MTH302 Assignment 1 Solution and Discussion

[zaasmi]

Re: MTH302 Assignment 1 Solution and Discussion

Assignment No. 1 MTH302 (Spring 2020)

Total Marks: 20
Due Date: June 21, 2020.

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Question 1
Sameer took a loan of Rs 10,000 at the interest rate of 12% per annum for 5 years. Show that the compound interest is greater than simple interest on the given amount.

Question 2
A retailer purchases items that cost Rs. 40.5 each. He adds a markup of 25% on the selling price. The item is then marked down to 7%. What will be the final selling price of the item.

[Dua Zahra]

Sameer took a loan of Rs 10,000 at the interest rate of 12% per annum for 5 years. Show that the compound interest is greater than simple interest on the given amount plz send me full solution

[Ehtisham Ali]

@zaasmi said in MTH302 Assignment 1 Solution and Discussion:

Question 1
Sameer took a loan of Rs 10,000 at the interest rate of 12% per annum for 5 years. Show that the compound interest is greater than simple interest on the given amount.
Question 2

Let the sum borrowed be Z. Then,
(Zx6x2⁄100) + (Zx9x3⁄100) + (Zx14x4⁄100) = 11400
Therefore, 3Z⁄25 + 27Z⁄100 + 14Z⁄25) = 11400
? 95Z⁄100 = 11400
Z = (11400x100⁄95) = 12000

[Rabia Dar]

@zaasmi said in MTH302 Assignment 1 Solution and Discussion:

A retailer purchases items that cost Rs. 40.5 each. He adds a markup of 25% on the selling price. The item is then marked down to 7%. What will be the final selling price of the item.

By definition, the markup percentage calculation is cost X markup percentage. Then add that to the original unit cost to arrive at the sales price. The markup equation or markup formula is given below in several different formats. For example, if a product costs $100, then the selling price with a 25% markup would be $125.

Gross Profit = Sales Price – Unit Cost = $125 – $100 = $25

Now that you have found the gross profit, let’s look at the markup percentage calculation:

Markup Percentage = Gross Profit/Unit Cost = $25/$100 = 25%

The purpose of markup percentage is to find the ideal sales price for your products and/or services. Use the following formula to calculate sales price:

Sales Price = Cost X Markup Percentage + Cost = $100 X 25% + $100 = $125

[zaasmi]

@Ehtisham-Ali said in MTH302 Assignment 1 Solution and Discussion:

@zaasmi said in MTH302 Assignment 1 Solution and Discussion:

Question 1
Sameer took a loan of Rs 10,000 at the interest rate of 12% per annum for 5 years. Show that the compound interest is greater than simple interest on the given amount.
Question 2

Let the sum borrowed be Z. Then,
(Zx6x2⁄100) + (Zx9x3⁄100) + (Zx14x4⁄100) = 11400
Therefore, 3Z⁄25 + 27Z⁄100 + 14Z⁄25) = 11400
? 95Z⁄100 = 11400
Z = (11400x100⁄95) = 12000

[zaasmi]

@Rabia-Dar said in MTH302 Assignment 1 Solution and Discussion:

@zaasmi said in MTH302 Assignment 1 Solution and Discussion:

A retailer purchases items that cost Rs. 40.5 each. He adds a markup of 25% on the selling price. The item is then marked down to 7%. What will be the final selling price of the item.

By definition, the markup percentage calculation is cost X markup percentage. Then add that to the original unit cost to arrive at the sales price. The markup equation or markup formula is given below in several different formats. For example, if a product costs $100, then the selling price with a 25% markup would be $125.

Gross Profit = Sales Price – Unit Cost = $125 – $100 = $25

Now that you have found the gross profit, let’s look at the markup percentage calculation:

Markup Percentage = Gross Profit/Unit Cost = $25/$100 = 25%

The purpose of markup percentage is to find the ideal sales price for your products and/or services. Use the following formula to calculate sales price:

Sales Price = Cost X Markup Percentage + Cost = $100 X 25% + $100 = $125