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)

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

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• There are 2 questions in the assignment and all questions will be graded.
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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.