MTH302- Business Mathematics & Statistics Solved Midterm Paper

MIDTERM  EXAMINATION

Spring 2009

MTH302- Business Mathematics & Statistics 

Time: 60 min

Marks: 40

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

 A, B and C play cricket. A's runs are to B's runs and B's runs are to C's as 3:2. They get altogether 342 runs.

How many runs did A make?

       ► 162

       ► 108

       ► 72

       ► 112

   

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

 The price of a P4 computer was $12000 last year. What is the price of the computer for this year if the price is decreased by 10%?

       ► $12000

       ► $12500

       ► $10800

       ► $9000

   

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

 Four friends take an IQ test. Their scores are 96, 100, 106, 114. Which of the following statements is true?

       ► The mean is 103.

       ►  The mean is 104.

       ► The median is 100.

       ► The median is 106.

   

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

 Percentage is a ratio of given number with standard number:

       ► 100

       ► Same number

       ► 1000

       ► 10

   

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

 The Virtual University of Pakistan is a growing distant learning university of Pakistan. The number of students in the university is increasing each year. The number of registered students in a course related to business math last year was 7113 and it is increased up to 9242 this year. What is the percentage increase in the number of students?

       ► 23%

       ► 30%

       ► 18%

       ► 42%

   

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

 If A and B are any two matrices of order  and  respectively and m>n and p<q. What should be the condition on m, n, p, q for the product AB to hold?

       ► n>p

       ► m<=q

       ► q=p

       ► n=p

   

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

 The price at which investors buy or sell a share of stock at a given time is referred as

       ► Face value

       ► Market value

       ► Accumulated value

       ► Earning value

   

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

 Gross salary is also called Net salary

       ► True

       ► False

   

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

 Can we subtract a positive integer k from the identity matrix?

       ► Yes

       ► No

   

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

 Net price =

       ► List price +trade discount

       ► List price - trade discount

       ► List price /trade discount

       ► List price * trade discount

   

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

 Division. Symbol: /  is  a type of

       ► Comparison operators  

       ► Concatenation operator 

       ► Reference operators 

       ► Arithmetic operators

   

Question No: 12    ( 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

       ► 5585 Rs

       ► 4650 Rs

   

Question No: 13    ( 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: 14    ( Marks: 1 )    - Please choose one

 If is the matrix of dimension  and is the identity matrix of dimension . Then which of the following is true

       ► AI = I

       ►       AI = A

       ► A + I = A

       ► A + I = I

   

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

 If ratio of boys and girls in a class is 7: 5, which of the following can’t be the total number of the students in the class?

       ► 36

       ► 50

       ► 60

       ► 120

   

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

 SLN returns the straight-line depreciation of an asset for

       ► Zero period

       ► One period

       ► Two periods

       ► Three periods

   

Question No: 17    ( Marks: 1 )    - Please choose one

 Assume you will work for the next 20 years and at the end of each year you will deposit $20,000 into a savings account.  At the end of that 20 year period you will start withdrawing your retirement living expenses from that account at the beginning of every year.  This financial plan involves a _____ problem while you are working and a _____ problem while you are in retirement.

       ► a present value of a dollar, future value of a dollar

       ► a future value of an annuity due, a present value of an annuity due 

       ► a future value of an annuity due, a present value of an ordinary annuity

       ► a future value of an ordinary annuity, a present value of an annuity due

       ► a future value of an ordinary annuity, a present value of an ordinary annuity

   

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

 
By multiplying the above two matrices we get the following result

       ►

       ►

       ►

       ► Given matrices cannot be multiplied

   

Question No: 19    ( 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: 20    ( Marks: 1 )    - Please choose one

 Given  FC = Rs.5000 ,CM= Rs. 30 ,VC= Rs. 150 , Capacity = 320units then BEP in units =   

►4500 units

►167 units

►33 units

►16 units

   

Question No: 21    ( Marks: 2 )

 Find the Discount where price is 2000 and discount rate is 12%.

Solution:

Price = 2000

Discount rate = 12%

Discount = Price * rate

Discount = 2000*12/100

Discount = 240

   

Question No: 22    ( Marks: 3 )

 Calculate compound interest earned on Rs. 2250 invested at 8% per annum for 6 years

   

Solution

compound interest = (1-((1.08)^6))*2250=1320

Question No: 23    ( Marks: 5 )

 If the Basic salary of an employee is Rs 8000 and Allowances are Rs 4,000 . What are the cost on account of 20 casual and 10 sick leaves per year if normal working days per month are 26?  

   

Solution:

Cost of casual leaves per year = {18 / (26 x 12)} x 12000 x 12 = 8307.7 Rs

Cost of Sick leaves per year = {12 / (26 x 12) x 12000 x 12 = 5538.5 Rs.

Question No: 24    ( Marks: 10 )

 The price of medicine inventory is Rs. 500,000.

The series discounts are 20%, 10%, 5%.

What is the single equivalent discount rate?

 if  Invoice was dated May 1^st and  10% discount  is offered if invoice is paid up to 10^thMay. What will be net payment  for invoice value of Rs. 500,000 if paid up to 10^th May.

Solution

List Price=500,000

              D1=20%

              D2=10%

              D3=5%

Net price=N= L (1-d1)(1-d2)(1-d3)

            = 500,000(1-0.20)(1-0.10)(1-0.05)

            = 342,000

Single discounted rate is given by

      Here we see      N=L(1-d)

                          =500000(1-31.6%)

                          =342000

So we can say that …..31.6% is a single discounted rate

Payment over 10^th of may= 500,000(1- 10%)

                          = 450,000