Paper 4: Fundamentals of Business Mathematics & Statistic

1.32 I FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS

Arithmetic

Solution :

(a) Calculation of Interest in case of Satyajit:

Computation of Average Due Date ‘0’ Date = 1.7.2011

Date No. of days from ‘0’ date Amount Product

J + A + S ` `

1.7.2011 0 300 0

30.9.2011 91 (30 + 31 + 30 + 1) 500 45,500

1.11.2011 123 (30 + 31 + 30 + 31+1) 800 98,400

28.2.2012 242 (30 + 31 + 30 + 31+30 + 31+31+28) 200 48,400

1,800 1,92,300

∴ Average number of days

1,92,300

= 1,800

`

` = 107 days (approx.)

Average due date = July 1 + 107 days = 16th Oct. 2011.

Therefore, interest is chargeable from 16.10.2011 to 31.3.2012, i.e.,^512 months.

51

1,800^62 49.50

=×100 12× =

(b) Calculation of Interest in case of Prosenjit:

Computation of Average Due Date ‘0’ Date = 1.6.2012

Date No. of days from ‘0’ date Amount Product

` `

1.62011 0 500 0

1.8.2011 61 (29 + 31 + 1) 400 24,400

1.2.2012 245 (29 + 31+31+30 + 31+30 + 31+31 + 1) 400 98,000

1.3.2012 273 (29 + 31+31+30 + 31+30 + 31+31+28 + 1) 900 2,45,700

2,200 3,68,100

∴ Average number of days =

3,68,100

2,200

`

` = 167 days (approx.)

Average Due Date will be June 1 + 167 days = 16.11.2011.

∴ Interest is chargeable from 16.11.2011 to 31.3.2012 =^412 months

Amount of interest will be = ` 2,200

41

(^62) 49.50
×100 12× =`.