MIDTERM EXAMINATION
Fall 2009
MTH302- Business Mathematics & Statistics (Session - 2)
Time: 60 min
Marks: 42
Question No: 1 ( Marks: 1 ) - Please choose one
45% of what is 9?
► 20
► 40
► 30
► 10
Question No: 2 ( Marks: 1 ) - Please choose one
What will be the answer of the SUMIF formula?
► 1075
► 985
► 855
► 130
Question No: 3 ( Marks: 1 ) - Please choose one
After the merchant buys merchandise, it is sold at a higher price called the _______
► Sale price
► Revenue discount
► Selling price
► Cost price
Question No: 4 ( Marks: 1 ) - Please choose one
In the case of partial payments, the _______ is the partial payment plus the partial cash discount
► Amount received
► Amount returned
► Amount credited
► Amount displaced
Question No: 5 ( Marks: 1 ) - Please choose one
In a friendly cricket between India and Pakistan, Pakistan is scoring at a rate 7% more than India in 35 overs. If the India’s score after 35 overs was 230 what’s Pakistan score now?
► 250
► 235
► 246
► 240
Question No: 6 ( Marks: 1 ) - Please choose one
0.20% = ------------
►0.2
► 0.02
► 0.002
► 0.0002
Question No: 7 ( Marks: 1 ) - Please choose one
, then AB is --------------------------
►
►
►
►
Question No: 8 ( Marks: 1 ) - Please choose one
What will be the base of 25% rate and percentage is 65?
► 216
► 250
► 260
► None of these
Question No: 9 ( Marks: 1 ) - Please choose one
The formula for compound interest for n number of periods is
►S = P(1 + r/100)* n
►S = P(1 + n/100)^ r
►S = P(1 + r/100)^ n
►S = P(1 + r/100)/ n
Question No: 10 ( Marks: 1 ) - Please choose one
According to the local laws, the allowances are considered tax free if they are up to
► half of the basic salary
► one fourth of the basic salary
► one third of the basic salary
► 55% of the basic salary
Question No: 11 ( Marks: 1 ) - Please choose one
Amount of discount is obtained as
►Percentage of Discount x List Price
► Percentage of Discount / List Price
► Percentage of Discount - List Price
► None of these
Question No: 12 ( 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
► Stock yield
► Interest
Question No: 13 ( Marks: 1 ) - Please choose one
The value of x for the equation -(-x - 5) = x – 2 is ------------------
► no solutions
► -5
► 3
► 1 / 2
Question No: 14 ( Marks: 1 ) - Please choose one
What will be the simple interest earned on an amount of Rs. 16,800 in 9 months at the rate of % p.a?
►Rs. 787.50
►Rs. 812.50
►Rs 860
►Rs. 887.50
Question No: 15 ( Marks: 1 ) - Please choose one
This example returns the present value of an investment that pays Rs. 250 at the end of every month for 2 years. The money paid out will earn 7.5% annually.
►=PV (7.5%/12, 2*12, 250, 1)
►=PV (7.5%/12, 2*12, 250, 0)
►=PV (7.5%/12, 2, 250, 0)
►=PV (7.5%, 2*12, 250, 1)
Question No: 16 ( Marks: 1 ) - Please choose one
All formula in Excel start with
►+
►=
► -
►%
Question No: 17 ( Marks: 1 ) - Please choose one
A percentage is a way of expressing a number as
►a fraction of 100 .
►sum of number with 100.
►multiplication of number with 100.
►average of number with 100.
Question No: 18 ( Marks: 1 ) - Please choose one
Given : List Price =5500Rs , Discount = 850Rs, then Net Cost Price will be
►6350 Rs
6350 Rs
►5508 Rs
5508 Rs
►5585 Rs
►4650 Rs
Question No: 19 ( Marks: 1 ) - Please choose one
If C = Cost price, S = Selling Price then the margin on the cost is equal to
►
►
►
►
Question No: 20 ( Marks: 1 ) - Please choose one
In 2 years you are to receive $10,000. If the interest rate were to suddenly decrease, the present value of that future amount to you would
► Fall
► Rise
► remain unchanged
► The correct answer cannot be determined without more information
Question No: 21 ( Marks: 1 ) - Please choose one
The net price of a computer table is 2500 and list price 3000. The trade discount will be
► 13%
► 17%
► 21%
► 25%
Question No: 22 ( Marks: 1 ) - Please choose one
Store A marked down a $ 50 perfume to $ 40 with markdown of $10
The % Markdown is
► 10%
► 20%
► 30%
► 40%
Question No: 23 ( Marks: 1 ) - Please choose one
Given for a product selling price = $45 and unit variable cost= $30 then Unit contribution margin will be
► $15
► $75
► $1.5
► Can not be found from given values.
Question No: 24 ( Marks: 1 ) - Please choose one
3x2 + 5x – 7 is --------------- expression.
► Monomial
► Binomial
► Trinomial
► Linear
Question No: 25 ( Marks: 3 )
The mean of the numbers 10, 7, 9, 2 and x is 11; find the value of x.
Solution
total = 5*11 =55
total =10+7+9+2+x=55
28+x=55
x=55-28
x=27
Question No: 26 ( Marks: 5 )
The salary of an employee is as follows:
Basic salary = 50,000 Rs.
What is the amount of allowances if House Rent = 45 %, Conveyance allowance = 2.5 % and Utilities allowance = 2.5 %?
Solution
House Rent = 50000*45/100 =22500
Conveyance Allowance = 50000*2.5/100 = 1250
Utilities Allowance = 50000*2.5/100 = 1250
Question No: 27 ( Marks: 10 )
If the price of 16 dozen of eggs and 10 breads of large size is 332.The price of 10 dozen of eggs and 8 breads of large size is 225.Find the prices of per dozen eggs and per bread.
(Solve this question by using matrices only)
Solution
192X+10y=332
120x+8y=225
from 2
8y=225-120x
y=(225-120x)/8
put in 1
192x+10(225-120x)/8=332
192x+281.25-150x=332
(192-150)x=332-281.25
42x=50.75
x=1.21
y=(225-120*1.21)/8
y=10
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