BUSINESS

MATHEMATICS
&
STATISTICS

LECTURE 3
 LECTURE 3
Evaluations
Calculate Gross
Earnings
Using Microsoft Excel
 Evaluation
In order to successfully
complete this course, the
student is required to
meet the evaluation
criteria
Evaluation Criterion 1
Full participation is
expected for this
course
Evaluation Criterion 2
All assignments must
be completed by the
closing date
Evaluation Criterion 3
Overall grade will be
based on VU existing
Grading Rules
Evaluation Criterion 4
All requirements must
be met in order to pass
the course
 Grading
There will be a term exam and
one final exam; there will
also be 4 assignments
The final exam will be
comprehensive
 Grading
These will contribute the following
percentages to the final grade:

Mid Term Exam 35%

Final 50%
4 Assignments 15%
 Collaboration
Discus
Prepare own solutions
Make original submissions
 ETHICS
No copying
No cheating
No short cuts
 Methodology
There will be 45 lectures each
of 50 minutes duration
The lectures will be delivered
in a mixture of Urdu and
English
 Methodology
Heavily supported by slide
presentations
The slides available on the VU
website before the actual lecture is
televised
Students to carry out preparatory
reading before the lecture
 Methodology
Own page on the VU’s web
site
Lecture and other supporting
material
Link to a web-based
discussion and bulletin
board
 Methodology
Teaching assistants will be
assigned by VU to provide
various forms of assistance
such as grading, answering
questions posted by students
and preparation of slides
 Text and Reference
Material
Material from different sources
Topics for reading on course web
site and in professor’s handouts
On the course web site
A list of reference books to be posted
and updated on course web site
 PROBLEMS
If you have any problems with
understanding of the course
Contact
bizmath@vuedupk
 Salary
Basic Salary +
Allowances +
Gratuity +
Provident Fund +
Social Charges
 Allowances
House Rent 45 %
Conveyance 2.5 %
Utilities 2.5 %
 Gratuity
1/11 th of Basic
Salary
About 9.99 % of Basic
 Provident Fund
1/11 th of Basic
Salary
About 9.99 % of Basic
 Social Charges
Casual Leave 18 Days
Sick Leave 12 Days
Medical/Group Insurance 5%
Total about 29% of Gross
Salary
 Summary
Basic salary 100 %
Allowances 50 %
Gratuity 9.99 %
Provident Fund 9.99 %
Social Charges 29 %
 EXAMPLE 1
Basic Salary= 6,000 Rs
Calculate Remuneration
Including Allowances,
Gratuity, Provident Fund
and Social Charges
Decimal Fraction
½ = 0.5
10/100=0.1
Common Fraction
10/100=1/10
 Percent
Fraction X 100
Example
0.1 X 100= 10%
Converting % into
Fraction
20%= 20/100= 0.2
 Rate
Percent or Fraction
Earnings
20% or 20/100=0.2
 Percentage
Percent of the Base
Example
20% of 120
In 20% of 120
120 is Base
20% is Rate
Percentage=
Base x Rate
20% x 120
20/100 x 120
Or 0.2 X 120
= 24
What Percentage is 6 %
of 40
= Rate X Base
= 0.06 X 40
= 24
 Base=
Percentage/Rate
Example
Rate = 24.0 %
Percentage = 96
Base= 96/0.24=400
 BUSINESS
MATHEMATICS
&
STATISTICS