B.

COM I GUESS PAPER 2015-16

INTRODUCTION TO BUSINESS
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B.COM I GUESS PAPER 2015-16

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B.COM I GUESS PAPER 2015-16

 B.COM I GUESS PAPER 2015-16
PAKISTAN STUDIES
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MONEY & BANKING FINANCE

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ECONOMICS
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Q9. Stat and explain Marshall’s definition of economics. On what grounds it has been criticized
OR
Compare Robbins and Marshall’s definitions of economics. Which one is better

Q10. Explain the law of diminishing marginal utility with the help of schedule and diagram. What are its
limitations and assumptions?
OR
Stat and explain the law of equi-marginal utility with the help of a schedule and diagram
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Q11. Define an indifference curve. State and prove the main properties of indifference curve with the help of
diagram

Q12. Define income and cross elasticity of demand. Explain various methods of their measurement
OR
Define price elasticity of demand. Describe the methods to measure price elasticity of demand

Q13. State and explain the Law of variable proportion with the help of a schedule and diagram

Q14. Define perfect competition. Explain short and long run equilibrium of a firm under perfect
competition
OR
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What is perfect competition? How is the price and output determine under perfect competition

Q15. Define direct and indirect taxes. Give example and examine their comparative advantages and
disadvantages
OR
Discuss various principles or canons of taxation followed by modern governments

Q16. Distinguish between micro and macroeconomics and explain their importance

Q17. Define national income. Point out the difficulties in its correct measurement
OR
Define national income and explain various concept of national income
OR
Explain the different methods of measurement of national income. Point out the difficulties in its correct
measurements

Q18. What is the role that and Islamic state can play in a modern society?
OR
Define zakat. Give its impact on the economy of a country
OR
What is the difference between Zakaat and Tax

Q19. What is Oligopoly? Write the main reasons which give rise to Oligopoly

Q20. Critically examine Ricardian theory of rent.

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Accounting
BILL OF EXCHANGE
On 1st January, 2010 Abdullah sold goods to Omer for Rs 60, 000 Omer paid Rs 12, 000 in cash and three bills for
balance. The first bill for Rs. 14, 00 at one month the second for Rs 16, 000 at two months and the third for the
balance amount at three months
Abdullah endorsed 1 st bill to Akram his creditor on 2nd January in full settlement of Rs 14, 200, discounted the
2nd bill at his bank for Rs. 15, 840 and retained the third bill till maturity.
The first bill is met at maturity. The second bill is dishonored and Rs. 200 being paid as noting charges. Abdullah
charges Rs..300 for interest and draw on Omer a forth bill for the amount at three months. At maturity the 3rd bill
was renewed with interest of 10% p.a. for three months. The 5th bill was duly accepted by Omer. The fourth and
fifth bills were met on maturity.
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Required: Journal entries in the books of Abdullah

OR
Noman for mutual accommodation draws a bill for Rs.45, 000 on Ahsan at three months. Noman gets the bill
discounted by his banker for Rs. 43, 875 and remits Rs 14, 625 to Ahsan on maturity Noman is not able to send the
amount due to Ahsan, to enable him to meet the bill. He, however, accepts a bill-for Rs. 56,250 which is discounted
by Ahsan for Rs. 52,875. Ahsan meets his acceptance and remits Rs. 2, 700 to Noman. Before the due date of the bill
Noman becomes insolvent and a dividend of 60 paisa in the rupee is received from his estate.
Required: Pass journal entries and show account of Noman in the books of Ahsan
OR
A sold goods to B for Rs. 50, 000 and drew on B a bill for the amount at 3 months. A endorsed the bill-to his
creditor. C. C endorsed it to his creditor D. D got the bill discounted by his bank at 12% p.a. On maturity, the bill is
dishonored and bank pays Rs. 50 for noting charges.
Pass entries in the books of A, B, C, D and the bank.
OR
For their mutual Accommodation Asim draws a bill for Rs. 50, 000 on Wasif for three months. Wasif accepts it and
returned it to Asim, The proceeds Of the bill are to be shared by Asim and Wasif in the ratio of 3/5 and 2/5
respectively. The bill is got discounted by Asim for Rs, 49, 750 and he remits 2/5 of the proceeds to Wasif. Before
the due date Wasif draws another bill for Rs. 100, 000 on Asim at three months, which help of these proceeds the
first bill is met by Wasif and remaining proceeds are shared Asim and Wasif in the ratio of 2/5 and 3/5 respectively.
The bill is discounted for Rs. 99, 500. Before the due date of the second bill, Asim becomes insolvent and his estate
pays only 25% of the debts.

BANK RECONCILIATION STATEMENT

From the following particulars prepare Bank Reconciliation Statement of Mr. Hamza as at 31st December 2009.
(a). Bank overdraft as per Bank Statement Rs. 4,700.
(b). Cheques issued prior to 31st Documenter amounted to Rs, 1, 800 of which cheques of Rs. 1, 050 have so far
been presented to the bank.
(c). Interest on over draft for six months ending on 31 st December Rs. 235 debited in the bank Statement.
(d). Cheque paid into Banff-, but not cleared and credited by the Bank were Rs. 3, 250
(e). Bank charges debited in the Bank Statement amounted to Rs. 65.
(f). Interest and dividends on investments, etc, collected and credited by the, bank in the Bank Statement
amounted to Rs 350.
(g). A cheque for Rs. 220 received from a customer and entered in the bank column of the cash Book was
omitted to be paid into the bank.
(h). A customer has directly paid Rs. 350 to our banker in the settlement of his account
OR
(a) A trader has two Bank Accounts a/c No.1 and a/c No.2. The following particulars relating to a/c No.1 are
available on 31 st March 2010.
(i). Pass Book balance (overdrawn) Rs. 60, 000.
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(ii). Cheque drawn prior to 31st March but not presented as yet Rs.16, 000.
(iii). Cheque paid into the bank on 31st March 2010 but not yet credited Rs. 28, 000.
(iv). Interest debited by the bank but not entered in the cash book as yet Rs. 1, 600.
(v). Transfer from A/c No. 2 to A/c No.1 recorded by the bank on 31st March, but not entered in the cashbook
Rs. 12, 000.
(vi). Bank charges debited by the bank but not recorded in the cash book as yet Rs. 40.
Required: Prepare a Bank Reconciliation Statement for account No. 1 as on 31st March. 2010.

OR
On 31st March, 2011, the Cash Book of Mr. Aqeel shows Rs.33, 436 as bank balance. But it does not agree with the
balance as shown by the Pass Book. On comparison, you
Find the following discrepancies:
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(1) The payment side of the cash book was under cast by Rs. 400.
(2) A cheque issued for Rs: 524 on 25th March, was recorded in the cash column of the cash book.
(3) A cheque of Rs. 600 deposited was recorded in the cash column of the cash book.
(4) On 20th March, the debit balance of Rs. 6, 104 as on the previous day was brought forward as credit balance.
(5) The total cheques amounting Rs. 46, 056 drawn in the last week of March 2011, cheque totaling Rs. 31,
260 encashed in March.
(6) Dividend of Rs. 1, 000 collected by the bank was not entered in the cash book.
(7) Trade subscription of Rs. 400 paid by the bank was not recorded in the cash book.
(8) One outgoing cheque for Rs. 1, 400 was recorded twice in the cash book.
Required:Prepare a Bank Reconciliation Statement with the help of revised cash book as at 31st March, 2011.
OR
From the following particulars prepare a bank reconciliation statement as on 31st March 2011.
(1) Bank balance as on 31st March 2011 as per pass book Rs. 15, 200
(2) Bank charges debited Rs..130 in the pass book
(3) Cheques issued but not presented to bank for payment Rs.2, 000
(4) Cheques deposited to bank but not credited in the pass book.Rs.7, 000
(5) A cheque entered as a deposit in a cash book instead of payment Rs.220
(6) Rs. 364 paid into Bank had been entered twice in the cash book.
(7) The receipt column of the Cash Book has been over cast by Rs, 1, 000
(8) A cheque drawn for Rs, 9 had been incorrectly entered in the cash book as Rs.99.

TRADING AND PROFIT & LOSS ACCOUNT

The following balances appeared in the Books of Sania on 31st December, 2008.
Rs Rs
Building 70,000 Carriage on purchase 1, 291
Car 12, 000 Carnage on sales 800
Furniture 1, 640 Reserve to bad debts 1, 320
Sundry debtors 15, 600 Establishment 2, 135
Sundry creditors 18, 852 Taxes & insurance 783
Stock 15, 040 Interest (Cr) 340
Cash in hand 988 Bad debts 613
Cash at bank 14, 534 Audit fee 400
Bills receivable 5, 844 General charges 3, 950
Bills payable 6, 930 Traveling expenses 325
Purchases 85, 522 Discount (Dr) 620
Sales 121, 850 Investments 8, 922
Capital 92, 000 Sales Return 285
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Required: Prepare Trading and Profit and Loss Account of Income statement for the year ended
31 st December, 2008, and balance sheet as on that date. In doing so take the following matters into
consideration
(i). Stock on 31st December 2008 amounted to Rs 15, 550
(ii). Depreciate Motorcar at 20 % and Furniture at 10 %
(iii). Increase Bad Debts Reserve by 5 per cent on sundry Debtors
(iv). Salaries Rs. 500 and Taxes Rs. 150 are outstanding.
(v). Unexpired insurance Rs 50
(vi). Interest accrued on Investments Rs. 120
(vii). Rent due for a portion of the Building let Rs 150
(viii). A hill receivable for Rs 500 was discounted in December, 2008 but was not due till January 2009.
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OR
From the following Trail Balance and adjustments, you are required to prepare Trading and Profit and Loss Account
for the year ended 31st December, 2011 and a Balance Sheet as on 31.12.2011.
Debit Balances Rs. Credit Balances Rs.
Cash at bank 31, 800 Capital 420, 000
Cash in hand 4, 800 Sundry creditors 60, 000
Closing stock 180, 000 Bills payable 30, 000
Plant and machinery 450, 000 Sales 1,390, 200
Bills receivable 30, 000 Provision for bad debts 2, 100
Sundry debtors 303,600 Reserve 120, 000
Purchases (adjusted) 540, 000
Buildings 300, 000
Salaries 66, 000
Wages 86, 400
Postage & telegrams 4, 500
Carriage inward 4, 500
Bad debts 5, 700
Carriage outward 6, 000
General expenses 9, 000
Adjustments:
(i) Salaries unpaid Rs. 54, 000
(ii) Charge 5% interest on capital
(iii) Raise Bad debts provision to 2.5% of debtors
(iv) Transfer 2.5% of net profit to reserve a/c
(v) It was discovered in January 2011 that the stock on 31st December, 2010 was over cast by
Rs. 6,000.
OR
The following are the balances extracted from the books of A. Rashid as at 31st December 2008.
Accounts Title Rs. Accounts Title Rs.
Capital account 90, 000 Bad debts reserve 3, 240
Drawings 7, 600 Taxes & insurance 1, 300
Purchases 89, 470 Discount account credit 190
Purchases return 4, 240 Bills receivable 1, 240
Sales 1, 49, 840 Sundry debtors 62, 970
Sales return 2, 820 Sundry creditors 16, 980
Stock (1-1-2008) 11, 460 Cash & bank 12, 400
Salaries & wages 6, 280 Cash in hand 2, 210
Buildings 25, 000 Office furniture 3, 500
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Freight & cleaning Travelers salaries & commission 9, 870

charges 16, 940
Carriage inwards 2, 310 Addition to building 7, 000
Office expense 1, 340 Rent received 2,100
Printing & stationary 660
Postage & telegram 820
Bad debts 1, 400
You are required to prepare trading and profit and loss account for the year ended 31st December 2008 and a
balance sheet as on that date after making the following adjustments.
(1) Depreciate building by 2-1/2% and office furniture by 5%
(2) Reserve for bad debts to be made up to Rs. 4,000
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(3) Salaries outstanding for December Rs. 570

(4) Rend Receivable Rs. 200
(5) 5% interest to be charged on capital.
(6) The value of Stock on 31 st December 2008 was Rs. 14, 290
(7) Unexpired insurance amounted Rs. 240

RECTIFYING AN ERROR:
Ms. Affaf finds excess debit of Rs 800 in the trial balance. She places the difference to a newly opened suspense
account to balance the trail balance. Later she discovers the following discrepancies.
(a) An item of Sale for Rs 5, 900 was posted to the sale a/c at 9, 500.
(b) The total of the sales returns book has been added Rs 100 short
(c) An amount of Rs 3, 700 received from a customer has been credited to his account as Rs. 7, 300.
(d) Rs. 150, 000 paid for purchase of building has been charged to the ordinary purchase account.
(e) A sum of Rs 9, 500 written off from building a/c as depreciation has not been posted to depreciation a/c.
(f) An amount received from a debtor of Rs. 9.700 has been debited to his account as Rs. 7, 900.
Required: Give the rectifying entries and prepare the Suspense Account. State also the ultimate effect of these
correcting entries on the profit of the business.
OR
The Trail Balance of Farooq & Co. did not agree. The credit side was exceeding that of debit side by Rs. 20, 000 and
the difference was placed in Suspense A/c. The following errors were discovered later on. To rectify these errors pass
necessary journal entries and prepare suspense account State also the effect of errors on final accounts.
Purchase Book was overcast by Rs. 3, 600. An amount of Rs. 5, 200 receivable from Salman & Co. was not included
in Debtors schedule. Received Rs. 11, 600 from Khawaja & Co. but this was credited to their account as Rs. 10, 000.
Goods sold to Ahsan for Rs.14, 000 on credit were not posted to his account.
Rafiq Bros. returned goods worth Rs. 6, 000. This was credited to their account but not entered in the sales returns
book.
OR

In taking out the Trial Balance the accountant finds that the total of the credit side exceeds that of debit side by Rs.2,
410. He places the difference to a suspense account subsequently detects the following mistakes:
(i) Stationary purchased for Rs. 890 but debited to stationary account as Rs. 980.
(ii) A sum of Rs. 650 received from Alain was credited twice in his account.
(iii) Wages Rs. 250 paid to installing a machine ware debited to wages account as Rs. 520.
(iv) A sale of Rs. 350 was entered in the purchase book as Rs. 530 but customer’s account was correctly
debited with Rs. 350.
(v) A sale of Rs. 1, 000 to Fawad was credited to his account twice.
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(vi) Old furniture sold for Rs. 6,000 was passed through sale book.
Give the rectifying entries and prepare the suspense account.
OR
Pass necessary journal entries to rectify the following errors:
(a) An item or Rs. 53 has been debited to a personal account as Rs 35
(b) A sum of Rs 100 written off as depreciation on furniture was not debited to depreciation account.
(c) The total of purchase book was added Rs. 60 short.
(d) A machine bought for Rs. 5,000 has been debited to purchase account.
(e) Sale of old machine for Rs. 500 to Mehwish has been entered in the Sales Book.
(f) Total of Return Outward book was Rs. 100 short.
(g) A sale of Rs.359 to R has been entered correctly in the Sales Book but credited to S account as Rs. 395
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(h) Repairs Rs. 680 to Motor Truck has been debited to Motor Vehicle account as Rs 860
(i) Cash received from John Rs. 300 has been debited to John’s a/c.
(j) Furniture purchased for Rs 3, 000 was not entered in the books.

INCOME AND EXPENDITURE ACCOUNT

Suleman keeps his books on single entry system. His statement of Assets and Liabilities as on 31 st December 2007 is
as follows:
Assets Rs. Liabilities Rs
Land and buildings 40, 000 Sundry creditors 130, 000
Furniture & fixtures 6, 000 Loan from money lender 113, 200
Plant & machinery 110, 000 Other liabilities 26, 800
Stock 18, 400
Sundry debtors 151, 000
Cash 16, 600
342, 000 270, 000
His drawings during the year amount to Rs.6000. land and building are to be depreciated by 2%, furniture and fixture
by 10% and plant and machinery by 10%. Sundry debtors are to be reduced by 2%. He has used Rs. 1600worth of
stock of his business for private purposes. During the year 2007 he sold some of his household furniture for Rs. 2000
and paid this into his business bank account. His capital at beginning of the year was Rs. 60,000. Draw up his
statement of profit and loss of the year ended 31st December 2007.

OR
Given below is the receipts and payments account of the mumtaz club for the year ending 31 st December 2010.
Rs Rs
Balance b/d 10, 250 Salaries 6, 000
Subscriptions: General expenses 750
2009 400 Drama expenses 4, 500
2010 20, 500 News papers etc. 1, 500
2011 600 Municipal taxes 400
Donations for prize fund 5, 400 Charity 3, 500
Proceeds of Drama tickets 9, 500 Investments 20, 000
Sale of waste papers 450 Electricity Charges 1, 450
Balance c/d 9, 000
47, 100 47, 100
Prepare the Club’s income and expenditure account for the year ended 31st December, 2010 and its Balance sheet as
on that date, after taking the following information into account:
(i). There are 500 members, each paying an annual subscription of Rs. 50, Rs. 500 being in arrears for 2009.
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(ii) Municipal taxes amounting to Rs. 400 per annum have been paid up to 31 st March 2011 and Rs. 500 for
salaries is outstanding.
(iii) Building stood in the books at Rs. 50, 000 and it s required to write off depreciation at 5 per cent.
(iv) Three per cent interest has accrued investments for five months.
OR
The following are the assets and liabilities of Mr. Qaiser at the end and beginning of the year 2011, under single
entry system
As at 31 st Dec 2011 As at 1st Jan 2011
Land and building 58, 800 60, 000
Plant and Machinery 120, 000 96, 000
Furniture and fixtures 16, 200 16, 000
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Stock in trade 56, 000 30, 000

Sundry debtors 310, 000 280, 000
Sundry creditors 150, 000 145, 000
Loan from bank 100, 000 120, 000
Other outstanding liabilities 80, 000 90, 000
Cash at bank 32, 000 36, 000

During the year Mr. Qaiser had withdrawn Rs. 6, 000 in cash and Rs. 3, 000 in goods from the business. He had also
introduced Rs.100, 000 as additional capital. A machine book value Rs. 25, 000 had been sold during the year for Rs.
30, 000 and new machine costing Rs.58, 000 was purchased in replacement. New furniture costing Rs.2, 000 was
purchased during the year.
Prepare a statement of profit and loss for the year ended December 31 2011

PARTNERSHIP
The partnership of A, B and C who are sharing profits and losses in the proportion of 4/9, 2/9 and 1/3 is dissolved on
1st April 2005. Their balance sheet of 31st March was as follows:
Assets Rs Liabilities Rs
Cash in hand 1, 500 Sundry creditors 4, 500
Cash at bank 2, 250 Bills payable 2, 050
Bills receivable 2,800 A’s loan 2, 000
Investments 12, 000 Capitals
A 34, 000
B 23, 000
C 1, 500
Debtors 15, 500 Reserve fund 6, 300
Stock 9, 700 Profit and loss 2, 250
Furniture 1, 850
Machinery 7, 500
Building 22, 500
75, 600 75,600
The assets realized – investment 15% less, Bills receivable and debtors Rs. 14, 100, Stock 25% less, Furniture Rs. 1,
025, Machinery Rs. 4, 300 and Buildings Rs. 13, 200. The cost of realization was Rs.300. All the liabilities were paid
off. C becomes bankrupt and Rs. 512 only is received from his estate full settlement of his indebtedness to his
indebtedness to the firm. Partners are paid off.
Show the realization account and capital accounts of the partners:
(i) When capitals of the partners are fixed amounts and
(ii) When the capitals are not filed.
OR
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X Y and Z carrying on business and sharing profits in the ratio of 3:2:1 respectively agreed to dissolve their
partnership firm on 31st December 2010. The balance sheet of the firm as on that date is as follows:
Assets Rs Liabilities Rs
Machinery 100, 000 Creditors
Stock 60, 000 Capital
Debtors 78, 000 X 100, 000
Cash at Bank 32, 000 Y 10, 000
Z 72, 000
270, 000 270, 000
X agreed to take over machinery at on agreed value of Rs. 80, 000. A sum of Rs. 63, 000 could be realized from
debtors and stock was sold for 46, 000. The creditors were satisfied by payment of Rs. 84,000. X agreed to bear all
expenses of dissolution. For this service X is to be paid Rs. 3, 000? Actual expenses amount to Rs.5, 000. Draw up a
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realization account, bank account and partner’s capital accounts assuming that all partners are solvent
OR
Ali and Babar are partners in a firm sharing profits and losses as All 3/4 and Babar 1/4 on January, 2011 their
position was as given below;
Assets Rs Liabilities Rs
Plant 80, 000 Capital Accounts:
Stock 20, 000 Ali 100, 000
Debtors 60, 000 Babar 60, 000
Cash at bank 40, 000 Sundry creditors 40,000
200, 000 200, 000
Usman is now to join the partnership. He agrees to pay the partners Rs. 40, 000 by way of goodwill and introduce 3/5
of the combined capital of the two existing partners after depreciating plant and stock at 20% and 10% respectively
and raising a reserve of 10% against sundry’ debtors. The new partner is to be allowed 114th share of the profits of
the firm.
You are asked to record the above transactions in the books of the firm and give the resultant Balance sheet of the
new firm.
OR
Sarmad and Bilal were partners in a firm sharing profits equally. Their business position on 30 th June 2009 was as
follows:
Assets Rs Liabilities Rs
Cash in hand 300 Sarmad’s capital 4,200
Stock 7,200 Bilal’s capital 3,200
Sundry debtors 12,400 Bank Overdraft 3,000
Furniture 1,200 Sundry creditors 12,000
Investments 1,300
It is agreed to take Shahid into partnership and to make the following adjustments:
(1) Bad debts to be/written off Rs. 3,200
(2) Value of furniture to be reduced to Rs.800
(3) Depreciate stock @ l0%
(4) Write off 20% on investments.
Shahid introduced Rs. 2000 as capital for his 1/3 share. Other partner’s capital should be adjusted according to new
partner’s capital.
Prepare necessary Journal entries regarding above arrangements. Also prepare important Ledger Accounts.
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STATISTICS & BUSINESS MATH

Question # 1
Weights of 175 male students at a university are given in the following frequency table:
Weight 118-126 127-135 136-144 145-153 154-162 163-171
Frequency 20 35 49 32 25 14
Calculate: Karl Pearson’s and Bowley’s Coefficient of skewness.
OR
Wages Rs. No. of workers’ Wages Rs No of workers
117-124 13 145-152 56
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124-131 17 152-159 73
131-138 33 159-166 81
138-145 47 166-173 65
173-180 55
180-187 40
187-194 20
Required: Calculate Arithmetic Mean, Harmonic Mean, Standard Deviation and Co-efficient of variation
OR
The mid-values of a frequency distribution are given as:
Mid value 115 125 135 145 155 165 175 185 195
Frequency 6 25 48 72 116 60 38 22 2
Calculate:
(i) A.M
(ii) Mode
(iii) Coefficient of Skewness

Question # 2
X: 16, 72, 73, 63. 83. 80. 66, 66, 74, 62
Y: 40, 52, 43, 49, 61, 58, 44, 58, 50, 45
Required: Calculate coefficient of correlation and comment on the answers.
OR
The number of units produced by a process (x) and the cost of producing unit (y) were made as:
Find:
(i) The coefficient of correlation
(ii) The regression equation of y on x

Question # 3
Test for Association
A1 A2 A3 A4
B1 20 15 30
B2 30 1B 35
B3 35 20 40
(Tabulated value .of chi-square for 4 degrees of freedom at 5% level of significance = 9.488)
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OR
Test independence of two classifications in the following contingency table at 5% level of significance:
Attributes A1 A2 A3 A4
B1 42 72 72 72
B2 33 62 82 64
B3 37 121 93 90
(The table value of Chi-Square is 12.59)
OR
A survey of 1600 families was conducted to observe that high and low income people send their children to private
and government school. The following results were obtained:
School
Income Private Government Total
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High 494 506 1, 000

Low 162 438 600
Total 656 944 1, 600
Test whether income and type of school are independent at 5% level of significance. (Table value is 3.84)

Question # 4
A population consists of six numbers 3, 6. 9. 12, 15, and 18. Consider all possible samples of size three numbers,
which can be drawn without replacement from this population.
Find:
(i) The mean of the population
(ii) The standard deviation of the population.
(iii) The mean of the sampling distribution of the means.
(iv) The standard error

Question # 5
Construct index no for 2002 from the following data taking 2000 as base using
(i) Laspeyre’s Index Number
(ii) Paasche’s Index Number
(iii) Fisher’s Index Number.
Commodity 2000 2002
A Price Quaintly Price Quantity
B 5 100 6 120
C 7 120 10 80
D 10 80 12 80
E 4 50 5 60
F 8 70 8 80
OR

The following data gives the prices and quantities of various commodities for the year 1995 and 2002:
Prices (Rs. Per quintal) Quantities (1000 of quintals)
Commodity Prices (Rs. Per Quintal) Quantities (1000 of Quintals)
1995 2002 1995 2002
A 60 80 270 290
B 40 45 125 140
C 20 25 130 140
D 55 70 270 350
Calculate weighted index number of prices for the year 2002 by taking the year 1995 as base year and using formulae
recommended by Laspeyre, Fisher, Paache’s and Marshall.
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OR
Construct index number of Prices with the help of following data by:
(a) Laspeyr’s
(b) Paasche’s
(c) Fisher’s
(d) Marshall Edgeworth Formulae
Commodity Base Year Current Year
Price Quantity Price Quantity
A 6 140 8 150
B 10 160 12 180
C 16 80 20 110
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D 20 100 24 120
OR
Compute index number for 2012 from the following taking 2008 as the base and using formulae recommended by:
(i) Lasperyre’s
(ii) Paasche’s
(iii) Marshall’s and
(iv) Fisher’s
A B C
Year Price Qty Price Qty Price Qty
2008 5.0 80 3.6 90 3.1 20
2012 8.7 100 5.7 95 4.6 30

Question # 6
If
Calculate: (i) A – 3B (ii) AB

Question # 7
Solve the following simultaneous equations
2x + y = – 7
3x+2y = -12
OR
Solve the quadratic equation 6×2 – 5x – 6 =0
OR
Solve the following: X2 + 5x = 50
OR
Solve for X the equation:

OR
Solve the following system of equations:
9x + 15y = 123
15x + 93y = 201
OR
Solve for x and y:
4x – 3y = 10
5x -7y = 6
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Question # 8
The 54 th and 4th terms of an A.P are -61 and 64 respectively. Show that the common difference is – 2.5 and 23 term is
16.5.
OR
The first term, of an AP is 5, the last term 45 and the sum 400. Find number of terms and common difference in the
series.
OR
Show that the sum of the series
0.53 + 0.0053 + — 53 + 0.000053 +…… to infinity is 53/99
OR
Show that the sum of geometric series of 6 terms;
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1/3, -1/9, 1/27, -1/81 …………… is 182/729

Question # 9
Find out the compound amount and compound interest at the end of 3 years on a sum of Rs 20, 000, borrowed at 6 %
compounded annually
OR
A 90 days Rs. 4, 000. 7% interest bearing note dated April 4, was discounted on May 4, at a discount rate of 8%.
What was the discounted value of the note? (Take 360 days in the year)
OR
Mohsin had it note tor Rs. 1.5000 with an interest rate of 6%. The note an, dated January 12, 2003 and maturity date
was 90 days after date On January 27, 2003, he took the note to his bank, loch discounted it at a discount rate of 7%.
How much .did he receive? (Take 360 days in the year)
OR
A property changed hands 3 times and at each time the loss to the seller was 10%. If in the last transaction the loss
was Rs. 202.50. Find out the original value of the property.
OR
The difference between the simple and compound interest on a certain sum is Rs. 31 for three years at 10% p.a. Find
out the sum.
OR
A company offers two alternatives for the payment of salary for the post of a high executive.
Either one may receive Rs.2,40, 000 per year or Rs. 100 in the first month, Rs.200 in the second month, Rs.400 in
the third month and so on. Which of the two alternatives should he prefer?
OR
Find the compound interest on Rs.4500 in 3 years. If the rate of interest is 4% for the 1 st year, 5% for the 2ndyear and
6% for the 3rd year
OR
Find the accumulated value of Rs. 5, 000 invested at the end of each quarter for 5 years at 8% compounded quarterly.