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MTH302 (Fall 2010) Assignment # 1
Due date: 28-10-10

Question 1:
Basic Salary = 37000
Allowance = 22000
i.e. 22000/37000*100
59.64%
Taxable Allowance 59.64% - 50%
9.64%
22000-18500
3500
Taxable Income of Employee Basic Salary + Taxable Allowance
37000 + 3500
40500

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Question 2:

Basic Salary 12000
House Rent Allowance 5400
Convenience Allowance 600
Utility Allowance 84
Gross Salary 18040
There are 12 casual, 24 earned and no sick leaves per year where as normal
working days per month are 26. Find the Gross remuneration of the employee.
Casual {(12/ (26 x 12)} x 118040 x 12 = ? Answer
Earned {(24/ (26 x 12)} x 118040 x 12 = ? Answer
Sick Nil

Question 3:

Amount of discount = d × L
Where, d = Percentage of Discount
L = List Price
Net Price = L – Ld = L(1 – d)
Net Price = List Price – Amount of Discount
Net Price = (1-d1)(1-d2)(1-d3)
9100(1-0.20)(1-0.10)(1-0.05)
100(0.8)(0.9)(0.95)
100(0.6840)
24.4
Amount of Discount 9100-6224.4
Answer 2875.6

Question 4:

325000 ( 1+ 0.09)^7
325000 (1.09)^7
325000 (1.828)
Answer = 594112.7

Question 5:

A=P (1+r) ^n-1
28000 (1+0.11) ^20*2
28000(1.11) ^20*2
28000(4.5260)
Answer = 154,728

Question 6:

First we will find out Amount of Change in Rs,
Initial Price – New Price
856-752
104
Change in %age
104/856*100
Answer = 12.149

Question # 7

n = 15
m =12
i = 5%
P . V = 9000
as we know that
F.V = P.V (1 + i /m) ^ n*m
F.V = 9000 (1 + 0.05/12)^ 15*12
F.V = 9000 (1.0041667 )^ 15*12
F.V = 9000 (2.11383 )
F . V = 19024.47
F.V = 192024.47 Answer