MTH101 Mid Term Current Paper (Dec 2010)

MTH101 Mid Term Current Paper (Dec 2010)

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 )
Ratio 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 )
Evaluate 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