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# MTH302 Assignment No. 2 Solution and Discussion Spring 2015 Due Date: June 01, 2015

MTH302 Assignment No. 2 Solution and Discussion Spring 2015 Due Date: June 01, 2015

Assignment #  2

MTH302 (Spring 2015)

Total marks: 10

Lecture # 1 to 9

Due Date: June 01, 2015

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Section A

Question 1:

If the Basic salary of an employee is Rs. 22000.

(a)  What is the total saving per month of the employee on account of Provident Trust Fund?

(b)  What is the amount of allowances if House Rent = 45 %,

Conveyance allowance = 2.5 % and Utilities allowance = 2.5 %?

Question 2:

Mr. Ahmed used part of an insurance settlement to purchase an ordinary annuity that would pay him Rs. 5,500 each six months for 10 years. How much did the annuity cost if the interest rate is 10% compounded semiannually? (discounted value)

Question 3:

Suppose you opened an account in a bank on January 1, 2003, with a deposit of Rs. 50,000 then you added Rs.12000 same day. What will be your account amount on July 1, 2005, if the plan earns a fixed rate of interest 11% per annum, compounded semi-annually?

Question 4:

Payments of Rs. 9,000 were made at the end of each quarter into an account that pays an interest of 13% compounded quarterly. How much will be in that account after seven years?

Section B

Question 1:

Suppose you are managing an account in which you deposit Rs. 30,000 at the end of each yearfor 20 years. How much amount you have accumulated with the assumption that you earn 6% interest compounded annually.

Question 2:

Calculate the present value of an annuity of Rs.30,000 paid at the end of each month of 3 years. The annual interest rate is 12%.

Question 3:

The salary of an employee is as follows:

Basic salary = 20,000 Rs.

Allowances =   8,000 Rs.

What is the cost of the company on account of leaves (18.2%), group insurance/medical (5%) and other social benefits (5.8%)?

Question 4:

The salary package of a permanent employee includes:

Basic salary  = Rs. 40,000

House rent   =  45 %

Conveyance allowance = 2.5 %

Medical insurance = 5 %

Social charges = 5 %

If provident fund will not be given to him then find the gross remuneration.

Section C

Question 1:

If house rent (45% of basic salary) of an employee is Rs.81, 00 then calculate the followings

• Amount of basic salary
• Total amount of allowances given to the employee, if conveyance allowance is 2.5% and utility allowance is 3.5% of basic salary.

Question 2:

An investment has been made for a period of 4 years. Rates of return for each year are 7%, 8%, - 9% and 5% respectively. If you invested Rs. 150,000 at the beginning of the term, how much will you have at the end of the last year?

Question 3:

If you invested Rs.80,000 at the rate of 11% per annum for 8 years. Calculate simple as well as compound interest of the amount.

Question 4:

If you deposit Rs.20,000 at the end of each month into an account with earning rate 5%, how much will you have after 10 years?

Section D

Question 1:

If basic Salary of an employee is Rs. 20,000 per month, then calculate the amount of

1. Utilities Allowance (12%)
2. House rent (35 %)
3. Miscelleneous Social charges (6%)
4. Medical/Group insurance (7.5%)

Clearly stating calculation of which is based on gross salary and which are based on basic salary.

Question 2:

Sales of an outlet on Saturday were 25,000, which grew up 35,000 on Sunday. Calculate the percentage change. Also, write down the steps performed on excel.

Question 3:

Ali started working in an organization with an earning of 15,000 rupees per month. His organization signed a three year collective agreement that provided for wage increases of 3.5%, 5.5% and 7.5% in successive years. What should be his earning per month at the end of the term of contract.

Question 4:

Payments of Rs. 8,500 were made at the end of each quarter into an account that pays an interest of 11% compounded quarterly. How much will be in that account after five years?

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### Replies to This Discussion

pls share section D.thanks

Aoa. dear kamran ap ka MbA exe ka kon sa semester hai.. plz reply positively

Imran bro 1st Semester hai abhi to

dear kamran mera be ist semister hai challo ap s gup shup rahe ge..

c  h kr dain

Dear Students Don’t wait for solution post your problems here and discuss ... after discussion a perfect solution will come in a result. So, Start it now, replies here give your comments according to your knowledge and understandings....

Can someone here post the Assignment format in the doc format? Kind of confusion is prevailing regarding the format. Thanks

can anybody tell that we have to solved only just section B of 2nd assignment???

Section B

Question 1:

Suppose you are managing an account in which you deposit Rs. 30,000 at the end of each year for 20 years. How much amount you have accumulated with the assumption that you earn 6% interest compounded annually.

Sol…

P = 30,000

R = 6%

T = 20

S = P(1+r/100)̂ n

S = 30,000(1+6/100)̂ 20

S = 30,000 (1.06)̂ 20

S = 30,000(3.20)

S = Rs.96,000

Compounded Interest = S-P

= 96,000 – 30,000

Compounded Interest= Rs. 66,000

Question 2:

Calculate the present value of an annuity of Rs.30,000 paid at the end of each month of 3 years. The annual interest rate is 12%.

Question 3:

The salary of an employee is as follows:
Basic salary = 20,000 Rs.
Allowances = 8,000 Rs.
What is the cost of the company on account of leaves (18.2%), group insurance/medical (5%) and other social benefits (5.8%)?

Sol….

Basic salary = Rs.20,000

Allowances = Rs.8,000

Gross salary = Rs. 28,000

Medical = 5% = Rs. 1400

S.C = 5.8 % = Rs. 1624

Leaves = 18.2 % = Rs. 5096

Total Salary = Rs. 31,024

Question 4:

The salary package of a permanent employee includes:
Basic salary = Rs. 40,000
House rent = 45 %
Conveyance allowance = 2.5 %
Medical insurance = 5 %
Social charges = 5 %
If provident fund will not be given to him then find the gross remuneration.

Sol…

Basic salary = Rs.40,000

House rent = 45%*40,000 = 18,000

CA = 2.5%*40,000 = 1,000

Total salary = Rs. 59,000

Medical Allowance = 5%*59,000 = 2950

Social Charges = 5%*59,000 = 2950

Gross remuneration = Rs.64,900

compound interest main isy kesy solve kia ap ne? (1.06)̂ 20=(3.20)?

Any one that have section D.please Share.thanks

any else

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