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GAssignment (Maths)

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8 views

GAssignment (Maths)

Uploaded by

dagikg084
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Mathematics for Management Group Assignment

Instruction: Form a group having a maximum of 10 members per group and perform this group
assignment. Neat, clear and readable hand writing will rewardable.

 Target Group: Extension Students


 Maximum Weight: 20%
 Submission Date: Up on request

1. A farmer wants to customize his fertilizer for his current crop. He can buy plant food mix A
and plant food mix B. Each cubic yard of food A contains 20 pounds of phosphoric acid, 30
pounds of nitrogen and 5 pounds of potash. Each cubic yard of food B contains 10 pounds of
phosphoric acid, 30 pounds of nitrogen and 10 pounds of potash. He requires a minimum of
460 pounds of phosphoric acid, 960 pounds of nitrogen and 220 pounds of potash. If food A
costs $30 per cubic yard and food B costs $35 per cubic yard.
A. Formulate the LPM?
B. Solve it using graphical method.

2. Given the following linear programing model, find the optimal solution using simplex
method.

Min Z=10x1 +5x2


Subject to:
2x1 + 5x2 > 150
3x1+ x2 > 120
x1, x2 > 0

3. A 12 year old student wants to begin saving for college. She plans to deposit Birr 50 in a
saving account at the end of each quarter for the next 6 years. Interest is earned at a rate of
6% per year compounded quarterly. What should be her account balance 6 years from now
and how much interest will she earn?
4. Ato Tefera purchased a house for Birr 250,000. He made a 20% down payment, with a
balance to be amortized by a 30-year mortgage at annual interest rate of 12% compounded
monthly.
A. Determine the amount of his monthly mortgage payment
B. What is the total amount of interest Ato Tefera will pay over the life of the
mortgage?
C. Determine the amount of the mortgage Ato Tefera will have paid after 10 years.
D. What will be Ato Tefera's equity in the house at the end of 10 years?

5. Mr. X wanted to buy a leather sofa for his new family room. The cost of the sofa was Birr
10,000. He was short of cash and went to his local bank and borrowed Birr 10,000 for 6
months at an annual interest rate of 12%. Find the total simple interest and the maturity value
of the loan.

6. A newly married couple are both working and decide to have Birr 1000 at the end of a month
for a down payment on a home. The account earns 12% compound monthly. How large a
down payment will they have saved in three years?

7. Suppose you borrow Birr 5000 from a bank and agree to repay the loan in five equal
installments including all interests due. The bank’s interest charges are 5% compounded
annually. How much should each annual payment be in order to retire the debt including the
interest in 5 years?

8. The manufacturing company can sell x units of a certain product per month at a price p = 200
– 0.01x dollars per unit. The management of the company has determined that it costs y =
50x + 20000 dollars to manufacture the x units.
A. Compute average revenue function
B. Compute average total cost function
C. Compute average profit function
D. How many items should the company produce to maximize the profit?
E. Test whether this value of x is a maximum or not

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