Mth302 Assignment No. 1 solution VU

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Assignment # 1

MTH302 (Spring 2011)

Total marks: 10

Lecture # 1 to 8

Due date: 15-04-2011

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Question 1:

If you want to get a loan with interest rate 7% per annum compounded monthly for a period of 17 years and pay Rs. 8,450 at the end of per month for this loan, then how much will you borrow?

Question 2:

If the basic salary of an employee is Rs. 30000 and allowances are Rs. 18,000.

What is the taxable income of the employee?

Answer:

Answer

%Allownces 18000/30000 *100

60%

Not taxable income 50% 30000*0.5

15000

taxable income 18000-15000

3000

Total taxable income 30000+3000

33000

Question 3 :

(a) If 3 students are absent out of a class of 24, what percent of the students are absent?

(b) If 12.5% of the students are absent in a class of 24, how many students are absent?

(c) If 3 students are absent and these comprise 12.5% of the class, how many students are enrolled in the class?

Answer:

Handouts of MTH302, View page28

A) 12.5%

B) 3

c) 24

Question 4:
What principal does Ali need to invest at 25% p.a.(per annum) compounding monthly so that he ends up with Rs. 100,000 at the end of five years? Also find compound interest.

Question 5:

A retired person wants to deposit his G.P. fund savings of Rs. 1,50,000 in a bank. The bank offers 12% interest compounded quarterly, so as to withdraw Rs. 6000 after each three months. Find the number of withdraws.

Solution: (Click the image for LARGE view)