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MTH302 Midterm Solved MCQs With Reference by Wajid Malik 1

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0% found this document useful (0 votes)
24 views8 pages

MTH302 Midterm Solved MCQs With Reference by Wajid Malik 1

Uploaded by

sheharyar.ahmad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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MIDTERM EXAMINATION

Spring 2010
MTH302- Business Mathematics & Statistics (Session - 3)
Ref No: 1503551
Time: 60 min

Question No: 1 ( Marks: 1 ) - Please choose one


If
the basic salary is Rs 6500 and the social charges are Rs 1820, what percentage of basic salary
are the social charges?

► 27 %
► 28 %
► 29 %
► 30 %

Question No: 2 ( Marks: 1 ) - Please choose one


The
price at which a business purchases merchandise is called the
► List
► Cost

► Investment

► Exchange rate

Question No: 3 ( Marks: 1 ) - Please choose one


A
reduction of the amount due on an invoice is called a _______ .
► Trade discount
► Net discount

► Cash discount

► Unearned discount

Question No: 4 ( Marks: 1 ) - Please choose one


If
Selling Price = Rs. 5890 and Markup Rate = 59.5 % then the Cost Price is equal to

► Rs. 3229.70
► 3692.79
► 2385.45
► 3504.55

Question No: 5 ( Marks: 1 ) - Please choose one

0.20% = ------------
► 0.2
► 0.02
► 0.002
► 0.0002

Question No: 6 ( Marks: 1 ) - Please choose one

What percentage is 10% of 85?

► 
► 
► 
► None of these

Question No: 7 ( Marks: 1 ) - Please choose one

If a matrix has four column and 5 rows then its dimensions are

►
►
►
►

Question No: 8 ( Marks: 1 ) - Please choose one


If an
asset is purchased at Rs 3000 on the date 6/29/2008 and the first depreication period ends on 11/29/2008, where
salvage value is 300 and period is taken as 1 on 20% interest rate where basis =1, then which of the following
function Returns the depreciation for given accounting period

►=AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1*12, 20%, 1)


►=AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1, 20% / 12 , 1)
►=AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1, 20%, 1)
►=AMORLINC(3000, 6/29/2008, 11/29/2008, 300, 1*12 , 20%/12, 1)
►None of these

Question No: 9 ( Marks: 1 ) - Please choose one

The break even point is a point when ----------------------


► Revenue is greater than cost.
► Revenue is less than cost.
► Revenue is exactly equal to cost.
► None of the above.

Question No: 10 ( Marks: 1 ) - Please choose one


This
example returns the depreciation for an asset that costs Rs. 10,000, with a salvage value of
$6,000. The useful life of the asset is 4 years. The depreciation is being calculated for the first
year, and there are 12 months in the first year.

► =DB (10000, 6000, 4, 1, 12)


► =DB (10000, 6000, 4, 12, 1)
► =DB (6000, 10000, 4, 12, 1)
► =DB (10000, 6000, 4, 1, 1)

Question No: 11 ( Marks: 1 ) - Please choose one


The
text concatenation operator is used to
► include “:” and “,”
► calculate exponentiation: ^

► combine two text strings


► make comparisons.

Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following formulas is the correct formula for calculating selling price

► Cost price (1+Cost price × %Markup on cost)

► Cost price (1+ %Markup on cost)

► Cost price (Cost price × %Markup on cost)

► Cost price (Cost price + Cost price × %Markup on cost)


Question No: 13 ( Marks: 1 ) - Please choose one
If
the cost & selling price of a pen are Rs.12 & Rs.15 respectively, profit percentage is:

► 33.33%

► 25%

► 20%

► 10%

Question No: 14 ( Marks: 1 ) - Please choose one

Given FC = Rs.5000 ,CM= Rs. 30 ,VC= Rs. 150 , Capacity = 320units then BEP in units =
► 4500 units
► 167 units
► 33 units
► 16 units

Question No: 15 ( Marks: 1 ) - Please choose one

3x2 + 5x – 7 is --------------- expression.

► Monomial
► Binomial
► Trinomial
► Linear

Question No: 16 ( Marks: 1 ) - Please choose one

If there is a change of -30% in the price of an item, what does the negative sign show?
► The price is decreasing.
► The price has low rate of change.
► None of the above.
► The price is increasing.

Question No: 17 ( Marks: 1 ) - Please choose one


The
price-earning ratio is calculated as…………..

► Market value per share/Earning per share (EPS)

► Earning per share (EPS)/Market value per share

► Market value per share+Earning per share (EPS)

► Market value per share-Earning per share (EPS)

Question No: 18 ( Marks: 1 ) - Please choose one


Net
current asset value per share (NCAVPS) is calculated as………

► No. of shares outstanding/(Current assets-total liabilities)

► (Current assets-total liabilities)/No. of shares outstanding

► No. of shares outstanding+(Current assets-total liabilities)

► No. of shares outstanding-(Current assets-total liabilities)

Question No: 19 ( Marks: 1 ) - Please choose one

What shall be contribution margin if sale price is Rs.50 and variable cost is
Rs.30?

► Rs.80
► Rs.20
► Rs.30
► none of these

Question No: 20 ( Marks: 1 ) - Please choose one


For
multiplication of two matrices A and B
► The no. of rows of A must be equal to columns of B

► The no. of rows of B must be equal to no. columns of A


► The no. of columns of A must be equal to no. rows of B

► None of these

Question No: 21 ( Marks: 2 )

The price of a sandwich maker is Rs 2000. The company offers a 25% trade discount. Find trade
discount amount.

Solution

Sandwich Price Rs.2, 000


Trade Discount Rate 25%
Trade Discount Amount =2,000*25/100

=Rs.500/

Question No: 22 ( Marks: 2 )

A firm sells its new product at Rs. 65 per unit. If the variable cost is Rs 40, find the
contribution margin.

Solution

Sale Price Per Unit Rs.65


Variable Cost Rs.40
Contribution Margin =S-VC
=65-40

= Rs.25 per unit

Question No: 23 ( Marks: 3 )


Rati
o of sales of Product X to sales of Product Y is 5:4. The sales of product X is forecasted
at Rs. 200,000. What should be the Sales of product Y to maintain the ratio of sales
between the two products?

Solution

Ratio x to y 5:4
Sale of Product x Rs.200,000
Sale of product of y =200,000 * 4/5

=Rs.160, 000

Question No: 24 ( Marks: 3 )

A company sells its item at Rs. 125 per unit. If the variable cost is Rs 80, find the
contribution rate.

Solution

Sale Price per unit Rs.125


Variable Cost Rs.80
Contribution margin =S-VC
=125-80
=Rs.45
Contribution Rate =CM/S*100
=45/125*100

=36%

Question No: 25 ( Marks: 5 )

Ahmed buys 10 apples for $1. At what price should he sell a dozen apples if he wishes to make a
profit of 25%?

Solution

Cost price =$1 for 10 Apples


Cost price per apple =1/10
=$0.1
Cost price of dozen apples =0.1*12
=$1.2
Profit Margin 25%
Sale price =1.2*125/100

=$1.5

Question No: 26 ( Marks: 5 )


Eval
uate the sum of the years digits depreciation of an asset having the cost of Rs.10, 000
for a period of 5 years such that salvage value after 7 years is Rs.5000.

Solution

Cost Price Rs.10, 000


Salvage value after 7 years Rs.5, 000
Depreciable Value =Cost Price – Salvage value
=10,000-5,000
=5,000
Sum of Years digit depreciation. =7+6+5+4+3+2+1
=28

1st year depreciation =7/28*5000 =Rs.1, 250


2nd year depreciation =6/28*5000 =Rs.1, 071
3rd year depreciation =5/28*5000 =Rs.893
4th year depreciation =4/28*5000 =Rs.714
5th year depreciation =3/28*5000 =Rs.536

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