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MTH302 Business Mathematics & Statistics Assignment No 01 Fall 2019 Solution & Discussion

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MTH302 Business Mathematics and Statistics Assignment 1 Solution Fall 2019


Assignment # 1                        MTH302 (Fall 2019)
Total Marks: 20      Due Date: November 20, 2019.

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Q1:  Payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. Calculate the Present Value.

 

Q2 : Suppose Mr. Arslan’s basic salary is Rs 12000. Calculate the allowances (House rent, utility bills, conveyance allowance). Also, find the provident fund and gratuity.

MTH302 Solution 

Q1:  Payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. Calculate the Present Value.

Present value formula:

P.V = fv/ (1+i) ^n                                                                                  

FV = $670

Period = n = 5 years è             as interest compounded monthly so, n = 5 x 12 = 60 months

Interest rate = i = 8% è           to calculate interest rate per period 8%/12 = 0.0066

P.V = 670/ (1+0.0066)60

P.V = $451.71 on monthly compounded basis.

Q2: Suppose, Mr. Arsalan’s basic salary is 12,000/-. Calculate the allowances (House rent, Utility bills, Conveyance allowance). Also, find the provident fund and gratuity?

Basic Salary = 12,000/-

First, we need to calculate each allowance amount.

  1. House Rent: As v know house rent is 45% of basic salary so,

12,000 x 45% = 5400/-

  1. Utility Bills: As v know Utility is 2.5% of basic salary so,

12,000 x 2.5% = 300/-

  1. Conveyance allowance: As v know conveyance is 2.5% of basic salary so,

12,000 x 2.5% = 300/-

Now total allowance = house rent + Utility Bills + Conveyance allowance

                                     = 5400 + 300 +300

TOTAL ALLOWANCE = 6000/-

Now finding Provident fund amount and gratuity,

  1. Provident Fund: V all know Provident fund is 1/11th of basic salary so in this scenario,

Provident fund = 1/11 x 12,000

                             = 1091/- but v also know that same amount of Provident fund also contributed by the company so, 1091+1091 = 2181/-

Provident fund = 2181/-

  1. Gratuity Fund: It’s also 1/11th of basic salary so,

Gratuity fund = 1/11x 12,000

Gratuity fund = 1091/-

 

 

MTH 302 Assignment no 1 solution fall 2019

MTH302 Assignment 1 Complete Solution with Full Explanations. Link Given Below

MTH302 Assignment 1 Solution Fall 2019

MTH302 Assignment#01 Solution Fall 2019

Link below

MTH302_Assignmnet_1_Solution_Fall_2019_vustudents.ning.com

Q2 : Suppose Mr. Arslan’s basic salary is Rs 12000. Calculate the allowances (House rent, utility bills, conveyance allowance). Also, find the provident fund and gratuity.

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MTH302 Assignment#01 Solution Fall 2019

GDrive Link

If an employee deposits Rs. 2,000 at the end of each year into his company’s plan which pays 7% interest compounded quarterly, how much will he have in the account at the end of 5 years?

Answer :
Employee will earn 8400 at the end of 5 years.
Waiting comments relating to question …!

MTH302 Assignment No.1 Solution Fall 2019

Q1:  Payments of $ 670 are being made at the end of each month for 5 years at an interest of 8% compounded monthly. Calculate the Present Value.

Present value formula:

P.V = fv/ (1+i) ^n                                                                                 

FV = $670

Period = n = 5 years è             as interest compounded monthly so, n = 5 x 12 = 60 months

Interest rate = i = 8% è           to calculate interest rate per period 8%/12 = 0.0066

P.V = 670/ (1+0.0066)60

P.V = $451.71 on monthly compounded basis.

Q2: Suppose, Mr. Arsalan’s basic salary is 12,000/-. Calculate the allowances (House rent, Utility bills, Conveyance allowance). Also, find the provident fund and gratuity?

Basic Salary = 12,000/-

First, we need to calculate each allowance amount.

House Rent: As v know house rent is 45% of basic salary so,

12,000 x 45% = 5400/-

Utility Bills: As v know Utility is 2.5% of basic salary so,

12,000 x 2.5% = 300/-

Conveyance allowance: As v know conveyance is 2.5% of basic salary so,

12,000 x 2.5% = 300/-

Now total allowance = house rent + Utility Bills + Conveyance allowance

                                     = 5400 + 300 +300

TOTAL ALLOWANCE = 6000/-

Now finding Provident fund amount and gratuity,

Provident Fund: V all know Provident fund is 1/11th of basic salary so in this scenario,

Provident fund = 1/11 x 12,000

                             = 1091/- but v also know that same amount of Provident fund also contributed by the company so, 1091+1091 = 2181/-

Provident fund = 2181/-

Gratuity Fund: It’s also 1/11th of basic salary so,

Gratuity fund = 1/11x 12,000

Gratuity fund = 1091/-

MTH302 Solution 

link below

MTH302 Assignment No.1 Solution Fall 2019

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