CONFIDENTIAL, CSIOCT 2016/MAT112 a UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE BUSINESS MATHEMATICS COURSE CODE MAT112 EXAMINATION OCTOBER 2016 TIME : 3HOURS INSTRUCTIONS TO CANDIDATES i This question paper consists of two (2) parts: PART A (8 Questions) PART B (3 Questions) 2 ‘Answer ALL questions in the Answer Booklet. Start each answer on a new page. 3. Calculator can be used. 4 Do not bring any material into the examination room unless permission is given by the invigilator. 5 Please check to make sure that this examination pack consists of ’) the Question Paper ji) acne — page Appendix 1 (Tax Rate Schedule For Personal Income) ii) aone~ page Appendix 2 (List of Formula) iv) _ an Answer Booklet - provided by the Faculty 6 Answer ALL questions in English, DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 5 printed pages (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL 2 CSIOCT 2016/MAT112 PARTA QUESTION 1 The fifth term of an arithmetic sequence is 24 and the sum of the first ten terms is 265. Find the common difference of the sequence. (5 marks) QUESTION 2 Shiela had saved RM3,000 in an account that offered r% simple interest per annum on 20 March 2015. If the interest on 6 June 2015 was RMS0, find the value of r using Banker's Rule. (5 marks) QUESTION 3 The owner of a new start up software company needs RM7,000 to get his business started as soon as possible. He decides to take a loan from a bank which charges a discount rate of 5%, If the amount of bank discount is RM175, find the amount of the loan. (5 marks) QUESTION 4 Liza deposited RM X into an account that paid an interest rate of 5% compounded monthly. After 2 years, the accumulated amount was RM28,347.27. Calculate the value of X. (5 marks) QUESTION 5 Cynthia made equal payments of RM300 every month for two years at 12% interest compounded monthly. Find the amount of loan taken by Cynthia. (5 marks) QUESTION 6 Juliet purchased a house listed at RM100,000 through a hire purchase agreement in which she has to pay RM10,000 as a down payment. The balance has to be repaid by making monthly payments for 35 years. If the interest charged is 9.5% per annum on the reducing balance, calculate the outstanding balance just after paying the 120” payment using the rule of 78. (5 marks) (© Hak Cipta Universit Teknologi MARA CONFIDENTIALCONFIDENTIAL, 3 CSIOCT 2016/MAT112 QUESTION 7 Ali bought a computer listed at RM5,000. He was given trade discounts of 20%, 10% and 5%. Find the net price of the computer. (5 marks) QUESTION 8 The cost of a new machine is RM600,000. It is estimated to have a useful life of 15 years with a scrap value of RM10,000. Calculate the book value at the end of seven years using the straight line method. (5 marks) (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL, 4 CSIOCT 2016/MAT112 PARTB QUESTION 1 a) An invoice dated 26 October 2014 amounted to RM8,260 was offered trade discounts of 7%, 2% and cash discount terms of 3/15, 2/30, n/60. Find: j) the net price after trade discount. (3 marks) ii) the amount paid on 17 November 2014. (5 marks) b) Ali and his wife, Ani have 5 children. Three of the children are still schooling. The other two are above 18 years old, one of them is working and the other is studying in a local university. Their income and expenditures for the assessment year were as follows. Ali (RM) ‘Ani (RM) Total income 60,000 40,000 EPF 4,730 3,894 LIP [3,250 3,000 Cash donations 800 700 Parents medical expenses 8,000 4,000 Purchase of computer - 4,500 Zakat 350 - Assess their tax payable if they choose joint assessment. (12 marks) QUESTION 2 a) Said received a 60-day promissory note with a simple interest rate of 8% and a maturity value of RM2,533.33. The maturity date of the note was 19” June 2014. Find: i) the date of the note. (5 marks) ji) the face value of the note using the Banker's Rule. (5 marks) (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL 5 CSIOCT 2016/MAT112 b) A. shirt was bought for RM250. The total operating expenses incurred in selling the shirt was 45% of the cost. The retailer made a net profit of 15% based on the cost. Find: i) the selling price of the shirt. (4 marks) ii) the maximum markdown percentage could be offered so that there is no loss/profit. (6 marks) QUESTION 3 a) Avretailer sells freezers at RM4,000 per unit. On the instalment plan, a down payment of RMS5S50 is required and the balance is to be paid in 24 equal monthly payments at 8% simple interest based on the original balance. Find i) the monthly payment (3 marks) ii) the instalment price of the freezer. (5 marks) b) Mary took a loan of RM100,000 from a bank at an interest of 5% compounded monthly. She had to settle the loan in 9 years. i) Find the monthly payment ( marks) il) Immediately after paying for 8 years, she wanted to pay off her debt. Calculate the amount to be settled. (7 marks) END OF QUESTION PAPER (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL APPENDIX 1 CS/OCT 2016/MAT112 TAX RATE SCHEDULE FOR PERSONAL INCOME Chargeable Income Rate Tax (RM) (%) (RM) On the first 2,500 o 0 On the next 2,500 | 0 0 On the first | 5,000 0 On the next 46,000 2 100 On the first 10,000 2 100 On the next 40,000 200 On the first 20,000 300 On the next 48,000 6 900 On the first 35,000 1,200 | On the next 15,000 1 1,650 | | On the first 50,000 2,860 | On the next 20,000 19 3,800 On the first 70,000 6,650 On the next 30,000 24 7,200 | On the first 100,000 | On the next Every RM after 26 (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL, APPENDIX 2 CSIOCT 2016/MAT112 LISTS OF FORMULA 1. Fat(n-td 2. st ar 4 5. S=P(1+r) 6. Proceeds = S(1~dt) 7, 8 d= Tent 9. S=P(+i)" 10. szr[ r=) 1". ann =o" 12. SP=C+M 13. GP=OE+NP. 14, NP=LP (1-d,)(1=dh)..(1- dy) 16, Baa 16 17. BV,=C(I-r)" 418. OPB=(Rxk)- i] (© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL