NTSE - Profit and Loss - (MCQ) on Mathematics EXAM PREPARATION

NTSE - Profit and Loss - (MCQ) on Mathematics EXAM PREPARATION

Dear Readers, Welcome to Quantitative Aptitude #profit_and_loss questions and answers with explanation. These Average solved examples with shortcuts and tricks will help you learn and practice for your Placement Test, competitive exams and entrance exam like Bank PO, IBPS PO, SBI PO, RRB PO, RBI Assistant, LIC,SSC, MBA - MAT, XAT, CAT, NMAT, UPSC, NET, Super 100 Haryana, Buniyaad Scheme Haryana, Super 100 NDA, Jawahar Navodaya Vidyalaya, MP Super 100, Super 100 Bhopal, NTSE etc.

NTSE Entrance Exam Preparation

By learning through our online math's classes for NTSE classes, you will be able to crack your NTSE Entrance Exams easily. We provide all the exam, math's formula, math's important questions, notes, pdf, exam preparation, NTSE registration, NTSE online classes, books, math's book, math's, preparation modal paper, and all types of courses of the scheme called NTSE. Daily math's quizzes on NTSE.

After practicing these tricky Average multiple choice questions, you will be exam ready to deal with any objective type questions.

Introduction Profit And Loss

Every company and business works on the fundamental concept of profit and loss. It is very important to familiarize yourself with profit and loss, not only to run a business or company but also to keep an account of your own expenditure. Money is actually a tricky concept to explain to kids without giving them an opportunity to get hands-on experience. Parents often take their kids to the supermarket to make them learn about the price marked on every good and the calculation of total price. Later, kids come across the concept of discount on the cost price and the concept of comparing prices before purchasing. Comparing prices is also a form of profit and loss as you learn to save money by buying the same good at a comparatively lesser price.

The term 'Profit and Loss' is a concept developed from various applications to real-life problems which take place in our lives almost every day. When a good is re-purchased at a greater price then a profit is incurred. Similarly, if the good is repurchased at a lesser price then there is a loss.

Terms related to Profit and Loss

We have come across the word profit and loss many times. Profit stands for gain, advantage or benefit whereas loss is the opposite of profit that involves expenditure as compared to gain.

Cost Price (CP): It is the amount at which a product is purchased. Sometimes it also includes overhead expenses, transportation cost, etc. For example, you bought a refrigerator at Rs 10,000 and spent Rs 2000 for transportation and Rs 500 for set up. So the total cost price is the sum of all the expenditure done, that is, Rs 12,500.

Selling Price (SP): It is the amount at which a product is sold. It may be more than, equal to or less than the cost price of the product. For example, if a shopkeeper bought a chair at Rs 500 and sold it at Rs 600, then the cost price of the chair is Rs 500 and the selling price of the chair is Rs 600.

Profit (P): If a product is sold at a price more than its cost price then the seller makes a profit. For example, a plot was purchased at Rs 50,000 and three years later it was sold at Rs 1,50,000 then there is a profit of 1 lakh.

Loss (L): If a product is sold at a price less than its cost price then the seller makes a loss.

For example, a phone is bought at Rs 20,000 and a year later it was sold for Rs 12,000 then the seller made a loss of Rs 8000.

Profit Percent (P%): It is the percentage of profit on the cost price.

Loss Percent (L%): It is the percentage of loss on the cost price.

About NTSE( National talent search examination )

NTSE, which stands for the National Talent Search Examination, is one of the most prestigious scholarship programs in India. It is conducted by the National Council of Educational Research and Training (NCERT) to identify talented students and nurture their intellectual abilities. Here's some information about NTSE:

Eligibility: Students studying in Class X in Indian schools, whether government or private, are eligible to appear for the NTSE exam. The exam is conducted in two stages: Stage 1 and Stage 2.

Exam Pattern: The NTSE exam consists of two papers: Mental Ability Test (MAT) and Scholastic Aptitude Test (SAT). The MAT paper tests students' reasoning and analytical abilities, while the SAT paper assesses their knowledge in subjects like Mathematics, Science, Social Sciences, and English. Both papers are conducted on the same day.

Stage 1: This is the state-level examination conducted by the respective State/Union Territory authorities. Students who qualify Stage 1 are eligible to appear for the Stage 2 examination.

Stage 2: This is the national-level examination conducted by the NCERT. Students who clear Stage 2 are eligible for the prestigious NTSE scholarship.

Scholarship: The NTSE scholarship is awarded to students based on their performance in Stage 2. The scholarship amount is currently Rs. 1,250 per month for Class XI and XII and Rs. 2,000 per month for undergraduate and postgraduate studies. In addition to the monetary benefits, NTSE scholars also receive recognition and prestige.

Preparation: NTSE is a highly competitive examination, and thorough preparation is essential. Students should focus on strengthening their logical reasoning, problem-solving skills, and subject knowledge. Regular practice, solving previous years' question papers, and mock tests can greatly help in preparation.

Benefits: Being an NTSE scholar opens up numerous opportunities. It enhances a student's academic profile and increases the chances of getting admission to top colleges and universities. NTSE scholars also have access to various educational resources and guidance programs.

Career Opportunities: NTSE scholars often go on to pursue successful careers in various fields, including engineering, medicine, pure sciences, social sciences, law, and management. The scholarship provides financial support, allowing scholars to focus on their studies and pursue their aspirations.

NTSE is an excellent platform for talented students to showcase their abilities and receive recognition. It not only offers financial assistance but also serves as a stepping stone for higher education and future career prospects.