Scribd
Upload
111 views

Practice Questions Lecture 4-6

The document contains practice questions and solutions from lectures 4-6. In lecture 4, questions involve calculating savings from a provident fund, finding an unknown value in an equation relating mean and numbers, and determining the best camera based on weighted ratings. Lecture 5 questions cover percentage changes in price and calculating future salary. Lecture 6 includes problems on discount rate, simple and compound interest, and determining a discount amount based on book prices.

Uploaded by

Komi Ch
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
111 views

Practice Questions Lecture 4-6

The document contains practice questions and solutions from lectures 4-6. In lecture 4, questions involve calculating savings from a provident fund, finding an unknown value in an equation relating mean and numbers, and determining the best camera based on weighted ratings. Lecture 5 questions cover percentage changes in price and calculating future salary. Lecture 6 includes problems on discount rate, simple and compound interest, and determining a discount amount based on book prices.

Uploaded by

Komi Ch
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 5

Practice Questions Lecture 4-6

Lecture No. 4

Question 1:
If the Basic salary of an employee is Rs. 22000. What is the total saving per month of the
employee on account of Provident Trust Fund?
Solution:

Total savings of employee in Provident Fund = 4000 Rs.

Question 2:
The mean of the numbers 16,10, 8 and x is 12; find the value of x.

Answer: x=14

Question 3:
Sam wants to buy a new camera, and decides on the following rating system:

 Image Quality 50%


 Battery Life 30%
 Zoom Range 20%

The Cony camera gets 8 (out of 10) for Image Quality, 6 for Battery Life and 7 for Zoom Range
The Sanon camera gets 9 for Image Quality, 4 for Battery Life and 6 for Zoom Range
Which camera is best?

Solution:
Weighted mean for Cony: = 7.2
Weighted mean for Sanon: = 6.9
Sam decides to buy the Cony.

Question 4:

Calculate the weighted average for the following data.


Value Weight
100 0.1
200 0.2
300 0.3
400 0.2
500 0.2

Solution:

weighted average 
xw i i
 320
w i

Question 5:

What will be the Gross salary of a person whose basic salary is 8,000.

Hint: Gross salary = basic salary + house rent + conveyance allowance + Utility allowance

Answer:

Gross salary = 12,000

Lecture No. 5

Question 1:

A pair of glasses went from $5 to $6, what is the percentage change?

Answer: 20% rise.

Question 2:

The price of a water heater was $150 and is increased by 15 %. Calculate the New Price?

Answer: $172.5
Question 3:

A company signs a three year collective agreement that provides for the salary increase of 3%,
2%, and 1% in successive years. If an employee is currently earning 5000 rupees per month,
What will be the salary per month at the end of the term of the contract?

Answer: Rs 5305.53

Question 4:

If for a sewing machine the price is increased by 10% in 2005 and after a year, in 2006, the item price
reduced by 15%. If the Sale Price of the item is Rs 4500 currently then find the original price at the
beginning of 2005.

Solution:

Let the original price = x


Then the price after 10% increase will be
P1  x  10% x
P1  x  0.1x
P1  1.1x
Let P2 be the price after 15% reduction, then
P2  P1  15% P1
P2  P1  0.15 P1
P2  1.1x  (0.15)(1.1x)
P2  0.935 x
But it is given in the statement that P2  4500 , so
4500  0.935 x
x  4812.8
Thus, the original price of the machine was 4812.8.

Lecture No. 6

Question 1:
Find the Discount when price is 3000 and discount rate is 12.5%.

Answer: Discount = 375

Question 2:

If you invested Rs.80,000 at the rate of 11% per annum for 8 years. Calculate simple as well as
compound interest of the amount.

Solution:

For simple interest, we use


I= (P*R*T)/100,
Where I= simple interest
P= principal
R= rate of interest percent per annum
T= time in years
Here
I= (80,000*11*8)/100= Rs. 70400
For compound interest, we use
S= P(1+r/100)^n,
Where S= compound interest
P= principal
r= rate of interest
n= time in years
Here
S= 80,000(1+11/100) ^8= Rs.184363.02

Question 3:

The price of book I and book II are Rs 800 and Rs 650 respectively. If the same discount is given on both
books, then price of book I will be 3 times greater than the price of book II. What is the discount
offered?

Solution:

Price of book I = Rs 800


Price of book II = Rs 650
By the condition,

800 - d = 3 ( 650 - d )
800 - d = 1950 - 3d
3d - d = 1950 - 800
d= 575
Question 4:

1
7
If a bank allow to lend a loan of amount of 3, 00,000 for a time period of 4 years and 4months at 2%
per anum, then find simple interest to be paid by borrower.

Solution:

Principal = P = 300000
1 15 1 15
7  
Rate =R = 2 % per annum = 2 100 200

4 52
4 
Time = T= 4 years and 4 months = 12 12
15 52
300000       97500   
Interest = P*R*T = 200 12

-----------------------------------------------------------------------

You might also like