Final Exam (Take Home) Spring – 2020

Subject: Introduction to Maths Instructor: Syed Saiq Hussain

Max. Marks: 40

Department of Business Administration

Submission Instruction:

You need to submit the word document containing the solutions of all the questions just like the
report you have submitted as Assignment.

Evaluation Criteria: Rubrics

S.No Criteria Marks %

1 Answer is correct and followed all the steps required to solve the question 100
Answer is correct but didn’t follow all the steps required to solve the
2 75
question
3 Answer is wrong, however, approach to solve the question is correct 50

4 Solved incorrect, but the solution depicts some understanding of the concepts 25

5 Irrelevant solution 0

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Question Number 1: [05 marks]

Income earned by individuals in China from privately-owned businesses, sole proprietorship

enterprises, or partnerships is generally subject to Income Tax at progressive rates from 5% to 35%,
as follows:

Annual taxable income (Chinese Yen - CNY) Tax rate (%)

0 to 15,000 5

Over 15,000 to 30,000 10

Over 30,000 to 60,000 20

Over 60,000 to 100,000 30

Over 100,000 35

a) Create a Mathematical Model that represents the aforementioned information to calculate

the annual income tax.
b) How much annual income tax you will have to pay if your monthly taxable income is
CNY6,000.

Question Number 2: [05 marks]

Nintendo, a leading manufacturer of video games is about to introduce four new games. The
accompanying table summarizes price and cost data. Combined fixed costs equal $500,000.

Game-1 Game-2 Game-3 Game-4

Selling price $50 $45 $30 $20
Variable cost per unit $20 $15 $10 $10

a) Determine a joint total revenue function for sales of the video games.
b) Determine a joint total cost function for development of the video games.
c) Determine the profit function for sales of the video games.
d) What is profit if the firm sells 8000, 10000, 20000 and 5000 units respectively of the four
video games.

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Question Number 3: [1+3+3+3 = 10 marks]

A. A $10,000 certificate of deposit earns simple interest of 8 percent per year. Calculate the total
earned money over the 5 year period?
B. A sum of $22,000 is invested in a savings account which pays interest at the rate of 7 percent per
year compounded quarterly. If the amount is kept on deposit for 10 years, what will the compound
amount equal? How much interest will be earned during the 10 Years. Also calculate the effective
interest rate.
C. A Company wants to deposit $1,000,000 per year in an investment which earns interest of 10
percent per year. Assume the first deposit is made at the end of the current year and addidtional
deposits at the end of each following year.
a) To what sum will the investment grow at the time of the 10 th deposit?
b) How much interest will be earned.
D. A person wants to generate eight intallments of $1,000 in the following four years. How much
money should be invested, if the interest rate is 10 percent per year.

Question Number 4: [5 marks]

Apply the Inverse Matrix method (AX=B method) to find the unique solution of below mentioned
system of multivariable equations.

𝑥 − 𝑦 + 2𝑧 = 3
𝑥 + 2𝑦 + 3𝑧 = 5
3𝑥 − 4𝑦 − 5𝑧 = −13

Question Number 5: [5 marks]

Apply Crammer’s Rule to find the solution of below mentioned system of multivariable equations.

𝑥+𝑦+𝑧 =6
2𝑥 − 𝑦 + 3𝑧 = 4
4𝑥 + 5𝑦 − 10𝑧 = 13

Question Number 6: [4+3+3 = 10 marks]

A. Determine the concavity of the parabola representing the quadratic function, its y-intercept, its
x-intercepts and the coordinates of the vertex. Also sketch the Parabola.

𝑓 (𝑥 ) = 10𝑥 2 − 70𝑥 + 100

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B. The demand function for a product is

𝑄 = 𝑓(𝑝) = 𝑝2 − 90𝑝 + 2025 ; 0 ≤ 𝑝 ≤ 45

Where Q equals the number of units demanded and p equals the price per unit, stated in dollars.

a) What type of function is this?

b) How many units will be demanded at a price of $30?
c) What price would result in zero demand for the product?

C. Find the Distance, Slope and Midpoint of the line segment connecting (5,-10) and (15,-20). Also
find the equation of this line.

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