MIDTERM EXAMINATION
Spring 2010
MTH302- Business Mathematics & Statistics
Ref No: 1504952
Time: 60 min
Marks: 40
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| Q No. | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Total |
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| Q No. | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | |
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| Q No. | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | |
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| Q No. | 25 | 26 | | | | | | | |
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Question No: 1 ( Marks: 1 ) - Please choose one
Sale price is the selling price less the ________
► Markdown
► Revenue
► Cost
► Profit
Question No: 2 ( Marks: 1 ) - Please choose one
A reduction of the amount due on an invoice is called a _______ .
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► Trade discount
► Net discount
► Cash discount
► Unearned discount
Question No: 3 ( Marks: 1 ) - Please choose one
Find A in the formula A = LW if L = 4 and W = 2.5.
► 6.5
► 2.9
► 10
► 1.0
Question No: 4 ( Marks: 1 ) - Please choose one
Let’s assume that you are receiving 1000 Rs. every year, and you invested each payment at 5%. The amount you would have at the end of five years period is referred as
► Final Value
► Cumulative interest
► Accumulated value
► Principal value
Question No: 5 ( Marks: 1 ) - Please choose one
Ali has bought his new motorcycle on installments. He will pay Rs. 2000 for 30 months. If the bike currently cost Rs. 54000 what percent of current cost he will pay more after 30 months. http://vustudents.ning.com
► 6%
► 15%
► 11.2%
► 10%
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
If 25 is decreased to 12,then percentage decrease will be
► 50
► 51
► 52
► None of these
Question No: 8 ( Marks: 1 ) - Please choose one
Contribution Margin is the Rs. amount that is equal to ----------------------
► S – VC
► VC – S
► FC – VC
► VC – FC
Question No: 9 ( Marks: 1 ) - Please choose one
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This example returns the depreciation for an asset that costs Rs. 10,000, with a salvage value of $8,000. The useful life of the asset is 5 years. The depreciation is being calculated for the third year, and there are 10 months in the first year.
► =DB (10000, 5, 8000, 3, 10)
► =DB (10000, 8000, 5, 10, 3)
► =DB (10000, 8000, 5, 3, 10)
► =DB (10000, 8000, 10, 3, 5)
Question No: 10 ( Marks: 1 ) - Please choose one
Weighted average is one type of http://vustudents.ning.com
► arithmetic mean .
► DSUM function
► SUMIF function
► all given above choices.
Question No: 11 ( Marks: 1 ) - Please choose one
To find average of numbers given in figure ,one can apply the excel formula
► =AVERAGE(E12:E13)
► =AVERAGE(E5:E12)
► =SUMIF(E5:E12)
► =DSUM(E5:E12)
Question No: 12 ( Marks: 1 ) - Please choose one
SLN returns the straight-line depreciation of an asset for http://vustudents.ning.com
► Zero period
► One period
► Two periods
► Three periods
Question No: 13 ( Marks: 1 ) - Please choose one
If matrix A is given in excel as follows
Then which is the correct formula to find the inverse of A
► =MINVERSE(B4:E7)
► =MINVERSE(B4;E7)
► =MINVERSE(B2;E7)
► =MINVERSE(B2,E7)
Question No: 14 ( Marks: 1 ) - Please choose one
You purchase equipment for $42,000, minus trade discount of 30% ,20% ,15%. Trade discount will be
► $19,992
► $22,008
► $23,520
► $29,400
Question No: 15 ( Marks: 1 ) - Please choose one
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Given Old Sale price = $1.95 , Markdown rate =13.6% ,then $Mark down will be
► $ 0.27
► $ 0.72
► $ 0.66
► $ 0.92
Question No: 16 ( Marks: 1 ) - Please choose one
Which function calculates depreciation at the same amount each year over an asset’s useful life?
► DB
► SLN
► DDB
► All of above
Question No: 17 ( Marks: 1 ) - Please choose one
which of the following is linear equation
► 2x-3y=-6
► x+x+x
► 520x²y²
► y^2 -3=0
Question No: 18 ( Marks: 1 ) - Please choose one
…………..are periods for the buyers to pay invoices within specified times. http://vustudents.ning.com
► discount periods
► credit periods
► initial period
► none of these
Question No: 19 ( Marks: 1 ) - Please choose one
If you want to multiply a number 7 to matrix 
then the result is
then the result is ► 
► 
► 
► Number cannot be multiply to matrix
Question No: 20 ( Marks: 1 ) - Please choose one
If the price of a shirt is Rs 250 and discount on its price is Rs 30, what is the percentage of discount?
► 10 %
► 11%
► 12%
► 15%
Question No: 21 ( Marks: 2 )
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Find the unknown ‘x’ in x: 8 = 99: 44
x/8 =99/44
x * 44 = 99*8
x44=792
x=792/44
18
Question No: 22 ( Marks: 2 )
What is Salvage?
Retail store chains need an outlet for their merchandise that they can't sell in their store- so instead of trying to sell it retail, some sell it out to wholesale dealers as salvage. Salvage merchandise is merchandise that has been exchanged, returned, or shelf-pulled for any reason. It is sold "as is" and loads could consist of:
New Merchandise
Clearanced Merchandise
Returned Merchandise
Shelf Pull Merchandise
Question No: 23 ( Marks: 3 )
On a poster, a calculator that is actually 7 cm wide is shown as 0.5 m
wide. If the calculator is actually 15.4 cm long, how long is it on the poster?
Question No: 24 ( Marks: 3 )
The equations 5x + 2y = 48 and 3x + 2y = 32 represent the money collected from school concert tickets sales during two class periods. If x represents the cost for each adult ticket and y represents the cost for each student ticket, what is the cost for each adult ticket?
5x+2y=48
3x+2y=32
.
Multiply both sides of the second equation by -1
5x+2y = 48
-3x-2y =-32
.
adding two equations together:
5x+2y = 48
-3x-2y =-32
--------------
2x = 16
dividing both sides by 2
x = $8 (adult ticket cost)
Question No: 25 ( Marks: 5 )
A retailer used a markup rate of 18% on cost. Find the selling price of an item that costs the retailer $60.
Selling price = cost price + %markup on cast
= 60 + 60(18/100)
= 60 +10.8
Selling price =70.8
Question No: 26 ( Marks: 5 )
Find
a) The fourth proportional to 4 , 9 , 12;
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/9 = 12/x
or x = (12 * 9)/4
x = 108/4
x = 27
b) The t proportional to 16 and 36.
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