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Group Assignment. Business Mathematics

This document provides instructions for a group assignment for a business mathematics course. It includes 6 questions to be answered as a group assignment. Students must form groups of 5-6 students. The assignment is due on September 25th, 2015 and must be submitted in hard copy with a cover page. Plagiarism is not allowed and failure to follow instructions will result in lost marks. The assignment covers topics like solving systems of linear equations, calculating profit and revenue, comparing simple and compound interest, calculating present value, solving systems of equations using Gaussian elimination, and calculating price and quantity indices.

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EricKHLeaw
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2K views2 pages

Group Assignment. Business Mathematics

This document provides instructions for a group assignment for a business mathematics course. It includes 6 questions to be answered as a group assignment. Students must form groups of 5-6 students. The assignment is due on September 25th, 2015 and must be submitted in hard copy with a cover page. Plagiarism is not allowed and failure to follow instructions will result in lost marks. The assignment covers topics like solving systems of linear equations, calculating profit and revenue, comparing simple and compound interest, calculating present value, solving systems of equations using Gaussian elimination, and calculating price and quantity indices.

Uploaded by

EricKHLeaw
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BB202 Business Mathematics

Group Assignment 1

Group Assignment 1 [15%] - (Total : 30Marks)


Instruction:

Due date is on 25th September 2015 (Friday), 4pm.

This is a group assignment. Each group should consist of minimum 5 and maximum 6
students.

Neat handwriting answer is accepted. This assignment has to be submitted in hard


copy (A4 paper) with a standardized assignment cover page. Assignments not submitted
with cover sheet will not be marked.

Do not commit plagiarism. Plagiarism is when you use someone else's words or ideas
as your own.

Failure to follow the instructions will result in deduction of marks.


QUESTION 1
Solve the system below using linear equation.
2 + = 16
3 + 3 = 33

[2 marks]


QUESTION 2
Paper Mill Machine Enterprise had launched a new machine. The variable cost for 100 units
of the machne is RM1,350 and the fixed costs of the machine is RM20,000. In the first
production, they produced 5,000 units with a selling price of RM20,000 per unit. Using the
information given, find:
(a)

The profit gained by Paper Mill Machine Enterprise if all the new machines are sold.

[3 marks]

(b)

The total revenue if 6,000 units are sold.

[2 marks]

(c)

The profit gained for total units sold in (b) with the fixed cost reduced by 10%.
[3 marks]

QUESTION 3
Suppose that $2000 is invested in an account paying 3% annual interest. Compare the
balance after 20 years using simple interest and compound interest (compounded once a
year) formulas. Which investment has higher interest?
[5 marks]

Page 1 of 2

BB202 Business Mathematics

Group Assignment 1

QUESTION 4
Wyn Oil & Gas Company wishes to lease temporary office space for a period of six months.
The rental fee is RM 1,500 a month, payable in advance. Suppose that the company wants to
make a lump-sum payment at the beginning of the rental period to cover all rental fees due
over the six-month period. If money is worth 9% compounded monthly, how much should
the payment be?

[3 marks]


QUESTION 5
A knitting shop ordered yarn from three suppliers, I, II and III. One month the shop ordered
a total of 100 units of yarn from these suppliers. The delivery costs were $80, $50 and $65
per unit for the ordered from suppliers I, II and III, respectively with total delivery costs of
$5990. The shop ordered the same amount from suppliers I and III. How many units were
ordered from each supplier? Use Gaussian elimination method to find the solution.

[7 marks]


QUESTION 6
Edmond throws a party each Christmas for his friends. Details of his expenditure on some
food and drink and average retail price index (RPI) for 1999-2000 are as follows:

1999

2000

Price (RM)

Quantity Price (RM)

Quantity

Soft drink (per bottle)

1.00

40

1.15

50

Crisps (per packet)

0.20

100

0.27

90

Cake

2.00

2.20

Total expenditure

RM62.00

RM84.00

Average RPI

133.50

138.50


Using 1999 as the base year, calculate Laspeyres Price & Quantity Index for the year 2000.

Page 2 of 2

[5 Marks]

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