BUSINESS CALCULATIONS (BBU1112) SEMESTER TEST 2 by monkey6

VIEWS: 11 PAGES: 7

More Info
									Surname:                       Student Number                                    Page 1 of 7



     BUSINESS CALCULATIONS (BBU1112) SEMESTER TEST 2
DATE: September 2005         MARKS: 70                    TIME: 90 minutes                         %


    Show all your calculations
    Do your Rough work on the Rough work page at the end of the paper
    Round off all your calculations correct to two (2) decimal places


1. Sipho borrows R200 from his girlfriend Pamela so that he can treat her to dinner. Because
   she likes him she charges only 5% simple interest. Sipho pays Pamela back 30 days later.
   How much does he pay back?                                                             [4]


   F = …………………….              P = 200……………          i =…5%………..         n = 30………………




   …F…… =P(1+ …………….. = …………………………….…………………………..
      Formula                  substitution




                = R ……………..
                answer




2. Mr John Bigsave decides to put R5 000 into a fixed deposit account that receives 12%
   simple interest. How long must he keep the money in the account if he wants to get R8400
   out?                                                                                   [4 1 ]
                                                                                             2


   F = …………………….              P = ……………         i =…………..        n = ………………


   ……… = …………….. = ……………………………………………………………
     Formula                   substitution




        n = ……………… years
                 answer
                                                                                          Page 2 of 7
3. Lucky wins R2 000 playing Lotto. He decides to put the money in an account that pays
   interest compounded monthly. He has R2100 after 6 months. What was the interest rate per
   annum?                                                                                         [5 1 ]
                                                                                                     2


   F = …………………….              P = ……………                 i =…………..        n = ………………




   ……… = …………….. = ……………………………. …………………………..
      Formula                   substitution




       = …………….. = ………………………% per month = ………………% per annum.
            answer                   answer                                final answer




4. Cool Dude wants to double the money he won at a surfing competition, so that he can buy
   a new surfboard. How long will it take him to double his winnings if he receives 7.5%
   interest compounded quarterly?                                                           [5]
   F = …………………….              P = ……………                 i =…………..        n = ………………


   ……… = …………….. = ……………………………. …………………………..
         Formula                    substitution




       = …………….. quarters = ……………………years
                answer                 final   answer


5. Mitch the lifesaver makes monthly deposits of R300 into a special “Hawaii Holiday”
   account. The account earns an interest rate of 9.75% compounded every second month.
   How long will it take for him to save R8000 he needs for the plane ticket to Hawaii?             [5]
   F = …………………….              P = ……………                 i =…………..        n = ………………


   n = …………….. = ……………………………. …………………………………
           Formula                    substitution




       = …………….. two month periods                   = ……………………years
           answer                                       final   answer
                                                                                  Page 3 of 7
6. Ms Radue borrows money from the bank to buy a house. The interest rate of 9.2% is
   compounded monthly. She decides to pay back the loan within 15 years. If her monthly
   payment is R2 500, what will she have paid for the house after 15 years.        [4 1 ]
                                                                                      2




F = ………… P = …………… R = ………….. i =…………..                            n = ………………




    F or P         = …………….. = ………………………….…………………………………
    select one        Formula                substitution




        = R ……………..

                   answer
7. Mrs Olde retires at age 65 with R1 200 000 in her retirement fund. The fund will pay her
   an income every second month in advance. The fund earns 8% p.a. compounded every two
   (2) months. She receives her first income cheque at the beginning of the month. If she
   wants the money to last for 25 years, how much can she withdraw from the fund every
   second month? [4 1 ]
                    2




F = …………………….                   P = ……………    i =…………..        n = ………………




    F or P         = …………….. = ………………………….…………………………………
      select one      Formula                 substitution




        R = R ……………..
                       answer
                                                                                  Page 4 of 7




8. Mr Gold has invested R 5000 in platinum stocks every 3 months for the last 10 years. The
   stocks earn an interest rate of 12.5% p.a. compounded quarterly. What is the present value
   of the stocks?                                                                           [4 1 ]
                                                                                               2


F = …………………….                   P = ……………    i =…………..        n = ………………




    F or P        = …………….. = ……………………………………………………………
     select one       Formula                               substitution




         = R ……………..
                    answer




9. Jake borrowed R12 000 from Loan Sharks Ltd. The interest rate per annum charged is 32%
   compounded weekly. What are his weekly repayments for the next 6 months. ( There are
   52 weeks in a year)                                                             [4 1 ]
                                                                                      2




F = …………………….                   P = ……………    i =…………..        n = ………………




    F or P        = …………….. = …………………………….………………………………
     select one     Formula                  substitution




        R = R …………….. per week
                    answer
                                                                                         Page 5 of 7




10. Lassie Ritch inherits R5 000 000 from her long-lost uncle. She decides to buy a house for
      R2 500 000 and invests the rest of her money I an account that pays 15% p.a. compounded
      semi-annually. She will receive the first of 20 equal semi-annual payments in 5 years time,
      when she retires. Calculate the size of the payments.

F = …………………….                           P = ……………       i =…………..          n = ………………




       F or P          = …………….. = …………………………. …………………………………
       select one                 Formula                 substitution




           R = R ……………..
                               answer




11.
      11.1.          Complete the frequency distribution table below
           [10]
 Class          Test Score Class Mark Frequency                 Relative    Cumulative    Relative
                                         ( fi )                  f i (%)        fi       cumulative
                                                                                             fi
      1              [0,20)                         1               3.03        1
      2             [20,40)                         4
      3             [40,60)                 50   17
      4             [60,80)                         8
      5             [80,100)                        3
                                        Total
                                                   Page 6 of 7




11.2.   Construct a frequency histogram                     [6]
                           FREQUENCY HISTOGRAM




11.3.   Construct a frequency polygon                       [6]
                               Frequency Polygon
                                                                            Page 7 of 7




11.4.   How many people in the class scored more than 80%? ________________ [1]
11.5.   What percentage of the class has a test score of less than 40%. ________     [1]

								
To top