing up for free. Attempt Test: Principles used in Data Interpretation | 20 questions in 25 minutes | Mock test for UGC NET preparation | Free important questions MCQ to study for UGC NET Exam | Download free PDF with solutions
Test: Principles used in Data Interpretation - Question 1
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What is the primary purpose of using percentage in data interpretation?

Detailed Solution for Test: Principles used in Data Interpretation - Question 1
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.
Test: Principles used in Data Interpretation - Question 2
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What does the average represent in a set of data?

Detailed Solution for Test: Principles used in Data Interpretation - Question 2
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.
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Test: Principles used in Data Interpretation - Question 3
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What is the purpose of using ratios in data interpretation?

Detailed Solution for Test: Principles used in Data Interpretation - Question 3
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.
Test: Principles used in Data Interpretation - Question 4
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In the context of trade and business, what does profit represent?
Detailed Solution for Test: Principles used in Data Interpretation - Question 4
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.
Test: Principles used in Data Interpretation - Question 5
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When does a person incur a loss while selling an article?
Detailed Solution for Test: Principles used in Data Interpretation - Question 5
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.
Test: Principles used in Data Interpretation - Question 6
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What concept is related to selling an article at a price lower than its marked price?
Detailed Solution for Test: Principles used in Data Interpretation - Question 6
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:
Test: Principles used in Data Interpretation - Question 7
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Calculate the average of the following set of numbers: 15, 20, 25, 30, 35.
Detailed Solution for Test: Principles used in Data Interpretation - Question 7

Average = (15 + 20 + 25 + 30 + 35) / 5 = 125 / 5 = 25. Therefore, the average is 25.

Test: Principles used in Data Interpretation - Question 8
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If a product with a cost price of $80 is sold for $120, what is the profit percentage?
Detailed Solution for Test: Principles used in Data Interpretation - Question 8

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

Test: Principles used in Data Interpretation - Question 9
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Calculate the ratio of boys to girls in a class of 30 students if there are 18 boys.
Detailed Solution for Test: Principles used in Data Interpretation - Question 9

Ratio of boys to girls = 18 : (30 - 18) = 18 : 12 = 3 : 2. Therefore, the ratio of boys to girls is 3 : 2.

Test: Principles used in Data Interpretation - Question 10
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If the marked price of a product is $500 and it is sold for $400, what is the discount percentage?
Detailed Solution for Test: Principles used in Data Interpretation - Question 10
Discount = Marked Price - Selling Price = $500 - $400 = $100. Discount Percentage = (Discount / Marked Price) * 100% = (100 / 500) * 100% = 20%. Therefore, the discount percentage is 20%.
Test: Principles used in Data Interpretation - Question 11
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A company sold a product for $400 which was bought at $320. What is the profit percentage earned? 
Detailed Solution for Test: Principles used in Data Interpretation - Question 11

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%.

Test: Principles used in Data Interpretation - Question 12
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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? 
Detailed Solution for Test: Principles used in Data Interpretation - Question 12

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.

Test: Principles used in Data Interpretation - Question 13
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In data interpretation, what does the average help determine?
Detailed Solution for Test: Principles used in Data Interpretation - Question 13
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.
Test: Principles used in Data Interpretation - Question 14
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What does a discount represent in a transaction?
Detailed Solution for Test: Principles used in Data Interpretation - Question 14
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.
Test: Principles used in Data Interpretation - Question 15
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How is percentage useful in data interpretation?
Detailed Solution for Test: Principles used in Data Interpretation - Question 15
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.
Test: Principles used in Data Interpretation - Question 16
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What does a ratio compare in data interpretation?
Detailed Solution for Test: Principles used in Data Interpretation - Question 16
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.
Test: Principles used in Data Interpretation - Question 17
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If a product with a cost price of $50 is sold at a 20% profit, what is the selling price?
Detailed Solution for Test: Principles used in Data Interpretation - Question 17
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.
Test: Principles used in Data Interpretation - Question 18
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Calculate the average of the following set of numbers: 12, 15, 18, 21, 24.
Detailed Solution for Test: Principles used in Data Interpretation - Question 18

Average = (12 + 15 + 18 + 21 + 24) / 5 = 90 / 5 = 18. Therefore, the average is 18.

Test: Principles used in Data Interpretation - Question 19
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If the ratio of boys to girls in a class of 40 students is 3:2, how many boys are there?
Detailed Solution for Test: Principles used in Data Interpretation - Question 19
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.
Test: Principles used in Data Interpretation - Question 20
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If the marked price of an item is $200 and it is sold for $160, what is the discount percentage?
Detailed Solution for Test: Principles used in Data Interpretation - Question 20
Discount = Marked Price - Selling Price = $200 - $160 = $40. Discount Percentage = (Discount / Marked Price) * 100% = (40 / 200) * 100% = 20%. Therefore, the discount percentage is 20%.
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