Assignment # 1
MTH302 (Fall 2010)
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If the basic salary of an employee is Rs. 37000 and allowances are Rs. 22,000.
What is the taxable income of employee?
If the salary and allowances of an employee is as follows:
Basic salary = Rs. 12,000
House Rent Allowance = 45%
Conveyance Allowance = 5%
Utilities Allowance = 7%
Group Insurance/Medical = 0%
Misc. Social Charges = 5.8%
There are 12 casual, 24 earned and no sick leaves per year where as normal working days per month are 26. Find the Gross remuneration of the employee.
A trade discount series of 20, 10, and 5 is offered on an item which has a list price of Rs. 9100. Find the amount of discount and the net price.
If your goal is to have an amount of 325000 in seven years and you can get interest rate of 9% per annum compounded annually. How much would you need to invest now?
If you start saving Rs. 28,000 at the end of each six month, and you get interest rate 11% (per annum) compounded semi-annually, how much will you have accumulated at the end of 20 years?
The price of an item decreased from Rs. 856 to Rs.752. What is the percentage change in price of item?
Question # 7
Suppose you can afford to pay 9,000 per month on a loan. How much can you borrow if the loan is for a period of 15 years and the interest rate is 5%
per annum compounded monthly?
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