ROUND THREE: GENERAL KNOWLEDGE

What is 20% of £20?

• £2

• £10

• £4

• £3.43

DerbyWinner makes replica models of horses that have won The Grand National. “The Red Rum” – it will date you if you can remember that horse! – cost £65 to make and DerbyWinner wish to sell it a margin of 70%. What price should the company charge?

• £92.86

• £110.50

• £84.50

• £216.67

Last year, the average mark in an exam was 52%. This year, the average mark is 58%. In percentage terms, how much has performance increased by?

• 11.5%

• 6%

• 10.3%

• 5%

Last year, the average mark in an exam was 52%. This year, the average mark is 58%. In terms of percentage points, how much has performance increased by?

• 11.5 percentage points

• 6 percentage points

• 10.3 percentage points

• 5 percentage points

Last year, the average mark in an exam was 52%. This year, the average mark is 58%. What can we say about the trend with regard to the average mark in this exam?Last year, the average mark in an exam was 52%. This year, the average mark is 58%. What can we say about the trend with regard to the average mark in this exam?

• Trend is going up

• Trend is going down

• We cannot tell anything about the trend as it takes a minimum of three distinct data points to begin to determine a trend

• Nothing as we would need to see all exam results and not just the average

Last year, the average mark in an exam was 52%. This year, the average mark is 58%. Last year the standard deviation was 5.4 and this year the standard deviation was 13.6. Which of the following statements is true:

• In each year, 52% and 58% respectively were the most common marks achieved by students

• Last year, no mark was higher than 57% and this year no mark was higher than 72%

• This year, there were more marks at both the higher end (closer to 100) and at the lower end (closer to 0) than last year

• Students this year performed much better than their peers in other schools

My Man City season ticket this year, even though still a snip at £880, is 10% dearer than it was last year. How much did it cost last year?

• £800

• £792

• £968

• £830

I make models of the Edinburgh Napier University Craiglockhart campus that I sell to students on graduation day. The students are so delighted to see the back of both me and the Uni that they will buy anything! The models cost me £35 to make and I want to achieve a mark-up of 35%. What price should I charge?

• £53.85

• £70.00

• £57.75

• £47.25

I buy pre-made rugby strips that I sell to customers in the UK. One month, I bought and paid for 50 strips but only sold 38. How do I treat those remaining 12 strips in my accounts for that month?

• They have to be a business expense as I have paid for them

• They will be an asset as inventory

• I have to recognise them as an expense – and write them off – because I have not been able to sell them in the month that I bought them

• I wouldn’t have them anywhere in my accounts as I have not sold them yet.

An accountant stops you in the street and offers you £20 profit or £20 cash. What should you do?

• Take the cash

• Take the profit

• Run away

• Kick his head in for being an accountant

Answer explanation

ct here??!In defence of veritas, surely d) must also be correct here??!