MTH302 Business Mathematics & Statistics Assignment No 1 Fall Semester 2012

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MTH302 Business Mathematics & Statistics Assignment No 1 Fall Semester 2012


Assignment # 1
MTH302 (Fall 2012)

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Total marks: 15
Lecture # 1 to 8
Due date: 12-11-12

DON’T MISS THESE Important instructions:
• Upload assignments properly through LMS, (No Assignment will be accepted through email).
• All students are directed to use the font and style of text as is used in this document.
• This is an individual assignment, not group assignment, so keep in mind that you are supposed to submit your own, self made & different assignment even if you discuss the questions with your class fellows. All similar assignments (even with some meaningless modifications) will be awarded zero marks and no excuse will be accepted. This is your responsibility to keep your assignment safe from others.
• Above all instructions are for all assignments so may not be mentioned in future.
• There are 2 questions in the assignment and all questions will be graded.
• Solve the assignment on MS word document and upload your word (.doc) files only. Do not solve the assignment on MS excel. If we get any assignment on MS excel or any format other than word file then it may not be graded.







Question # 1

Basic Salary of Sana is Rs 24,000 per month. According to service rules her allowances are some percentage of basic salary whereas other benefits are percentage of Gross Salary. This month, details of her benefits are as follows:


Benefits Rs. Percent
House Rent 10800
Utilities Allowance 2400
Medical/Group insurance 1860
Miscellaneous Social Charges 2232

Find the percentage of each benefit .i.e. What percent of basic or gross salary are these benefits.(Show the calculation).

Question # 2

Mr. Saleem borrowed an amount of Rs 5,00,000. to purchase a car at the rate of % per annum for a period of 7 years and 4 months. Find the amount of simple interest to be paid by Mr. Saleem.