CONFIDENTIAL Z| CSIDEC 2015/MAT112 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE BUSINESS MATHEMATICS COURSE CODE : MAT112 EXAMINATION DECEMBER 2015 TIME : 3HOURS INSTRUCTIONS TO CANDIDATES 1 This question paper consists of ten (10) questions, 2. Answer ALL questions in the Answer Booklet. Start each answer on a new page. 3. Do not bring any material into the examination room unless permission is given by the invigilator. 4 Please check to make sure that this examination pack consists of i) _ the Question Paper ii) aone— page Appendix 1 (Tax Rate Schedule For Personal Income) iii) aone— page Appendix 2 (List of Formulae) iv) an Answer Booklet ~ provided by the Faculty 5. Answer ALL questions in English, DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO This examination paper consists of 4 printed pages © Hak Cipta Universiti Teknolog! MARA CONFIDENTIALCONFIDENTIAL 2 CSIDEC 2015/MAT112, QUESTION 1 The monthly amount of money donated by Ahmad to Yayasan Budiman can be described in the form of geometric sequence as follows: RM1000, RM1100, RM1210, Find the total amount of money donated for 2 years. (5 marks) QUESTION 2 On 10” February 2015, Shakirah saved RM12,000 in an account that pays simple interest eh per annum. The balance in the account on 11" May 2015 was RM12,240. Find the value of k using the Banker's Rule. (7 marks) QUESTION 3 a) A 58-day promissory note with an interest rate of 12% per annum matured on 17" November 2015. If the maturity value of the note was RM30,580, find the i) date of the note. (3 marks) ii) face value of the note. (4 marks) b) Jacqueline has to pay RM2,040 at the end of 20 days for her bank loan. If the bank charges a 5% discount rate, find the amount of bank discount and proceeds. (6 marks) QUESTION 4 Alvin invested RM600 for 10 years 2 months. The investment offered an interest rate of 8% compounded every three months for the first 5 years and 9% compounded monthly for the rest of the period. Calculate the accumulated amount of money in the account at the end of the investment period. (8 marks) (© Hak Cipta Universiti Teknologi MARA, CONFIDENTIALCONFIDENTIAL, 3 CSIDEC 2015/MAT112 QUESTION 5 ‘A piece of land that costs RM60,000 is purchased by making 10% down payment. The balance is financed through an installment plan that charges 4.5% interest compounded monthly for 10 years. a) Calculate the monthly payment. (8 marks) b) Determine the amount of interest charged. (3 marks) c) If the loan is settled 4 years earlier than the actual period through a single payment, find this single payment. (4 marks) QUESTION 6 Rayyan purchased a home theater set and paid 20% down payment which amounted to RM2,000. He had to pay 20 monthly payments to settle the balance. The interest rate charged was 8.5% per annum based on reducing balance. Calculate the a) _ cash price of the home theater set. (3 marks) b) monthly payment using the Constant Ratio formula (6 marks) ©) _ outstanding balance right after the 8" payment using the Rule of 78. (5 marks) QUESTION 7 Eliana bought a Smartphone for RM800. She sold the phone with a markup of 20% on the selling price. If the net profit obtained was RM9S, calculate the a) selling price. (4 marks) b) operating expenses. (3 marks) ©) break-even price. (3 marks) {© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL,CONFIDENTIAL, 4 CSIDEC 2015/MAT112, QUESTION 8 Jati Furniture Shop received a RM48,250 invoice dated 30” October 2015 with trade discounts of 10% and 8%. A cash discount terms of 4/15, 2/25, n/45 was offered. a) Determine the single trade discount equivalent to the given trade discounts. (3 marks) b) Find the amount paid if the payment is made on 10" November 2015. (5 marks) QUESTION 9 A machine costing RM50,000 has an estimated life of 8 years and scrap value of RM30,000. Find the book value of the machine at the end of 5" year using the a) straight line method. (4 marks) b) declining balance method, (4 marks) QUESTION 10 Mr. Khalid and his wife have 3 children. The eldest child is studying at the local university and the other two are still schooling. The table below shows their incomes and expenditures for the year 2014. Khalid [Wife (RM) (RM) ‘Annual Income 72,000 | 36,000 EPF Contributions 7,920 3,960 Life Insurance Premium 2,200 800 ‘Cash Donations to Approved Charitable Bodies | 500 5 Books and Journals 7,200 Part-time education ‘000 ‘Sport equipment = [Zakat 600 Assess their tax by separate assessment. (12 marks) END OF QUESTION PAPER (© Hak Cipta Universiti Teknologi MARA. CONFIDENTIAL,CONFIDENTIAL APPENDIX 4 CSIDEC 2015/MAT112 TAX RATE SCHEDULE FOR PERSONAL INCOME Taxable Income Rate Tax (RM) (RM) On the first 2,500 0 0 On the next 2,500 0 0 On the first 5,000 0 On the next 5,000 2 100 On the first 10,000 100 On the next 10,000 2 200 On the first 20,000 300 On the next 15,000 6 900 On the first 36,000 4,200 On the next 18,000 1" 1,650 On the first 50,000 2,850 On the next 20,000 19 3,800 On the first 70,000 6,650 On the next 30,000 24 7,200 On the first 100,000 Onthe next | Every RM after 26 (© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL,CONFIDENTIAL, APPENDIX 2 CSIDEC 2015/MAT112 LIST OF FORMULAE 4. T,sat(n-1d 2S, = Flat aD] 3. T, =ar"! 4, 5, =2° =) . ao! 5. S=P(1+rt) 6. Proceeds = S(1~dt) 8. d=—_ Lert 9. S=P(I+i)" 10. 1, =(1+i)"-1 " sqxfer “| 2 ana{ =") 13. SP=C+M 14, GP =OE+NP (I-d,) 2m 16..=—2m Bin+1) 18. BY, =C(I-1)* 1 3 © Hak Cipta Universiti Teknologi MARA. CONFIDENTIAL