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MTH302 Assignment No. 1 Spring 2012 idea solution

Assignment # 1

MTH302 (Spring 2012)

Total marks: 20

Lecture # 1 to 8

Due date:19-04-2012



Question No. 1:

 

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

 

Basic Salary                             =RS: 16,000

House Rent Allowance             =45%

Conveyance Allowance            =10%

Utilities Allowance                    =10%

Group Insurance/Medical          =0%

Misc. Social Charges                =6.5%

 



     

 

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.

 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:

 

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

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

 

 

Tags: 1, 2012, Assignment, MTH302, No., Spring, idea, solution

Views: 254

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BS(CS)Permalink Reply by Nosheen on April 7, 2012 at 1:07pm

Good work yasmeen...

Permalink Reply by Yasmeen(S.admin) on April 8, 2012 at 11:12am

Permalink Reply by Amby on April 8, 2012 at 12:57pm

yasmeen sis 

i want to knw that there isnt mention about gratuity fund and provident fund...tou issk bawajood calculate karna pare ga ???

Permalink Reply by Yasmeen(S.admin) on April 8, 2012 at 1:06pm

dear gr ap mth302 ke book k lec  3 n 4 dekho n samjo to gross Remuneration main ye zarori hai .

ye assignment ka question wahean sy liya gaya hai bus sirf values kuch change hain


BBA (HON)Permalink Reply by Syed Shahzaib Haider kazmi on April 8, 2012 at 7:55pm

i think k leaves 12 se divide hngi,kyn k gross remuneration monthly hoti hn

Permalink Reply by Amby on April 9, 2012 at 12:54pm

thanx for explained

Permalink Reply by Yasmeen(S.admin) on April 9, 2012 at 7:21am

kazmi bhai ye answer ata hai 12 sy divide karny ka baad,

page 27,total amount of leaves are 19636 which is the amount the year,so divide the amount of leave by 12 and the calculate the gross remuneration

28,800+14,400=43200/12=3600

Gross Salary = 16,000+10,400+1455+1455+3600+1040=33,950



BBA (HON)Permalink Reply by Syed Shahzaib Haider kazmi on April 9, 2012 at 7:41pm

yes....but is may Social charges bhi add hngay....

Miscellaneous Soc. Charges    = .065 x (Gross Salary)

                                                = .065 x 26400

                                                = 1716

Total Social Charges               = Leaves Cost + Misc. Soc. Charges

                                                = 3600 + 1716

                                                = 5316

Gross Remuneration               = Gross Salary + Provident Fund + Gratuity Fund + Total                                                      Social Charges

                                                = 26400 + 1454.5 + 1454.5 + 5316

Gross Remuneration             = 34625.

Permalink Reply by riya on April 10, 2012 at 7:31pm

OPER WALA Q PHIR KYA THHEK NAI HAI KYA  Q K APKA GROSS REMUNARATION  34625 HAI OR 73550 HAI ????

Permalink Reply by Ashfaq on April 17, 2012 at 3:10pm

Social Charges are to be calculated on Basic Salary of Gross Salary (Basic+Allowances)?????????

Permalink Reply by Yasmeen(S.admin) on April 9, 2012 at 1:07pm

Permalink Reply by Yasmeen(S.admin) on April 9, 2012 at 10:01pm

THANKS SYED KAZMI BRO,

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