Business Math

Quantitative Techniques
Max Marks : 40 Max Time : 75 mins

SET A
Instructions :
1. This question paper contains three parts, all parts are compulsory
2. The marks distribution is as follows:
Section A : 10 marks
Section B : 16 marks
Section C : 14 marks
Section A
1. If the arithmetic mean of x, x + 3, x + 6, x + 9 and x + 12 is 10, then x = ?

a. 1
b. 2
c. 6
d. 4 Ans
2. If 35 is removed from the data, 30, 34, 35, 36, 37, 38, 39, 40 then the median increases by:
a. 0.5 Ans
b. 2
c. 1.5
d. 1
3. A computer salesman earns a 5.5% commission on each sale. If he sells 5 computers in one
week for a total of $15,500, how much commission does he earn?
a. 752.50
b. 852.50 Ans
c. 952.50
d. 1052.50
4. The Chen family sold their house through a real estate agent for $330,000. If the real estate
agent gets a 4.5% commission, how much will the Chen family have to pay her?
a. 14800
b. 14825
c. 14850Ans
d. 14875
5. When on holiday in Spain, Sandy sees a pair of jeans priced at €65. Sandy knows that he gets
€13 for £10. What is the price of the jeans in pounds?
a. £6.50
b. £50 Ans
c. £845
d. £645
6. . Before flying to Japan Viv exchanges £400. She is given 76480 Yen. On arrival she changes
a further £400 and is given 75800 Yen. How much less does £1 buy in Japan?
a. 1.7 Yen
b. 189.5 Yen
c. 191.2 YenAns
d. None of the above
7.A manufacturer sells a tent to its wholesalers for $59.95. Wholesalers take a markup on selling
price of 15% and sell to retailers who take a markup on selling price of 45%. How much does
this tent cost you?
a. 100.00
b. 89.96
c. 99.96Ans
d. 67.85
8.Bev Smith makes hand-braided mats, at a cost of $40 per mat, to sell at local craft shows. She
has 30 mats on hand for the next show, and expects to sell them all for a total of $1,800. What is
Bev’s markup per mat in dollar and percentage terms?
a. $20 50%Ans
b. $50 20%
c. $40 40%
d. $23 32%
9. Find the amount owed on an investment of $10,000 into a money market account that pays a
simple interest rate of 1.75% over a 30 week period.
a. $10131.25Ans
b. $10111.00
c. $10100.95
d. $10500.00
10. Mr. Albertson plans to place his money in a certificate of deposit that matures in three years.
The principal is $10,000 and 5% interest is earned in first year,6% in second year and 7% in third
year. He wants to calculate how much interest he will earn in those three Years.
a. 1600Ans
b. 1800
c. 2000
d. 2200
Section B (Attempt any four)
1. The following table represents the marks obtained by a batch of 10 students in certain
class tests in Physics and chemistry
Serial No 1 2 3 4 5 6 7 8 9 10
Marks(Physics) 28 35 46 47 60 30 32 52 55 53
Marks(Chemistry) 72 32 80 43 84 25 31 24 45 57
Indicate in which subject is the level of knowledge higher? Also justify your answer.
2. Construct a frequency distribution table for the following weights (in gm) of 30 oranges
using the equal class intervals, one of them is 40-45 (45 not included). The weights are:
31, 41, 46, 33, 44, 51, 56, 63, 71, 71, 62, 63, 54, 53, 51, 43, 36, 38, 54, 56, 66, 71, 74, 75,
46, 47, 59, 60, 61, 63.
a. What is the class mark of the class intervals 50-55?
b. What is the range of the above weights?
c. How many class intervals are there?
d. Which class interval has the lowest frequency?
3. The following is the average amount of dollars each major airlines spends per passenger on
food
American 7.41
United 7.24
North west 5.15
TWA 5.09
Delta 4.61
Continental 2.77
US Air 2.68
American West 2.00
South West 0.14
a. What are the mean and median cost per passenger?
b. Which would be a better figure to use for a new airline in developing its business
plan?
4. $1200 is placed in an account at 4% compounded annually for 2 years. It is

then withdrawn at the end of the two years and placed in another bank at the
rate of 5% compounded annually for 4 years. What is the balance in the second account after the
4 years.
5. Pradip has taken loan of Rs 10000 from a bank at compound interest charging 5% pa for the 1st
Year,10% per annum for the 2nd year and 20% per annum for the 3 rd Year. What is the total
interest paid by Pradip to the bank after 3 years.
6. Cronin Auto Parts bought a mechanic’s tool set for $175 each, less 40%. Cronin marked the
tool set to sell at $200. At a sale, the tool set was sold for 20% off the marked price.
a. What was the invoice price of the tool set?
b. What was the sale price?
c. On each set sold at the sale, what was the amount the store made as markup?
d. The markup was equal to what percent of the selling price, rounded to the nearest
percent?
7. The snowboard has a cost of $158.20, expenses of $45.70, and profit off $36.00
a. What is the regular unit selling price?
b. What is the markup amount?
c. What is the markup on cost percentage?
d. What is the markup on selling price percentage?
8. Jenny has $500US to change to $NZ. Bank A offers an exchange rate of $1NZ=$0.7454US
and Charges 3% commission. Bank B offers an exchange rate of $1NZ=0.7448US and charges a
commission of 2.85%. Which bank would give her the best deal?
Section C (Attempt any two)

1. The Instant Paper Clip Office Supply Company sells and delivers office supplies to
companies, schools, and agencies within a 50-mile radius of its warehouse. The office
supply business is competitive, and the ability to deliver orders promptly is a big factor in
getting new customers and maintaining old ones. (Offices typically order not when they
run low on supplies, but when they completely run out. As a result, they need their orders
immediately.) The manager of the company wants to be certain that enough drivers and
vehicles are available to deliver orders promptly and that they have adequate inventory in
stock. Therefore, the manager wants to be able to forecast the demand for deliveries
during the next month. From the records of previous orders, management has
accumulated the following data for the past 10 months:
a. Compute the monthly demand forecast for April through November using a 3-
month moving average.
b. Compute the monthly demand forecast for June through November using a 5-
month moving average.
2. A car dealership acquires used Ford for $25,000 per unit . Its expenses on the used vehicle are
12% of the cost, and it prices the vehicle with 35% markup on cost percentage. After 1 months,
if the car does not sell, it marks the cut down by 15%.
a.
a.
a.
a.
Wh
at are the expenses?
b. What is the amount of the markup?
c. What is the regular setting price?
d. What is the markup on selling price percentage?
e. What is the sale price?
f. What is the amount of the mark down?
g. What is the profit and if the car is sold at the sale price?
3. Use the exchange rates in the table to answer the below questions –
USD EURO INR CHF

USD 1 1.17 0.014 1.03
EURO 0.86 1 0.012 0.89
INR 71.69 83.62 1 74.29
CHF 0.97 1.13 0.014 1
a. Bob has 20 USD. The video game he wants to buy costs 20 EURO. Does he have enough
money to buy the game? If not, how much more USD does he need?
b. Mary has EURO 50. She wants to purchase jeans for USD 25 and a shirt for USD 20.
After her purchases, how many euro will she have left?
c. William is going on holiday from Switzerland to USA. Before leaving, he changes 3000
Swiss CHF into American dollars (USD). There is a 2 % commission charge. How much
USD will William get?
d. Rahul went on holiday to Italy. While on holiday, he went shopping. He bought a belt
and a hat. The belt cost 25 EURO. The hat cost 15 EURO. He paid the price by using his
INR credit card. What the amount would be reflected in Rahul’s credit card statement?
e. Mike purchases a painting in Delhi for INR 105,000. He adds 20% to the purchase price
and sells the painting in US. What is the selling price in USD?
f. Stephen imports cars from USA. He sells them in the France. He has just bought a car in
the USA costing USD 25,000. It cost him EURO 900 to import the car to France. Stephen
wants to make a profit of 10% on his total costs. Work out the amount that Stephen must
sell the car for in France?
g. Which currency is the highest valued currency?

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Quantitative Techniques

Max Marks : 40 Max Time : 75 mins

1. If the arithmetic mean of x, x + 3, x + 6, x + 9 and x + 12 is 10, then x = ?

Section B (Attempt any four)

4. $1200 is placed in an account at 4% compounded annually for 2 years. It is

Section C (Attempt any two)

USD EURO INR CHF

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