MTH 302 Solved MidTerm Spring 2010

MIDTERM  EXAMINATION

Spring 2010

MTH302- Business Mathematics & Statistics

Ref No: 1306049

Time: 60 min

Marks: 40

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

If a profit ratio of A and B is 2 to 3, then A’s share in profit will be

       ► 2/5

       ► 2/3

       ► 3/2

       ► 3/5

Question No: 2      ( 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

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

Monthly installments of a leased car are calculated by using the techniques of:

       ► Simple interest method

       ► Compound interest method

       ► Annuity

       ► Hit & trial method

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

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

       ► Monomial

       ► Binomial

       ► Trinomial

       ► Linear 

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

Witch of the following percent is Conveyance Allowance of the basic salary?

       ► 2.5%

       ► 45%

       ► 5%

       ► None of these

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

0^1=?

       ► 0

       ► 1

       ► undefined

       ► infinity

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

If an asset is purchased at Rs 3000 on the date 6/29/2008 and the first depreication period ends on 11/29/2008, where salvage value is 300 and period is taken as 1 on  20% interest rate where basis =1, then which of the following function Returns the depreciation for given accounting period

       ► =AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1*12, 20%, 1)

       ► =AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1, 20% / 12 , 1)

       ► =AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1, 20%, 1)

       ► =AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1*12 , 20%/12, 1)

       ► None of these

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

To add numbers based on one condition we use

       ► DSUM function.

       ► AVERAGE function.

       ► SUMIF function .         

       ► all functions given in above choices .

Question No: 9      ( 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: 10      ( Marks: 1 ) - Please choose one

Linear equation:  has the solution only if

       ►

       ►

       ►

       ►

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

Which of the following is the correct formula for calculating the contribution margin

       ► S-VC

       ► VC-S

       ► S-FC

       ► FC-S

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

If C is the cost and S is the selling price of a certain item then the formula for its markup is given by

       ► (S-C)/S *100%

       ► (S-C)/C *100%

       ► (C-S)/S *100%

       ► (C-S)/C *100%

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

If A= [a b c] is a matrix then in order to find AB, the number of columns B must have are

       ► 3

       ► 1

       ► 2

       ► any non zero number

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

 percentage of ratio of given number with standard numbe is.......

       ► 100

       ► Same number

       ► 1000

       ► 10

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

Negative sign with net income means

       ► Net profit is zero

       ► Net Loss

       ► Net income is not sufficient

       ► Negative sign cannot come with net income

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

If 5x =7t, then the ratio x: t = …..

       ► 5:7

       ► 7:5

       ► 15:7

       ► 5:17

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

What shall be contribution margin if sale price is Rs.50 and variable cost is

Rs.30?

       ►        Rs.80

       ► Rs.20

       ► Rs.30             

       ► none of these

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

For multiplication of two matrices A and B

       ► The no. of rows of A must be equal to columns of B

       ► The no. of rows of B must be equal to no. columns of A

       ► The no. of columns of A must be equal to no. rows of B

       ► None of these

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

 If the price of a shirt is Rs 250 and discount on its price is Rs 30, what is the percentage of discount?

       ► 10 %

       ► 11%

       ► 12%

       ► 15%

Question No: 21      ( Marks: 2 )

If A is a matrix of order 3x3,

A =

then find its determinant?

Question No: 22      ( Marks: 2 )

After marketing analysis, calculate the break even point in rupees provided that

 Fixed Cost = Rs.500, Contribution Margin = Rs.250 & expected sale rate is 1000 per item.

Question No: 23      ( Marks: 3 )

An item is marked down 15%; the sale price is Rs. 127.46. What was the original price?

Question No: 24      ( Marks: 3 )

Cost analysis provides the following information:

Fixed Costs (FC) per period = Rs. 20000

Variable Costs (VC) = Rs. 30 per unit.

Selling price per unit = S = 50 Rs

Production Capacity per period = 800 units

Contribution Margin per unit =Rs 20

. Calculate BEP in Rs .

Question No: 25      ( Marks: 5 )

The product that regularly sells for $650 is marked down to $500. What is the rate of markdown?

Question No: 26      ( Marks: 5 )

Evaluate the sum of the years digits depreciation of an asset having the cost of Rs.10,000  for a period of 5 years such that salvage value after 7 years is Rs.5000.