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    MTH302 Business Mathematics mid term paper 2011

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    MIDTERM EXAMINATION
    Fall 2009
    MTH302- Business Mathematics & Statistics (Session - 3)
    Ref No:
    Time: 60 min
    Marks: 42





    Question No: 1 ( Marks: 1 ) - Please choose one
    The Basic salary of an employee is Rs 7,000. What is the contribution of the company on account of gratuity to the Gratuity Trust Fund?

    ► Rs 636.36
    ► Rs 6363.6
    ► Rs 63.636
    ► Rs 6363

    Question No: 2 ( Marks: 1 ) - Please choose one
    The monthly incomes of A and B are in the ratio 4 : 5, their expenses are in the ratio 5 : 6. If 'A' saves Rs.25 per month and 'B' saves Rs.50 per month, what are their respective incomes?

    ►Rs.400 and Rs.500
    ►Rs.240 and Rs.300
    ►Rs.320 and Rs.400
    ►Rs.440 and Rs.550

    Question No: 3 ( Marks: 1 ) - Please choose one
    Sum of annuity is always

    ► Present value

    ► Future value

    ► Net present value

    ► Current value


    Question No: 4 ( Marks: 1 ) - Please choose one
    In annuity interest is charged by the:
    ► Simple interest method

    ► Compound interest method
    ► Both simple and compound interest method

    ► Accumulated method

    Question No: 5 ( Marks: 1 ) - Please choose one
    Find x if 3(x + 2) - 7 = 11.
    ► 2
    ► -4
    ► 6
    ► 4

    Question No: 6 ( Marks: 1 ) - Please choose one
    The value of x after solving the following linear equation is
    -2x + 6 = 4x - 2

    ► 0
    ► 3
    ► 1/2
    ► 4/3

    Question No: 7 ( Marks: 1 ) - Please choose one
    The sequence of payments at equal interval of time is called
    ► Annuity

    ► Accumulated value

    ► Discounted value

    ► None of these


    Question No: 8 ( Marks: 1 ) - Please choose one
    Ali has improved his typing speed from 40w/m to 60w/m.The percentage improvement is

    ► 20%
    ► 150%
    ► 50%
    ► 30%

    Question No: 9 ( Marks: 1 ) - Please choose one
    Markdown means a reduction from the
    ► Original cost price

    ► Original sale price

    ► Original Net price

    ► None of these


    Question No: 10 ( Marks: 1 ) - Please choose one

    Markup is an amount added to ----------------------------------------

    ► get accumulated interest
    ► a cost price while calculating a selling price.
    ► The principal amount of the loan.
    ► Accumulation factor.

    Question No: 11 ( Marks: 1 ) - Please choose one
    Interest calculated upon the principal amount added to the interest on it is called ……

    ► Simple interest
    ► Compound interest
    ► Annual interest per year
    ► Semi annual interest

    Question No: 12 ( Marks: 1 ) - Please choose one

    Contribution Margin is the Rs. amount that is equal to ----------------------
    ► S – VC
    ► VC – S
    ► FC – VC
    ► VC – FC

    Question No: 13 ( Marks: 1 ) - Please choose one
    Reduction from original selling Price is called ………

    ► Loss
    ► List price
    ► Profit
    ► Markdown

    Question No: 14 ( Marks: 1 ) - Please choose one
    What will be the simple interest earned on an amount of Rs. 16,800 in 9 months at the rate of % p.a?

    ► Rs. 787.50
    ► Rs. 812.50
    ► Rs 860
    ► Rs. 887.50

    Question No: 15 ( Marks: 1 ) - Please choose one
    A percentage is a way of expressing a number as
    ►a fraction of 100 .
    ►sum of number with 100.

    ►multiplication of number with 100.

    ►average of number with 100.

    Question No: 16 ( Marks: 1 ) - Please choose one
    12.5% of a circular plot as a fraction is expressed as 1/8

    ►
    ►
    ►
    ►

    Question No: 17 ( Marks: 1 ) - Please choose one
    To convert a number in percent (%) from a fraction, we do which of the following operation:
    ►add by 100

    ►subtract by 100

    ►multiply by 100

    ►divide by 100


    Question No: 18 ( Marks: 1 ) - Please choose one




    What result will I get when press enter in cell D9?



    ►75
    ►B5+C5+D5+E5+F5
    ►Error
    ►Cannot be determine

    Question No: 19 ( Marks: 1 ) - Please choose one
    Interest paid (earned) on only the original principal borrowed (lent) is often referred to as
    ► simple interest
    ► present value
    ► future value
    ► compound interest

    Question No: 20 ( Marks: 1 ) - Please choose one




    By multiplying the above two matrices we get the following result



    ► Given matrices cannot be multiplied

    Question No: 21 ( Marks: 1 ) - Please choose one
    The formula for finding BEP in units is given by

    ► FC/VC
    ► FC/(S-VC)
    ► CM/FC
    ► CM/VC

    Question No: 22 ( Marks: 1 ) - Please choose one
    If A is a matrix whose determinant is zero then its inverse is given by:

    ► zero
    ► product of its diagonal entries
    ► infinite
    ► cannot be determined

    Question No: 23 ( Marks: 1 ) - Please choose one
    which of the following is linear equation

    ► 2x-3y=-6

    ► x+x+x

    ► 520x²y²

    ► y^2 -3=0


    Question No: 24 ( Marks: 1 ) - Please choose one
    percentage of ratio of given number with standard number is.......
    ►100
    ►Same number
    ►1000
    ►10

    Question No: 25 ( Marks: 3 )
    Find the single discount rate that is equivalent to the series18%, 12%, 9%.
    Solution:

    Let list price = 100

    Series trade discount: Netprice = List price(1-d1)(1-d2)…..(1-dn)
    = 100 (1 - .18)(1 - .12)(1 - .09)
    = 100(.82)(.88)(.91)
    =100(.657)
    =65.7
    Single discount rate = 100 – 65.7
    = 34.3%



    Question No: 26 ( Marks: 5 )
    Compute the amount of compound interest for Rs 3500 at 6% per annum for 2 years.
    Solution:

    S = P(1+R/100)^n
    S= Money accrued after n years also called compound amount
    P= Principle amount
    R= Rate of interest
    n= number of periods

    S= 3500 (1 + 6/100)^2
    =3500 (1 + .06)^2
    =3500(1.06)^2
    = 3500(1.1236)
    S=3933

    Compound interest = S – P
    = 3933 – 3500
    = 433



    Question No: 27 ( Marks: 10 )
    It is advised by the exam department of an institute to the assistant to develop a structure of marks obtained by three students in three different subjects for very quick view & analysis with the following instructions to be followed strictly as;
    a) marks obtained by EACH student in EVERY subject
    b) marks in EACH subject be obtained by EVERY student.

    Also describe & justify the optimality of the structure. If such model is possible then suggest its further extension for numerous numbers of students.

    Solution: The optimal method to solve this problem is by using matrices

    Let the student names be:
    1. Ahmed
    2. Shahzad
    3. Amjad
    Let the subjects be:
    1. Math
    2. Chemistry
    3. Physics

    Math Chemistry Physics
    Ahmed 10 20 30
    Shahzad 15 25 35
    Amjad 20 25 45


    Now let’s convert the above table into a matrix:

    10 20 30
    A = 15 25 35
    20 25 45




    BENEFITS OF MATRICES: The below benefits can help in further extension
    1. Can handle large amount of data:
    So w.r.t to the above question you can increase the no. of students & subjects as per your requirement and a
    2. Analysis of data:
    By using different matrix functions you can easily find out the respective averages and the grades of students.
    3. Simple & Easy:
    The above mentioned matix structure is simple and easy to understand and the data can be easily converted from table to matrix
    4. Easy to evaluate performance:
    Its easy to find each students performance in a specific subject
    5. Easy extension:
    As matrices can handle large amounts of data so you just need to enter the data rest is done by matrices functions.





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