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MTH302_ Assignment1 Solution &Discussion-Due Date:12-11-2012
Author Message
11-11-2012, 10:15 PM
Post: #2
Isha saman [ Member From :N/A]
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RE: MTH302_ Assignment1 Solution &Discussion-Due Date:12-11-2012
Basic salary of Sana = 24000

House rent and utilities allowance are calculated using basic salary.

%age of House rent = (10800/24000) * 100 = 45% of basic salary

%age of Utilities Allowance = (2400/24000) * 100 = 10% of basic salary

Medical/Group Insurance & Miscellaneous Social Charges are calculated using gross salary.

Gross salary is the sum of basic salary and all other allowances, so in this case gross salary will be:

Gross salary = 24000 + 10800 + 2400 + 1860 + 2232 = 41292

%age of Medical/Group Insurance = (1860/41292) * 100 = 4.5045% of gross salary

%age of Miscellaneous Social Charges = (2232/41292) * 100 = 5.40541% of gross salary

Question No. 2:

Principle = P = 5,00,000

Interest Rate per Annum = % = 5.5%

Time in years = T = 7 years and 4 months = 7.333 years

I = P*R*T / 100

I = 5,00,000 * 5.5 * 7.333 / 100

I = 201657.5
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RE: MTH302_ Assignment1 Solution &Discussion-Due Date:12-11-2012 - Isha saman - 11-11-2012 10:15 PM

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