MTH302 Assignment no 1

[bittoo]

MTH302 Assignment no 2 Solution Spring June 2011

[bittoo]

Question No. 1:

If the salary and allowances of an employee are as follows:

Basic Salary
House Rent Allowance
Conveyance Allowance
Utilities Allowance
Group Insurance/Medical
Misc. Social Charges

There are Casual, Earned (not availed) and no Sick leaves per year where as normal working days per month are . Calculate the Gross Remuneration of the Employee.

Question No. 2:

Calculate the discount factor and discounted value when discount rate is 5%, number of periods is 20 and amount of annuity is Rs.20000.

[Vuhelper]

MTH302 1st Assignment Complete Solution spring 2012

Question No. 1
Solution :

Basic Salary = 16,000
House Rent Allowance = 16,000 x .45 = 7200
Conveyance Allowance = 16,000 x .10 = 1600
Utilities Allowance = 16,000 x .10 = 1600
Total Allowances = 7200+1600+1600= 10,400

Provident Fund = 16,000 x 1/11 = 1455
Gratuity Fund = 16,000 x 1/11 = 1455

Earned Leave = (26,400 x 12)x{(24/(22x12)} = 28,800
Casual Leave = (26,400 x 12)x{(24/(22x12)} = 14,400
Misc. Social Charges = 16,000 x .065 = 1040

Gross Salary = 16,000+10,400+1455+1455+28,800+14,400+1040=73,550

Question No. 2

Solution :

Discount Factor = (1-1/(1+i)^n)/i
Discount Factor = (1-1/(1+.05)^20)/.05
Discount Factor = 12.4622

Discounted Value = 20,000 x 12.4622 = 249,244

[khan83pk]

i think this is wrong we need monthly gross remuneration ? the how this coming