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mth302 solved midterm paper

MIDTERM EXAMINATION

Fall 2009

MTH302- Business Mathematics & Statistics (Session - 2)

Time: 60 min

Marks: 42

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

45% of what is 9?

. 20

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mth302 solved midterm paper

. 40

. 30

. 10

Question No: 2 ( Marks: 1 ) - Please choose one

What will be the answer of the SUMIF formula?

. 1075

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mth302 solved midterm paper

. 985

. 855

. 130

Question No: 3 ( Marks: 1 ) - Please choose one

After the merchant buys merchandise, it is sold at a higher price called the _______

. Sale price

. Revenue discount

. Selling price

. Cost price

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mth302 solved midterm paper

Question No: 4 ( Marks: 1 ) - Please choose one

In the case of partial payments, the _______ is the partial payment plus the partial cash

discount

. Amount received

. Amount returned

. Amount credited

. Amount displaced

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mth302 solved midterm paper

Question No: 5 ( Marks: 1 ) - Please choose one

In a friendly cricket between India and Pakistan, Pakistan is scoring at a rate 7% more than

India in 35 overs. If the India’s score after 35 overs was 230 what’s Pakistan score now?

. 250

. 235

. 246

. 240

Question No: 6 ( Marks: 1 ) - Please choose one

0.20% = ------------

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mth302 solved midterm paper

.........0.2

. 0.02

. 0.002

. 0.0002

Question No: 7 ( Marks: 1 ) - Please choose one

, then AB is --------------------------

.

.

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mth302 solved midterm paper

.

.

Question No: 8 ( Marks: 1 ) - Please choose one

What will be the base of 25% rate and percentage is 65?

. 216

. 250

. 260

. None of these

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mth302 solved midterm paper

Question No: 9 ( Marks: 1 ) - Please choose one

The formula for compound interest for n number of periods is

.........S = P(1 + r/100)* n

.........S = P(1 + n/100)^ r

.........S = P(1 + r/100)^ n

.........S = P(1 + r/100)/ n

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mth302 solved midterm paper

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

According to the local laws, the allowances are considered tax free if they are up to

. half of the basic salary

. one fourth of the basic salary

. one third of the basic salary

. 55% of the basic salary

Question No: 11 ( Marks: 1 ) - Please choose one

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mth302 solved midterm paper

Amount of discount is obtained as

.........Percentage of Discount x List Price

. Percentage of Discount / List Price

. Percentage of Discount - List Price

. None of these

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

In which Trust Fund, the company does not deduct, but only contribute 1/11th of Basic Salary

of the employee per month?

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mth302 solved midterm paper

. Provident Fund

. Gratuity Fund

. Stock yield

. Interest

Question No: 13 ( Marks: 1 ) - Please choose one

The value of x for the equation -(-x - 5) = x – 2 is ------------------

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mth302 solved midterm paper

. no solutions

. -5

. 3

. 1 / 2

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

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mth302 solved midterm paper

.........Rs. 887.50

Question No: 15 ( Marks: 1 ) - Please choose one

This example returns the present value of an investment that pays Rs. 250 at the end of every

month for 2 years. The money paid out will earn 7.5% annually.

.........=PV (7.5%/12, 2*12, 250, 1)

.........=PV (7.5%/12, 2*12, 250, 0)

.........=PV (7.5%/12, 2, 250, 0)

.........=PV (7.5%, 2*12, 250, 1)

Question No: 16 ( Marks: 1 ) - Please choose one

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mth302 solved midterm paper

All formula in Excel start with

.........+

.........=

......... -

.........%

Question No: 17 ( 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.

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mth302 solved midterm paper

.........average of number with 100.

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

Given : List Price =5500Rs , Discount = 850Rs, then Net Cost Price will be

.........6350 Rs

6350 Rs

.........5508 Rs

5508 Rs

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mth302 solved midterm paper

.........5585 Rs

.........4650 Rs

Question No: 19 ( Marks: 1 ) - Please choose one

If C = Cost price, S = Selling Price then the margin on the cost is equal to

.........

.........

.........

.........

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mth302 solved midterm paper

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

In 2 years you are to receive $10,000. If the interest rate were to suddenly decrease, the

present value of that future amount to you would

. Fall

. Rise

. remain unchanged

. The correct answer cannot be determined without more information

Question No: 21 ( Marks: 1 ) - Please choose one

The net price of a computer table is 2500 and list price 3000. The trade discount will be

. 13%

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mth302 solved midterm paper

. 17%

. 21%

. 25%

Question No: 22 ( Marks: 1 ) - Please choose one

Store A marked down a $ 50 perfume to $ 40 with markdown of $10

The % Markdown is

. 10%

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mth302 solved midterm paper

. 20%

. 30%

. 40%

Question No: 23 ( Marks: 1 ) - Please choose one

Given for a product selling price = $45 and unit variable cost= $30 then Unit contribution

margin will be

. $15

. $75

. $1.5

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mth302 solved midterm paper

. Can not be found from given values.

Question No: 24 ( Marks: 1 ) - Please choose one

3x2 + 5x – 7 is --------------- expression.

. Monomial

. Binomial

. Trinomial

. Linear

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mth302 solved midterm paper

Question No: 25 ( Marks: 3 )

The mean of the numbers 10, 7, 9, 2 and x is 11; find the value of x.

Solution

total = 5*11 =55

total =10+7+9+2+x=55

28+x=55

x=55-28

x=27

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mth302 solved midterm paper

Question No: 26 ( Marks: 5 )

The salary of an employee is as follows:

Basic salary = 50,000 Rs.

What is the amount of allowances if House Rent = 45 %, Conveyance allowance = 2.5 % and

Utilities allowance = 2.5 %?

Solution

House Rent = 50000*45/100 =22500

Conveyance Allowance = 50000*2.5/100 = 1250

Utilities Allowance = 50000*2.5/100 = 1250

Question No: 27 ( Marks: 10 )

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mth302 solved midterm paper

If the price of 16 dozen of eggs and 10 breads of large size is 332.The price of 10 dozen of

eggs and 8 breads of large size is 225.Find the prices of per dozen eggs and per bread.

(Solve this question by using matrices only)

Solution

192X+10y=332

120x+8y=225

from 2

8y=225-120x

y=(225-120x)/8

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mth302 solved midterm paper

put in 1

192x+10(225-120x)/8=332

192x+281.25-150x=332

(192-150)x=332-281.25

42x=50.75

x=1.21

y=(225-120*1.21)/8

y=10

24 / 24