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Business Mathematics Assignment Solutions

The document contains two math problems. The first problem calculates interest on a $4000 loan at 8% annual interest over 4 years. The second problem divides Rs. 820 among three people in a 3:4:5 ratio.

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Alina Ali
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18 views2 pages

Business Mathematics Assignment Solutions

The document contains two math problems. The first problem calculates interest on a $4000 loan at 8% annual interest over 4 years. The second problem divides Rs. 820 among three people in a 3:4:5 ratio.

Uploaded by

Alina Ali
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

NAME:ALINA ALI

STUDENT: bc230211358

DEPARTMENT:BS-PSYCHOLOGY

BUSINESS MATHEMATICS &

STATISTICS

ASSIGNMENT # 1

Question-01:

If Mr. Kareem borrowed $4000 at 8% simple interest annually to purchase a computer and pays a
monthly payment for four years, then find the following

(a) Amount of interest to be paid

(b) Total amount to be paid back

Solution :-

(a) The amount of interest to be paid:

Interest = Principal × Rate × Time

= $4000 × 0.08 × 4

= $1280Ans

(b) The total amount to be repaid:

Total amount = Principal + Interest

= $4000 + $1280

= $5280Ans

Question-02:

The sum of Rs. 820 is to be divided among Ali, Fakhar and Zahid according to the ratio 3 : 4 : 5.
How much does each one receives?
SOLUTION:-

The total ratio is 3 + 4 + 5 = 12.

To find Ali’s share, we can calculate:

= (3/12) * Rs. 820 = Rs. 205.

For Fakhar’s share:

=(4/12) * Rs.820

Rs. 273.33

And for Zahid’s share:

(5/12) * Rs. 820 = Rs. 341.67

So, Ali receives Rs. 205, Fakhar

receives around Rs. 273.33, and

Zahid receives around Rs. 341.67.

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