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MIDTERM EXAMINATION Spring 2010 MTH302- Business Mathematics & Statistics Time: 60 min Marks: 40 Question No: 1 ( 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? ► Provident Fund ► Gratuity Fund ► Charity Fund ► None of the above Question No: 2 ( Marks: 1 ) - Please choose one In the above diagram, SUMIF adds the values of ► Column A ► Column B ► Column C ► None of the above. Question No: 3 ( Marks: 1 ) - Please choose one If you invest some amount at an interest rate of 8%, then at the end of 9 years. What will be the value of Accumulation Factor? ► 12.736 ► 12.487 ► 12.965 ► 12.856 Question No: 4 ( Marks: 1 ) - Please choose one One kg apples cost Rs. 12. They are sold at the markup of %. The selling price is ------- ----- ► 13.50 ► 12.50 ► 11.50 ► 14.50 Question No: 5 ( Marks: 1 ) - Please choose one If the basic salary of an employee is 17000 what is the amount of allowances he is getting for his house rent? ► 4550 ► 2600 ► 7650 ► 5000 Question No: 6 ( Marks: 1 ) - Please choose one Total Provident Fund added to the employee’s fund is ----------------- of the basic salary. ► 1 / 11 th ► 2 / 11 th ► 9.09 % Question No: 7 ( Marks: 1 ) - Please choose one The Basic salary of an employee is Rs 7,000 and the allowances are Rs 3000. Then the social charges will be ------------------------------------. ► Rs 2030 ► Rs 2900 ► Rs 2500 ► Rs 2150 Question No: 8 ( Marks: 1 ) - Please choose one The sequence of payments at equal interval of time is called ► Annuity ► Accumulated value ► Discounted value ► None of these Question No: 9 ( 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: 10 ( Marks: 1 ) - Please choose one A common business phrase for a cash discount is 3/10, meaning that a 3% discount is offered if the amount due is paid within ------ days ► 15 ► 10 ►3 ► 12 Question No: 11 ( Marks: 1 ) - Please choose one Contribution Margin is the Rs. amount that is equal to ---------------------- ► S – VC ► VC – S ► FC – VC ► VC – FC Question No: 12 ( Marks: 1 ) - Please choose one This example returns the depreciation for an asset that costs Rs. 10,000, with a salvage value of $6,000. The useful life of the asset is 4 years. The depreciation is being calculated for the first year, and there are 12 months in the first year. ► =DB (10000, 6000, 4, 1, 12) ► =DB (10000, 6000, 4, 12, 1) ► =DB (6000, 10000, 4, 12, 1) ► =DB (10000, 6000, 4, 1, 1) Question No: 13 ( Marks: 1 ) - Please choose one If C = Cost price, S = Selling Price then the margin on the cost is equal to ► ► ► ► Question No: 14 ( Marks: 1 ) - Please choose one Solution of linear equations: ► Always exists ► Is unique ► In number of ways ► Never exists Question No: 15 ( Marks: 1 ) - Please choose one Store A marked down a $ 50 perfume to $ 40 with markdown of $10 The % Markdown is ► 10% ► 20% ► 30% Question No: 16 ( Marks: 1 ) - Please choose one Which function calculates depreciation at the same amount each year over an asset’s useful life? ► DB ► SLN ► DDB ► All of above Question No: 17 ( Marks: 1 ) - Please choose one 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 . Contribution Margin will be ► 20 Rs ► 80 Rs ► 16 Rs ► 26 Rs Question No: 18 ( Marks: 1 ) - Please choose one If order for a sports item has a net price (N) of Rs.2000 after a 20% trade discount (d). Then formula for list price……………… ► L = N / (1 – d) ► L = (1 – d)/N ► L = (1 + d)/N ► L =N/ (1 + d) Question No: 19 ( Marks: 1 ) - Please choose one If net price of an item is subtracted from list price , then it is known……… ► Single equivalent discount rate ► RS Discount ► Trade discount ► none of these Question No: 20 ( 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: 21 ( Marks: 2 ) A calculator that was bought for Rs 88 and marked up 25% of the sale price. What is original sale price? Question No: 22 ( Marks: 2 ) What is Margin? Question No: 23 ( Marks: 3 ) An item is marked down 18%; the sale price is Rs. 135. What was the original price? Question No: 24 ( Marks: 3 ) An item costs 70Rs, and is sold for 100Rs. What are the margin and markup? Question No: 25 ( Marks: 5 ) If fixed cost is Rs. 2500, variable cost is Rs.155, sale is Rs.205, and total numbers of units sold are 105 then find the number of units sold above break even point (BEP). Question No: 26 ( Marks: 5 ) If a product is sold in the market at the rate of 40% discount. What is marked price of item if you buy it for Rs.30

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