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Assignment No-1 (NON-GRADED) of MTH302 Due date 26 May 2014

Question 1: If basic Salary of an employee is Rs. 10,000 per month then calculate the amount of

1. House rent (45 % )
2. Utilities Allowance ( 10%)
3. Medical/Group insurance (5%)
4. Social charges ( 9%)

You also have to decide that which of these allowances/benefits are on basic salary and which are on gross salary (based on handouts/lectures). Percentage amount is mentioned against each allowances/benefits.

Question 2: The price of an item decreased from Rs. 760 to Rs. 700. What is the percentage change in the price of item?

Question 3: Suppose you take loan from a bank of amount Rs. 85000 at 6% interest compounded bi-annually/semiannually for three years. Find the compound interest.

Also solve the same question when

1.  Compounded annually.
2. Compounded monthly

Question 4: Calculate the accumulated value if you deposit Rs. 8000 at the end of each year for the next 10 years?  Assume an interest of 5% compounded annually.

Question 5: If you have two cars and in one car you fill up 15 liters of gasoline and in second car you fill up 5 liter of petrol. You pay Rs. 1510 for both filling. The price of gasoline (per liter) is Rs. 42 less that the price of petrol. Find the price per liter of gas and petrol.

Hint: Use matrices to solve the question.

Question 6: Why the inverse of following matrix is not possible

Question 7: Find the inverse of following matrix using MS Excel

Question 8: Find amount of markup and selling price on an item that costs Rs. 3600 if there is a 20% markup on cost.

Question 9: An item sells for 1200. If the markup on the cost is 18%, find the cost and the amount of the markup on sale.

Question 10: An item that cost for Rs. 1300 was marked up 18 % of the selling price.  After some time the item is markdown 20 %.  Calculate the sale price after markdown.

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Replies to This Discussion

non graded or Q itne sare ????????????????????????

wese Q 1 me just % le ge kia ????????????

plz tell me....

Question 1:

If basic Salary of an employee is Rs. 10,000 per month then calculate the amount of

1. House rent (45 % )
2. Utilities Allowance ( 10%)
3. Medical/Group insurance (5%)
4. Social charges ( 9%)

You also have to decide that which of these allowances/benefits are on basic salary and which are on gross salary (based on handouts/lectures). Percentage amount is mentioned against each allowances/benefits.

• Basic salary  = Rs. 10,000
• Allowances
• House rent (45 % )
• Utilities Allowance ( 10%)
• Medical/Group insurance (5%)
• Social charges ( 9%)
• House rent                               = (0.45) x 10,000 = Rs. 4,500
• Utilities Allowance                 = (0.10) x 10,000 = Rs. 1,000
• Gross Pay                                = Basic Pay + Allowances

= 10,000 + 4,500 + 1,000

= Rs. 15,500

• Medical/Group insurance        = (0.05) x 15,500 = Rs. 775
• Other Social Charges              = (0.09) x 15,500 = Rs. 1,395
• House rent and utilities allowances are calculated on the basis of basic salary (Rs. 10,000) whereas Medical/group insurance and social charges are calculated on the basis of gross salary (10,000+4,500+1,000 = 15,500).

Question 2:

The price of an item decreased from Rs. 760 to Rs. 700. What is the percentage change in the price of item?

• Original price              =          Rs. 760
• Final price                   =          Rs. 700

Change            =          Final value – Initial Value

=          700 – 760

=          - 60

% Change        =          (Change / Initial value) x 100%

=          (-60 / 760) x 100%

=          (- 0.079) x 100%

=          - 7.9%

Question 3:

Suppose you take loan from a bank of amount Rs. 85000 at 6% interest compounded bi-annually/semiannually for three years. Find the compound interest.

Also solve the same question when

1.  Compounded annually.
2. Compounded monthly
• Loan from bank(P)                              =          Rs. 85,000
• Interest rate(r)                                     =          6% (0.06)
• Period(Bi-annually for 3 years)(n)      =          3 x 2 = 6
• Compound amount (S)           =          P(1 + r / 100)^n

=          85,000 (1 + 6/100)^6

=          85,000 (1 + 0.06)^6

=          85,000 (1.06)^6

=          85,000 (1.4185)

S          =          Rs. 120,572.5

• Compound Interest                 =          S – P

=          120,572.5- 85,000

=          Rs. 35,572.5

•  Compounded Annually         =          P(1 + r / 100)^n

=          85,000 (1 + 12 / 100)^3

=          85,000 (1 + 0.12)^3

=          85,000 (1.12)^3

=          85,000 (1.4049)

=          Rs. 119,416.5

Compound Interest                 =          S – P

=          119,416.5 - 85,000

=          Rs. 34,416.5

• Compounded Monthly           =          P(1 + r / 100)^n

=          85,000 (1 + 1 / 100)^36

=          85,000 (1 + 0.01)^36

=          85,000 (1.01)^36

=          85,000 (1.4308)

=          Rs. 121,618

Compound Interest                 =          S – P

=          121,618 - 85,000

=          Rs 36,618

I think now it is okay. Thanks for pinpointing the mistake. God bless u.

compounded annually k solution mai (1.12)^3 = 1.404928 jb k apne complete value nhi likhi ... is se mere ans thora change a raha hai .. is that ok or not ?

ok :)

Question 4:

Calculate the accumulated value if you deposit Rs. 8000 at the end of each year for the next 10 years?  Assume an interest of 5% compounded annually.

• Payment per period (C)                       =          Rs. 8,000
• Interest rate (i)                                                =          5%
• Number of payments                          =          10

FV Ordinary Annuity                                    =          C * [(1+i)n – 1/i]

=          8,000 * [(1+0.05)10 – 1/0.05]

=          8,000 * [(1.05)10 – 1/0.05]

=          8,000 * [1.6289 – 1/0.05]

=          8,000 * [0.6289 / 0.05]

=          8,000 * 12.578

=         100,624

Annuity
It some point in your life you may have had to make a series of fixed payments over a period of time - such as rent or car payments - or have received a series of payments over a period of time, such as bond coupons. These are called annuities. Annuities are essentially series of fixed payments required from you or paid to you at a specified frequency over the course of a fixed period of time. An annuity is a type of investment that can provide a steady stream of income over a long period of time. For this reason, annuities are typically used to build retirement income, although they can also be a tool to save for a child’s education, create a trust fund, or provide for a surviving spouse or heirs.
The most common payment frequencies are yearly (once a year), semi-annually (twice a year), quarterly (four times a year) and monthly (once a month).

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