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Business Mathematics

Major Assignment

QUESTION 1

BASIC ARITHMETIC

Order of Operations (BODMAS)


Show all your calculation to earn full marks.

Solve the following expressions [2 + 2 + 2 + 2 + 2 = 10 Marks]

a) 7 + 2(6 × 52 + 3)3 ______________________________________________


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b) (3 – 2 – 5 * 5 )2 + (25 ÷ 5 * 1)3
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c) 2 + 3 – 5 * 4 – 3 + 8
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d) 2 + 3 + (8 + 2) ÷ 5 *22 - 3
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e) (25 * 5) ÷ 5 – 5 -5
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QUESTION 2

LOGARITHM

Show all your calculation to earn full marks.

A. Use the Logarithm Rule & Property to expend the following logs.[2 +2 +2 = 6 marks]

i. Log(3pq2) ____________________________________________________
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ii. Log(A3B4 ) ____________________________________________________
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iii. log ) ____________________________________________________

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Business Mathematics
Major Assignment

B. Write the following in logarithm forms [ 2 + 2 + 2 = 6 Marks]

(i) 32 _____________________________________________________________
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(ii) 52 ______________________________________________________________
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(iii) 4-1 _____________________________________________________________


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QUESTION 3

ALGEBRA

(A) Simultaneous Equations

Solve the following equations simultaneously using only Elimination Method:

Show all your calculation to earn full marks. [3 + 3 = 6 marks]

(i) 3x – 4y = 1 (ii). 3x + 2y = - 4
2x + 3y = 12 2x + 5y = 1
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Business Mathematics
Major Assignment

(B) Point Slope Form

Find the gradient and equation of a straight line through the point (1, 0) and (2, 2) and also
sketch its graph. [2 + 2 +2 =6 Marks]

(i) Gradient:
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(ii) Equation:
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(iii) Graph:
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QUESTION 4

Scientific Notations
A. Convert the following Decimal Numbers into Scientific Notations/Standard Forms.
[2 +2 + 2 = 6 Marks]

i. 0.00000123456 _________________________________________________
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ii. 1234.0000123 _________________________________________________


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iii. 1.002334 _________________________________________________


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Business Mathematics
Major Assignment

B. Convert the following Scientific Notations/Standard Forms into Decimal Numbers.


[2 +2 + 2 =6 marks]

i. 1.23456 * 10-3 ________________________________________________


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ii. 1.23456 * 103 ________________________________________________
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iii. 3.00234 * 104 ________________________________________________
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QUESTION 5

Word Problems

Read and understand the problem and come up with a correct mathematical equation and
solve it.Marks are awarded to correct formulation of equation and calculation.

[3 + 2 = 5 Marks]

i. Margaret bought 5 laptops and 3 PC which cost her K8, 000.00. And Maria bought 3
Laptops and 3 PC which cost her K6, 000.00. Find the cost of each laptop and PC for
Margaret and Maria.

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ii. Paul works with Oil Search Ltd and his fortnightly salary is K1, 800, which is 500 kina
more than 3 times what Joseph’s salary is. How much is Joseph’s salary?
[3 + 2 = 5 Marks]
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Business Mathematics
Major Assignment

QUESTION 6

Percentage questions

Read the table below carefully and calculate by Converting to and from and fill the spaces
with correct answers. [2 + 2 + 2 + 2 +2 +2 = 12 Marks]

Fractions Decimals Percentages


1/2
0.75
25%

QUESTION 7

Commission

Please show all calculations to earn full marks. [1 + 2 = 3 Marks]

Daniel works at a nearby electronics store. He makes a commission of 15% on everything


he sells. If he sells a laptop for K293.00 kina, how much money does Daniel make in
commission?

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QUESTION 8

Tax

Use the following Personal Income Tax rates for the residents table to answer the following
questions.
Show all the correct formulas to earn full marks. [2 + 2 = 4 Marks]

Personal Income Tax Rates for residents

Taxable Salary/Wage Tax Thereon Rate of Tax on


Income (K) Range (K) Excess (%)
7,000 7,000 – Nil 22
17,999.99
18,000 18,000 – 2420 30
32,999.99
33,000 33,000 – 6920 35
69,999.99
70,000 70,000 – 19870 40
249,999.99
250,000 >250,000 91,870 42

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Business Mathematics
Major Assignment

Find the personal income tax payable of the following taxable income:

a) K350,000
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b) K6,700
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QUESTION 9

Compound Interest

Use appropriate formulas to calculate and answer the following problems to earn full marks:
. [3 + 3 = 6 marks]

An amount of K30, 000 was invested for 5 years with an interest bearing account with BSP
which pays an annual interest rate of 18%, compounded quarterly.

Find:

(a) The accumulation factor after 4 Years


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(b) The accumulation value after 4 years


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Website: www.iti.ac.pg email: enquires@iti.ac.pg Ph: +675 – 3202800


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Business Mathematics
Major Assignment

QUESTION 10

The following table shows the marks scored by several students. Use the table and answer the
following questions. [1 + 1 + 1 + 1 + 2 +3 = 9 Marks]

STUDENT MARKS
Mary 35
Jane 25
Paul 35
Peter 50
Amos 55
Greg 60
Rebecca 35

Calculate the:

(a). Mean of the mark:

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(b). Mode of the mark:

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(c). Median of the mark:

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(d). Range of the mark:

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(e). Variance of the mark:

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Business Mathematics
Major Assignment

(f). Standard Deviation of the mark:

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QUESTION 11

Annuities

Read and understand the question and Use appropriate formulas to calculate and answer
the following problems to earn full marks: [5 marks]

(a). Marry works with Price Water Coopers house as a graduate accountant. She wish to
take her master’s degree at the university after 3 years. The two years master degree
would cost her K10, 000.She is planning to save some money in her bank account which
attracts 10% interest per annum compounded quarterly.

How much will Marry has to deposit in her bank account each quarterly to have K10, 000
after three years?

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Website: www.iti.ac.pg email: enquires@iti.ac.pg Ph: +675 – 3202800


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Business Mathematics
Major Assignment

QUESTION 12

Amortization

Read and understand the question and Use appropriate formulas to calculate and answer
the following problems to earn full marks. [5 Marks]

(a). Peter undertook a K100, 000 mortgage from Bank South Pacific to secure new
premises. The bank charges an annual interest rate of 25% compounded quarterly over 5
years.

What quarterly payments will Peter have to make on the loan?

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All the best!

Website: www.iti.ac.pg email: enquires@iti.ac.pg Ph: +675 – 3202800


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