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mth302-assignment 2-some answers
#1
AOA. I have solved some questions. check these.
Question 1:

If the Basic salary of an employee is Rs. 22000.

(a) What is the total saving per month of the employee on account of Provident Trust Fund?

if saving is 3% then total saving per month is 660.

(b) What is the amount of allowances if House Rent = 45 %,
Conveyance allowance = 2.5 % and Utilities allowance = 2.5 %?

allowances = 22000*0.45 + 22000*0.025 + 20000*0.025

Question 3:

Suppose you opened an account in a bank on January 1, 2003, with a deposit of Rs. 50,000 then you added Rs.12000 same day. What will be your account amount on July 1, 2005, if the plan earns a fixed rate of interest 11% per annum, compounded semi-annually?

62000*(1+0.11/2)^1
Question 4:

Payments of Rs. 9,000 were made at the end of each quarter into an account that pays an interest of 13% compounded quarterly. How much will be in that account after seven years?



Section B

Question 1:

Suppose you are managing an account in which you deposit Rs. 30,000 at the end of each year for 20 years. How much amount you have accumulated with the assumption that you earn 6% interest compounded annually.


Question 2:

Calculate the present value of an annuity of Rs.30,000 paid at the end of each month of 3 years. The annual interest rate is 12%.

Question 3:

The salary of an employee is as follows:
Basic salary = 20,000 Rs.
Allowances = 8,000 Rs.
What is the cost of the company on account of leaves (18.2%), group insurance/medical (5%) and other social benefits (5.8%)?
=0.182*28000+0.05*20000+0.058*20000

Question 4:

The salary package of a permanent employee includes:
Basic salary = Rs. 40,000
House rent = 45 %
Conveyance allowance = 2.5 %
Medical insurance = 5 %
Social charges = 5 %
If provident fund will not be given to him then find the gross remuneration.
=40000+ 40000*(0.45 + 0.025 - 0.05-0.05)
Section C

Question 1:

If house rent (45% of basic salary) of an employee is Rs.81, 00 then calculate the followings
Amount of basic salary
=8100/0.45=18000

Total amount of allowances given to the employee, if conveyance allowance is 2.5% and utility allowance is 3.5% of basic salary.
= 18000*(0.025+0.035)


Question 2:

An investment has been made for a period of 4 years. Rates of return for each year are 7%, 8%, - 9% and 5% respectively. If you invested Rs. 150,000 at the beginning of the term, how much will you have at the end of the last year?

Question 3:

If you invested Rs.80,000 at the rate of 11% per annum for 8 years. Calculate simple as well as compound interest of the amount.

simple = 80000*0.11*8
compound = 80000 ( 1+ 0.11)8

Question 2:

Sales of an outlet on Saturday were 25,000, which grew up 35,000 on Sunday. Calculate the percentage change. Also, write down the steps performed on excel.
35000-25000=10000
10000/25000=0.40
=40%


Question 3:

Ali started working in an organization with an earning of 15,000 rupees per month. His organization signed a three year collective agreement that provided for wage increases of 3.5%, 5.5% and 7.5% in successive years. What should be his earning per month at the end of the term of contract.
first year=15000*(1+0.035)
then repeat for second & third year
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