BAMA 1101 Modern College of Business and Science Business Mathematics Questions BUSINESS MATHEMATICSsee file attachedanswers should be in word file……..

BAMA 1101 Modern College of Business and Science Business Mathematics Questions BUSINESS MATHEMATICSsee file attachedanswers should be in word file………………………….. 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
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First Marker:
Second Marker:
Date:
Date:
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
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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
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: HP Electronics Ltd company specializes in the manufacturing of office computers,
Laptops and printers. Company recently received a large order from Bank Muscat of 80
computers and 50 printers. In addition, the Bank Muscat asked HP Electronics to install
software into each of the computers.
The cost per computer is 450 (OMR) and the cost per printer is 150 (OMR). The cost of
installing the software to run on all the computers is 4,000 (OMR).
a) If HP Electronics wants to make a 15% profit for the order, what would be the total
selling price HP needs to charge?
b) Do you agree with software installation cost to be considered in the total cost? Discuss
with reason
(4+1=5 Marks)
Q2: Al Tasnim Cement Company purchased a new machine for their operational expansion
valued at OMR 59,000 on January 1, 2015. The machine has an estimated useful life of six
years. The equipment is estimated to have a salvage value of OMR 9,000. Assuming the WDV
method of depreciation,
a) What is the amount of depreciation expense that needs to be recorded at the end of the
2019 year?
b) Is there any change in the value of depreciation at the end of 1st year and 4th year?
Discuss with reasons.
(4+1=5 Marks)
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Q3: Mr. Suleiman Ali is interested in buying a new Truck which costs RO 42,000. Presently
he is having RO 5000 only and hence decided to take the loan from the bank Dhofar. If he pays
RO 5000 as a down payment and takes a loan, he needs to pay RO 1200 for 36 months as an
installment against the loan.
a) Find out total amount to be financed and the total finance charge that Mr. Suleiman Ali
needs to pay at the end of the 36 months?
b) If Mr. Suleiman Ali borrows money from his friends without interest and doesn’t take a
loan, how much amount he can save? Discuss
(4+1=5 Marks)
Q4: Mr. Fahad living in Muscat borrowed a sum of OMR 8,000 from a bank at a certain rate
of interest to pay his son’s college fees. After 02 years he borrowed another sum of OMR
10,000 for his daughter’s education at 1% less than the first interest rate.
a) If he paid an interest of OMR 2,500 in total for three years, find the two interest rates at
which he borrowed the two amounts.
b) If he borrowed OMR 10,000 at the beginning of second year, then what will be the
interest rate for first and second borrowing?
c) If he had borrowed 18000 OMR in the first year at 7% rate, he would have paid more
interest. Discuss with reasons
(3+1+1= 05 Marks)
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Q5: As per the official records published by Muscat Securities Market (MSM), following are
the top gainers on 19 April 2020.
Company
Share Price (RO)
Price change (RO)
Oman Cement Company
1.918
0.023
Powertech Suppliers
1.265
0.135
Oman Financial Services
1.078
0.028
Bank Muscat
1.063
0.026
Raysut Investment company is interested in investing RO 5000 in the company which has
highest percentage gain.
a) Suggest (with reasons) the company shares Raysut Investment company should buy?
b) How much shares Raysut Investment company will be able to buy?
c) Without MSM, investment in the stock would have been difficult. Critically discuss
(2+2+1=5 Marks)
Q6: Al Sharifa Investment Company pays its employees on a graduated commission scale 6%
on the first RO 10,000 sale, 8% on sales from RO 10, 001 to RO 20,000 and
10% on sales
from RO20,001 and above.
Al Sharifa Investment Company presently having 04 sales representatives named Fatma,
Mohammed , Rawan and Akbar and their sales for the last month is (OMR) 17000, 23000,
14000 and 31000 respectively.
a) Find out the gross pay of each sales representative for the last month.
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b) If graduated commission scale is same for all levels of sale, sales volume will get
decreased. Discuss with reasons
(4+1=5 Marks)
Q7: Almaya retailer buys an LG Refrigerator from the wholesaler at RO 180 and the
wholesaler charges a VAT at the prescribed rate of 8%. The Almaya retailer fixes the price at
RO 210 and charges VAT at the same rate. Ms. Maryam buys the Refrigerator from the
Almaya retailer.
Apply value added tax system to answer the following questions:
a) What is the price that Ms. Maryam has to pay to buy the Refrigerator?
(02 Marks)
b) Input tax and output tax (Retailer)
(01 Mark)
c) Value added tax paid by the retailer to Government.
(01 Mark)
d) Discuss the role of the retailer in VAT system.
(01 Mark)
Q8: Mr. Khalid is working with a Powertech construction company and his friend Mr.
Mohammed is working with Supertech construction company as a supervisor. Mr. Khalid is
paid RO 5 per hour based on hourly rate, for 35 hours per week and Mr. Mohammed is paid
RO 4.5 per hour based on hourly rate, for 35 hours per week. According to the agreement, they
are eligible for overtime (time-and-a-half pay) and if they work less than 35 hours per week,
they will be paid RO 1 less than regular pay rate for that week.
In the last month, if Mr. Khalid worked for 32 hrs, 34 hrs, 40 hrs,42 hrs and Mr. Mohammed
worked for 30 hrs,35 hrs, 42 hrs, 41 hrs .
a) How much more gross pay Khalid will receive than Mohammed?
b) If employees work less than 35 hours per week, they will be paid RO 1 less than regular
pay rate for that week. Do you agree? If Yes, give reasons
(4+1=5 Marks)
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Q9: During Ramadan sale, a local furniture KM retail store is offering 30% discount on the
chairs and tables priced at 25 OMR and 50 OMR respectively.
Dr. Khalid Al Hinai a practicing medical doctor is interested to buy 05 chairs and 04 tables for
his clinic.
Later on Dr. Khalid came to know that another furniture store Almaya furniture was offering
flat 40% discount on the chairs and tables priced at 30 OMR and 55 OMR respectively having
same quality.
a) How much total amount Dr. Khalid Al Hinai has to pay to buy 05 chairs and 04 tables
from KM retail store?
b) Which deal will be better for Dr. Khalid, KM retail or Almaya furniture?
(3+2=5 Marks)
Q10: Mr. Abdul Khan a Wholesaler buys a Washing Machine from the LG manufacturing
company at RO 300 and pays VAT at the prescribed rate of 15%. Extraa, a retailer buys a
Washing Machine from the wholesaler at RO 350 and the wholesaler charges VAT at the
prescribed rate of 15%. The retailer fixes the price of Washing Machine at RO 420 and
charges VAT at the same rate.
Ms. Fatma, a customer buys the Washing Machine from the Extraa retailer.
(5Q*1M=5 Marks)
a) What is the price including VAT that Ms. Fatma has to pay to buy the Washing Machine?
b) Find out amount of input tax for the retailer and wholesaler.
c) Find out amount of output tax for the retailer and wholesaler.
d) How much VAT does the retailer pay to the government?
e) VAT is better than sales tax system. Discuss analytically
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