MTH302 Midterm Solved Paper 2010

MTH302 Midterm Paper 2010 solved - Business Mathematics and Statistics (A-01)

MTH302 Midterm Paper 2010 solved - Business Mathematics and Statistics (A-01)

MIDTERM EXAMINATION Spring 2010 Shared by Black Mist Solved by vuZs Team Mehreen Humayun

Time: 60 min

M = Marks= 40

Q1. In which Trust Fund, the company does not deduct, but only contribute 1/11th of Basic Salary of the employee per month?

1. Provident Fund
2. Gratuity Fund
3. Charity Fund
4. None of the above

Correct answer: Gratuity Fund

Gratuity Fund: According to local laws, a company can establish a Gratuity Trust Fund for the benefit of the employees. By law, 1/11th of Basic Salary per month is contributed by the company to the Gratuity Fund to the account of the employee. Thus there is a saving of 1/11th of basic salary on behalf of the employee in Gratuity Fund.

Q2. The answer of the above formula is

1. None of the above.
2. a number
3. a matrix
4. #NUM!

Correct answer: a matrix

MINVERSE: Returns the inverse matrix for the matrix stored in an array.

Q3. If a profit ratio of A and B is 2 to 3, then A’s share in profit will be

1. 2/5
2. 2/3
3. 3/2
4. 3/5

Correct answer: 2/5

Q4. After the merchant buys merchandise, it is sold at a higher price called the _______

1. Sale price
2. Revenue discount
3. Selling price
4. Cost price

Correct answer: Selling price

Q5. A reduction of the amount due on an invoice is called a _______ . (

1. Trade discount
2. Net discount
3. Cash discount
4. Unearned discount

Correct answer: Trade discount

Trade discount represents a reduction in list price in return for quantity purchases.

Q6. Total Provident Fund added to the employee’s fund is ----------------- of the basic salary.

1. 1 / 11 th
2. 2 / 11 th
3. 9.09 %
4. 9.99%

Correct answer: 9.09 %

Provident Fund 9.09 % of basic salary.