; A es UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION CONFIDENTIAL, r = CSIJUN 2016/MAT112 COURSE BUSINESS MATHEMATICS COURSE CODE MAT112 EXAMINATION JUNE 2016 TIME 3 HOURS 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) a one-page Appendix 1 (Tax Rate Schedule For Personal Income) ill) a one-page Appendix 2 (List of Formulae) jv) 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 5 printed pages (© Hak Cipta Universiti Teknolog! MARA, CONFIDENTIALCONFIDENTIAL 2 CSIJUN 2016/MAT112 QUESTION 1 The price of a share today is RM4. It is estimated to increase 2% every month in the coming year. Find the share price after 9 months. (5 marks) QUESTION 2 On 19 February 2015, Afina saved RM8,500 in a saving scheme which offered a simple interest rate of 12% per annum. At the end of the term, the balance of her account amounted to RM8,789. Using the Banker's Rule, find a) the term of the saving scheme. (3 marks) b) the maturity date, (4 marks) QUESTION 3 a) A promissory note dated 4 April 2016 with face value RM20,000 will mature on 2 August 2016. If the interest rate is 5.5% per annum, find the maturity value of the note. (7 marks) b) Damia borrows RMS,000 for six months from Bank Q that charges a discount rate of 9% Calculate the proceeds (4 marks) QUESTION 4 An amount of money was invested 6 years ago at an interest rate of 4% compounded quarterly. Now, the investment is worth RM1,904.60 Find a) the invested amount. (5 marks) b) the interest eamed. (3 marks) (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL 3 CSIJUN 2016/MAT112 QUESTION 5 a) RMZ is deposited every month for 3 years into an account with interest paid at 3% compounded monthly. If the amount in the account has accumulated to RM19,021.55, find the value of Z, (5 marks) b) Emma takes a loan that charged interest at 6% compounded monthly. She repays the loan in 7 years with monthly payment of RM758. i) Calculate the amount of the loan. (4marks) ji) If she missed the 25" and 26 payments, how much is the outstanding balance at the end of the 27 month? (5 marks) QUESTION 6 @) Joseph bought an acoustic drum set through an instalment plan with a down payment of RMS500. He had to make 104 weekly payments of RM20 each to settle the instalment. The interest charged was 9.2% per annum on the original balance. Assuming that there are 52 weeks in a year, calculate the cash price of the acoustic drum. (8 marks) b) The cash price of a machine is RM 58,500. Under an instalment plan, no down payment is required. If the interest charged is 6% on the reducing balance for 5 years, calculate the monthly instalment payment using the Constant Ratio method. (8 marks) (© Hak Cipta Universiti Teknologi MARA, CONFIDENTIALCONFIDENTIAL 4 CSIJUN 2016/MAT112 QUESTION 7 An invoice of RM35,000 including shipping cost of RM1,500 is offered a trade discount of 25% and cash discount terms of 8/10, 4/20, n/30. If the invoice was dated 31 December 2014, and the payment was settled 2 weeks later, find a) the amount of trade discount, (3 marks) b) the total payment. (6 marks) QUESTION 8 ‘The regular retail price of oven sold at an electrical store is RM60O each after a markup of 20% based on selling price. ‘@) Find the cost of each oven. (4 marks) b) The store sold 8 units of ovens at regular retail price and plans to sell the remaining 7 units at 15% discount. 1) Calculate the new retail price for each oven. (2 marks) ii) Find the total net profit if all the ovens are sold and the total operating expenses incurred are 5% based on cost. (6 marks) QUESTION 9 Wisely Publisher bought a printing machine at RM12,000. The useful life of the machine is 5 years and its scrap value is RM2,000. Using the reducing balance method, calculate a) the book value at the end of the forth year. (6 marks) b) the accumulated depreciation at the end of the forth year. (3 marks) (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL, 5 QUESTION 10 CSIJUN 2016/MAT112 Mr Nordin and Madam Maimon have 2 children. The youngest child is studying in secondary ‘School whereas the eldest child is studying in a local university. The table below shows their incomes (RM) and expenditures (RM) in year 2015. Mr Nordin | Madam Maimon ‘Annual Income. 90,000 42,000 EPF Contributions 9,900 4,620 Life Insurance Premium 6,000 4,200 Medical Insurance Premium = 2,400 Cash Donations to Approved Charitable Bodies 1,500 = | Parents’ Medical Expenses 4,000 7,000 Books and Journals 1,200 = ‘SSPN 2,400 = Zakat 400 400 Assess Mr. Nordin's tax payable if they choose separate assessment. Assume reliefs for both children are claimed by Mr, Nordin. END OF QUESTION PAPER (© Hak Cipta Universiti Teknologi MARA, (12 marks) CONFIDENTIAL,CONFIDENTIAL, APPENDIX 1 CSIJUN 2016/MAT112 TAX RATE SCHEDULE FOR PERSONAL INCOME Taxable Income Tax Rate (RM) (RM) On the first 2,500 0 0 On the next 2,500 0 0 On the first 5,000 oi 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 18,000 6 900 On the first 36,000 1,200 On the next 15,000 11 1,650, on the fist 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 13,850 Onthe next | Every RM after 26 — (© Hak Cipta Universiti Teknologi MARA CONFIDENTIALCONFIDENTIAL APPENDIX 2 CSI/JUN 2016/MAT112 LIST OF FORMULAE 1. T, =a+(n-1)d 2. 8, =F[2a+(a—Dd) | 3. Tsar"! arene taa)| aT 5. S=P(l+r) 6. Proceeds = S(I~dt) ene 8 d=— I-dt Tet 9. S=PU+i)" 10. x, =(1+i)" -1 v1. son[C20"=1) 12. ana os") i i 13. SP=C+M 14. GP = OE + NP 45. NP =LP(1-4,)(1~d,)....(1-d,) 18. BV, =C(I-1)" OPB = (Rxk)- k(k +1) n(n +1) (© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL