BAMA 1101 Higher College of Technology Business Mathematics Questions All requirements in the file attached HIGHER COLLEGE OF TECHNOLOGY DEPARTMENT: BUSINE

BAMA 1101 Higher College of Technology Business Mathematics Questions All requirements in the file attached HIGHER COLLEGE OF TECHNOLOGY
DEPARTMENT: BUSINESS STUDIES
Final Examination: Assignment Based Assessment
Semester: II
A. Y.: 2019 / 2020
Start Date: Friday, 29 May
Time: 03.00 PM
Due Date: Sunday, 31 May
Time: 03.00 PM
Student Name
Student ID
Specialization
Section
01 to 11
Level
DIPLOMA FIRST YEAR
Course Name
BUSINESS MATHEMATICS
Course Code
BAMA1101
For official Use Only
Question No.
Max. Marks
1
Obtained Marks
Question No.
Max. Marks
5
1
5
2
5
2
5
3
5
3
5
4
5
4
5
5
5
5
5
6
5
6
5
7
5
7
5
8
5
8
5
9
5
9
5
10
5
10
5
Grand Total Marks
50
Obtained Marks
50
First Marker:
Second Marker:
Date:
Date:
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Guidelines for Students to Submit the Assignment:
1)
The final assessment for semester 2, 2019-20 will be done through comprehensive assignment
for a maximum of 50 marks. The schedule of the final assessment is available in the college website.
https://www.hct.edu.om/about/the-college/announcements/final-assessment-timetable-041620
2)
All the students are expected to have only one assignment at one time. In case, if the students
have more than one assignment on the same day, please report to the exam committee through the
following mail id. exam.bus@hct.edu.om as soon as possible.
3)
All students are given 48 hours to complete and submit each assignment from the day, date and
time the assignment is uploaded. Students are advised not to wait till the last moment of the deadline
to submit the assignment.
4)
The students can check the assignment anytime and any number of times from the opening of
the assignment. The answer to the assignment need to be uploaded in e-learning within 48 hours.
5)
The answer to the assignment can be uploaded only one time. No requests for resubmission of
the assignment will be entertained.
6)
The students may contact the following mail Ids if they face any difficulties while related to
final assignment.
For Academic related support :
Business Courses
anand.kalimani@hct.edu.om
karri.krishna@hct.edu.om
For Technical Writing 1
ramil-ecot@hct.edu.om
For Technical Writing 2
khulood.aiadi@hct.edu.om
For Technical Communication
jocelyn.balili@hct.edu.om
For issues related to e-mail
office365support@hct.edu.om
accounts and Microsoft Teams
Any issues related to E-Learning
support.elearning@hct.edu.om
Moodle
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Any other IT Troubleshooting
7)
helpdesk2@hct.edu.om
Students may contact their respective lecturer through college email (within the 48-hour period
given) if they have any doubts and clarifications on the assignments.
8)
Students should be aware that this assignment is an independent assessment. Students are not
allowed to get help from any other person during the assessment period.
9)
Students assignment will be checked for plagiarism through Turnitin software. This assignment
will be assessed as per the College Assessment Policy. Student will be investigated in case of
plagiarism as per the College policy and procedures. The maximum acceptable similarity index is
25%.
10) In case the students face any technical issues regarding the submission of assignment, the
answer to the assignment can be mailed to the concerned lecturer within the 48-hour period using
college email.
11) Any assignment submitted after the 48-hour period will not be considered for evaluation.
12) The assignment should be submitted only with the file in MS Word document. No other format is
acceptable at all (e.g. pictures, JPEG, PDF, etc).
13) The students need to answer the assignment in the prescribed number of words as mentioned in
the assignment.
14) The students need to follow the following format while preparing the assignment :
Font Style: Times New Roman
Font Size: 12 point for body and 14 point for Headings
Line Spacing: 1.5
Margin: 2.54cm (One inch) on all the sides
Page Number : At the bottom right hand corner of each page
Colour: All words should be in black colour
15) Students who will fail to submit their assignment as per the deadline given are required to make
an online appeal along with the valid excuses as the guidelines which will be announced through the
college website or e-learning portal within three days from the date of submission deadline.
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ANSWER ALL THE QUESTIONS, SHOW ALL CALCULATIONS, WORKING NOTES AND
EXPLANATION (EACH QUESTION WILL CARRY 05 MARKS)
Q1: Ms. Maryam Al Rawabi had a sum of money and she decided this money to distribute
among Abdul, Ibrahim and Maria in the ratio 2:3:5.
a) If Maria got 750 OMR, how much amount Abdul and Ibrahim will receive? (02 Marks)
b) If Ibrahim gets 150 OMR, how much amount Maria and Abdul will receive? (02 Marks)
c) If the ratio is 1:1:1, discuss how much money each will get?
(01 Mark)
Q2: Mr. Mohammed is interested to buy the new Samsung mobile phone. Extra Electronics
sells Samsung mobile phones which is marked up at 40% on the cost price and also offers a
discount of 30% on the selling price.
a) If Mohammed buys that Samsung mobile phone, Find the profit or loss (in percentage)
made by Extra Electronics.
b) What will happen if the seller doesn’t mark up the price? Discuss in brief
(3+2=5 Marks)
Q3: Oman Manufacturing Company a handicraft manufacturer printed the price of its goods
as RO 120 per handicraft. Manufacturer allowed a discount of 30% to the wholesaler who in
his turn allowed a discount of 20% on the printed price to the retailer. If the prescribed rate of
VAT on the goods is 15% and the retailer sells it to the consumer at the printed price then:
a) Find the value added tax paid by the wholesaler and the retailer.
b) Find the price including value added tax paid by the customer to buy the handicraft.
c) Find the amount of tax collected by the government from wholesaler and retailer.
d) If wholesaler had sold the product at printed price to retailer and no discount has been
offered, retailer would have made more profit?. Discuss with reasons
(1+2+1+1= 5 Marks)
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Q4: Mr. Iqbal Al Hinai works in Alibaba Digital Store, Muscat. He is paid 4.5 OMR per hour.
Ms. Rawan works in Omantel Retail Store and she is paid 5 OMR per hour and both of them
are eligible for overtime (time-and-a-half pay). Both are supposed to work minimum 7 hours
per day and 35 hours per week. If they work less than 7 hrs per day or 35 hrs per week, they
will be paid 4 OMR per hour for that week.
Last month Mr. Iqbal worked for 37 hrs, 38 hrs 41 hrs and 32 hrs per week while Ms. Rawan
worked for 34 hrs, 32 hrs, 31 hrs and 35 hrs per week.
a) How much gross pay Mr. Iqbal and Ms. Rawan would receive for the last month?
b) If Ms. Rawan had been paid monthly salary, she would have earned more. Give reasons
to your answer.
(4+1=5 Marks)
Q5: Oman Flour mills purchased an equipment and it will be depreciated in such a way that
the value of equipment at the end of any year is 90% of the value at the beginning of the year.
The actual cost of the machine is OMR 20,000.
a) What will be the scrap value of the equipment if the estimated useful life of the
equipment is 6 years?
b) After 6 years, the company got an offer to sell the scrap at a value of OMR 8,000. Shall
company accept the offer? Discuss and give reasons to your answer.
(3+2=5 Marks)
Q6: In the year 2020 you have completed your graduation with HRM specialization from HCT
College and joined as an executive in the department of HRM in Petroleum Development
Oman (PDO) with a salary of OMR 1650 per month. As per the PDO norms you will be retired
from your employment in the year 2060. In order to lead a peaceful and secured life after your
retirement, it is estimated that you should need a cash balance of OMR 200,000.
a) How much money do you need to deposit now, if money compounds monthly at 8%
interest rate?
b) How much you need to deposit if your requirement is OMR 250,000 and you retire in
the year 2065?
(3+2=5 Marks)
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Q7: Mr. Yonus had a sum of money and he wants to double them in a period of 5 ½ years. He
approached many banks and each bank is offering different interest rates to make that sum
double. The interest rates offered by various banks are Bank Muscat 25%, National Bank of
Oman 10%, Oman Arab Bank 15% and HSBC 20%.
a) At what rate of simple interest the sum will be doubled as per your calculation?
b) Which bank interest rate is matching with your calculation?
c) Considering the present bank interest rate, how many years it will take to double your
amount? Discuss with reason
(3+1+1=5 Marks)
Q8: Goodwill Electronics Company, a mobile charger manufacturing company manufactures
4000 chargers per month and company incurs material cost RO 5 per unit, cost of labor RO 3
per unit and other manufacturing overheads RO 2 per unit. Goodwill electronics pays RO 2000
per month as a rent. Company adds 20% profit on total cost and distributes the chargers to
retailers.
a) What would be the total cost of producing 4000 chargers?
b) Al Maha Retail Stores recently bought 4000 chargers from the Goodwill Electronics.
How much amount Al Maha Retail Store paid to buy the 4000 chargers?
c) What would be the components of other manufacturing overheads? Describe with
examples
(3+1+1=5 Marks)
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Q9: Mr. Jasem has 30 fruits, 18 of them are apples and 12 are oranges. His friend Waseem has
20 fruits and Mohammed has 30 fruits, all of them are either apples or oranges. Assume that
the ratio of the apples to oranges is the same for Mohammed, Jasem and Waseem.
(5Q*1M= 5 Marks)
a) Find the number of oranges with Waseem and Mohammed
b) Find total number of Apples with all 03 friends (Jasem, Waseem and Mohammed)
c) Find how many more oranges Jasem has than Waseem.
d) If ratio of apples to oranges is 2:1, how many apples Jasem will have?
e) If Jasem wants to sell all the fruits at 60 OMR, what would be selling price of 01 apple?
Q10: Gulf Mushroom Products Company purchased a machine for OMR 10,000 for which
depreciation will be measured as per diminishing balance method (WDV). Depreciation is
calculated at 8% per annum for first 3 years and after that due to change in the accounting
standards the rate of depreciation is changed to 10% per annum for next 2 years.
a) What will be the book value of the machine after 5 years
b) The accounts department informed you that book value of the machine after 5 years
will be OMR 4,000. Do you agree with the value specified by accounting department?
c) Is depreciation good or bad for the business? Discuss with reasons
(3+1+1=5 Marks)
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