Assignment # 1
MTH302 (Fall 2010)
Total marks: 10
Lecture # 1 to 8
Due date: 28-10-10
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· This is an individual assignment, not group assignment, so keep in mind that you are supposed to submit your own, self made & different assignment even if you discuss the questions with your class fellows. All similar assignments (even with some meaningless modifications) will be awarded zero marks and no excuse will be accepted. This is your responsibility to keep your assignment safe from others. Many solution files sent by students in assignment 1 are found to be copied and so awarded zero. You are therefore reminding here again.
· Above all instructions are for all assignments so may not be mentioned in future.
· There are 7 questions in the assignment but only one question will be graded. However we are not mentioning that which question will be graded so you have to provide the solution of all 7 questions.
· Solve the assignment on MS word document and upload your word (.doc) files only. Do not solve the assignment on MS excel. If we get any assignment on MS excel or any format other than word file then it will not be graded.
Question 1:
If the basic salary of an employee is Rs. 37000 and allowances are Rs. 22,000.
What is the taxable income of employee?
Question 2:
If the salary and allowances of an employee is as follows:
Basic salary = Rs. 12,000
House Rent Allowance = 45%
Conveyance Allowance = 5%
Utilities Allowance = 7%
Group Insurance/Medical = 0%
Misc. Social Charges = 5.8%
There are 12 casual, 24 earned and no sick leaves per year where as normal working days per month are 26. Find the Gross remuneration of the employee.
Question 3:
A trade discount series of 20, 10, and 5 is offered on an item which has a list price of Rs. 9100. Find the amount of discount and the net price.
Question 4:
If your goal is to have an amount of 325000 in seven years and you can get interest rate of 9% per annum compounded annually. How much would you need to invest now?
Question 5:
If you start saving Rs. 28,000 at the end of each six month, and you get interest rate 11% (per annum) compounded semi-annually, how much will you have accumulated at the end of 20 years?
Question 6:
The price of an item decreased from Rs. 856 to Rs.752. What is the percentage change in price of item?
Question # 7
Suppose you can afford to pay 9,000 per month on a loan. How much can you borrow if the loan is for a period of 15 years and the interest rate is 5% per annum compounded monthly?