BAMA 1101 Modern College of Business and Science Business Mathematics Exam Questions juhaina – BUSINESS MATHEMATICSsee file attachedsolve in word……….

BAMA 1101 Modern College of Business and Science Business Mathematics Exam Questions juhaina – BUSINESS MATHEMATICSsee file attachedsolve in word…………………………………….. 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:
Guidelines for Students to Submit the Assignment:
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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
Any other IT Troubleshooting
helpdesk2@hct.edu.om
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7)
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.
ANSWER ALL THE QUESTIONS, SHOW ALL CALCULATIONS, WORKING NOTES
AND EXPLANATION (EACH QUESTION WILL CARRY 05 MARKS)
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Q1: Mr. Salim a Wholesaler buys a product from the Gulf manufacturing company at RO 850
and pays VAT at the prescribed rate of 6%. Muscat Trading, a retailer buys a product from
the wholesaler at RO 1000 and the wholesaler charges VAT at the prescribed rate of 6%. The
retailer fixes the price at RO 1200 and charges VAT at the same rate.
Mr. Khalid buys the product from the Muscat Trading.
(5Q*1M= 5 Marks)
a) What is the price including VAT that Mr. Khalid has to pay to buy the Product?
b) Find out amount of input tax and output tax for the retailer and wholesaler.
c) How much VAT does the retailer pay to the government?
d) What do you mean by VAT? Discuss
e) How do the venders submit VAT to the government? Discuss the process
Q2: Mr. Ahmed living in Muscat borrowed a sum of OMR 10,000 from a Bank Muscat at a
certain rate of interest to pay the price of newly bought car. After one year, again he borrowed
another sum of OMR 10,000 from Bank Muscat for his daughter’s marriage at 1% less than
the first interest rate.
a) If he paid total interest of OMR 1,500 in 02 years, find the two interest rates at which he
borrowed the two amounts.
b) If he had borrowed OMR 20,000 at 6% interest per annum in the beginning of first
year, what will be amount of interest he would have paid in 02 years?
c) Mr. Ahmed borrowed money when needed. Discuss analytically
(2+2+1=5 Marks)
Q3: Mr. Yousuf Al Bulushi had a sum of money and he wants to double them in a period of 7
years. He approached many banks and each bank is offering different interest rates to make
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that sum double. The interest rates offered by various banks are Bank Muscat 8%, National
Bank of Oman 9 %, Oman Arab Bank 7% and Bank Dhofar 6%.
a) At what rate of simple interest the sum will be doubled as per your calculation?
b) Find out the amount if Mr. Yousuf invests 10000 OMR in the Bank Dhofar for 7 years.
c) Investment in a bank deposit is a good option. Discuss analytically
(2+2+1=5 Marks)
Q4: Safa Foods LLC purchased a machine being depreciated in such a way that the value of
the machine at the end of any year is 90% of the value at the beginning of the year. The cost of
the machine is OMR 40,000 and it was sold eventually as waste material for OMR 19,000 at the
end of its life.
a) Measure the number of years the machine was used by the company.
b) If the company buys a new machine in place of old machine after 12 years, then how
many years the company was operated without the old machine?
c) Company was operated without machine for few years. Discuss the company loss
critically
(3+1+1=5 Marks)
Q5: Rahma manufacturing LLC is a leading inverter manufacturing company in Oman. Mr.
Zuwaid, who has recently joined as a production supervisor would like to calculate the total
cost of producing 1000 invertors in a month. Records show that material cost of producing one
inverter is RO 56 while labor cost per unit is RO 6 and other manufacturing cost is also RO 6
per unit. The company pays RO 4000 per month as a rent and Mr. Zuwaid found that there
are no other expenses.
a) What will be the company’s total cost of producing 1000 inverters
b) Al Maha electronics, a retailer buys 1000 inverters and Rahma LLC adds 20% as a rate
of mark up on cost, what will be total purchasing price for Al Maha electronics?
c) Why do companies add mark up on cost? Discuss with reasons
(2+2+1=5 Marks)
Q6: Dr. Maryam Al Amri, a professional medical doctor has recently bought the new clinic.
During Ramadan offer, she went to the Nesto Electronics to buy the Air Conditioner for her
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clinic. The Nesto has wide range of AC’s but she selects Samsung V5.4 model. The product was
priced RO 270 and Nesto was offering 20 % discount on the selling price.
During the
conversation with Nesto Manager, Dr. Maryam came to know that Nesto had bought this AC
from the manufacturer for RO 200.
a) What is the Nesto’s markup rate on cost and how much is the markup amount?
b) What is the amount of discount Nesto is offering?
c) How much amount Dr. Maryam has to pay to buy the AC?
d) If Nesto’s rate of markup is 20% on cost, what would be the selling price of the AC?
e) Does discount encourages more sales? Discuss critically
(5Q*1M=5 Marks)
Q7:
Alfatech LLC, a leading battery manufacturing company has 04 employees in the
production department named Mohammed, Khalid, Salim and Ahmed. Alfatech pays RO 5
per hour rate, for 40 hours per week. According to the agreement, they all are eligible for
overtime (time-and-a-half pay).
As per company records of the last month, working hours of workers is as per below:
Mohammed 189 hours, Khalid 191 hours, Salim 160 hours and Ahmed worked for 168 hours.
a) How much gross pay all four will receive?
b) Do you agree with companies 40 hours per week working hour’s policy? Give reasons to
your answer
c) What do you mean by overtime? Do you agree with more pay for overtime working
hours? Discuss analytically.
(3+1+1=5 Marks)
Q8: In the beginning of 2015, 04 college friends Ms. Fatma, Ms. Safiya, Ms. Hana and Ms.
Jannat started a Coffee Shop in Muscat. They decided to invest 4000 OMR, 5000 OMR 6000
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OMR and 7000 OMR respectively as a capital and decided to share the profit or loss in the
ratio of capital they have invested. First year restaurant incurred a loss of 2200 OMR , second
year they made a profit of 1100 OMR , third year again they suffered a loss of 1100 OMR and
fourth year they made a profit of 3300 OMR.
a) What is the ratio of sharing profit or loss between them?
b) How will you distribute the first 04 year loss and profit between them?
c) Considering the inconsistency in the profit, they decided to close the coffee shop. Discuss
this decision critically.
(1+2+2=5 Marks)
Q9: Mr. Masaud, a retailer sells a Solar System whose listed price is RO 1500 and charges
VAT at the prescribed rate of 12% from the consumer.
a) If the retailer pays a VAT of RO 36 to the government, what was the price inclusive of
tax at which the retailer bought the Solar System from the wholesaler?
b) If VAT is added, price of the product gets increased and consumer needs to pay more.
Discuss critically
c) The implementation of VAT decreases the seller’s profit. Discuss analytically
(3+1+1=5 Marks)
Q10: Gulf Agrotech Ltd. purchases a machinery which costs RO 40,000. The useful life of the
machine is 6 years and the annual rate of depreciation is 10% per annum, depreciation being
calculated on diminishing balance method (WDV). After 6 years, company decided to buy the
new advanced machine for RO 60,000. The machine supplier agrees to buy the old machine at
the scrap value.
a) How much amount Gulf Agrotech needs to pay to buy the new machine in exchange of
the old machine scrap?
b) Depreciation is an expense for the business organization. Discuss with reasons
(4+1=5 Marks)
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