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Business Maths Question, Quizzes of Business Mathematics

Lagos State UniversityBusiness Mathematics

This document contains 50 questions in mathematics. It covers some part of topics like Annuities, Indices, A.P, Sets e.t.c

Typology: Quizzes

2018/2019

Available from 11/23/2021

taiwo-idowu
taiwo-idowu 🇳🇬

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MAT 103
(50 QUESTIONS BY HIGHDEEULOGY💥💥)
1. In other to purchase a manufacturing units, a person has taken a loan of N2,000
from a bank at 20% rate per annum. If he repays the amount in 15 equal
instalments, then the amount of instalment and the principal outstanding for 8
periods respectively are:
(a) N429, N901
(b) N428, N901
(c) N901, N428
(d) N427, N429
2. An annuity in which payment begins at a fixed date but continued forever is
called.
(a) Annuity due
(b) Perpetual annuity
(c) Contingent annuity
(d) Ordinary annuity
3. The starting annual salary of a particular employee is N35,000. What will be
the employee’s annual salary in his tenth year on the job if his annual salary
increases by N5,000.
(a) N79,000
(b) N80,000
(c) N81,000
(d) N82,000
4. Given a sequence 1,3,9,27,…. What is the sum of the first ten terms of the
sequence
(a) 29,524
(b) 29,522
(c) 29,523
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pf4
pf5
pf8
pf9
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MAT 103

(50 QUESTIONS BY HIGHDEEULOGY 💥💥 )

  1. In other to purchase a manufacturing units, a person has taken a loan of N2, from a bank at 20% rate per annum. If he repays the amount in 15 equal instalments, then the amount of instalment and the principal outstanding for 8 periods respectively are: (a) N429, N (b) N428, N (c) N901, N (d) N427, N
  2. An annuity in which payment begins at a fixed date but continued forever is called. (a) Annuity due (b) Perpetual annuity (c) Contingent annuity (d) Ordinary annuity
  3. The starting annual salary of a particular employee is N35,000. What will be the employee’s annual salary in his tenth year on the job if his annual salary increases by N5,000. (a) N79, (b) N80, (c) N81, (d) N82,
  4. Given a sequence 1,3,9,27,…. What is the sum of the first ten terms of the sequence (a) 29, (b) 29, (c) 29,

(d) None

  1. The value of a particular company’s share depreciates by one fifth of its starting value at the beginning of another year. Suppose the starting value of a share is N11 per share. What will be the value of one unit of the share at the beginning of the 3rd year? (a) N70. (b) N70. (c) N70. (d) N70.
  2. In a class of 50 students, 40 students offer Economics and 30 offer Geography. How many students are offering the two subjects? (a) 30 (b) 35 (c) 25 (d) 20
  3. The Quadratic equation ax² + bx + c = 0 will have equal root if; (a) b² < 4ac (b) b² = -4ac (c) b²- 4ac = 0 (d) b² + 4ac = 0
  4. What sum will amount to N5,525 at the rate of 10% per annum compounded yearly for 13 years. (a) 1, (b) 1,
  1. A group of 100 tourist students visited Nigeria, Ghana or Cameroon. If the information on this group are n(N) = 73, n(G) = 28, n(C) = 21, n(N ∩ G) = 12, n(G ∩ C) = 9, n(C ∩ N) = 8. Then calculate n(N ∩ G ∩C) and n(N' ∩ G ∩C) (a) 6 and 4 (b) 7 and 2 (c) 2 and 3 (d) 4 and 8
  2. In a school, 500 students in the final year enrolled for the General Certificate Examinations. Out of this number, 400 offers Physics and 290 offers Chemistry. How many students offers Physics and Chemistry, if only 70 students offers neither Physics nor Chemistry. (a) 140 (b) 160 (c) 200 (d) 260
  3. Solve the inequality 10 - 8x > 8 (a) (¼,∞) (b) (-∞,¼) (c) (∞,¼) (d) (0,¼)
  4. A boy is paid 50 kobo for each day he works and fined 25 kobo for each day he fails to work. After 20 days, he is paid N7.00. For how many days has he worked (a) 14 days (b) 15 days (c) 16 days

(d) 17 days

  1. The cost of a pear is 5 kobo greater than that of an apple. If 8 apples and 9 pears cost N1.64, what is the cost of each type of fruit? (a) Pear = 12.5k, Apple = 7.5k (b) Pear = 7.5k, Apple = 12.5k (c) Pear = 7k, Apple = 12k (d) Pear = 12k, Apple = 7k
  2. In a sale promotion, 6 pens and 1 eraser cost N40 while 4 pens and 3 erasers cost N36. What is the cost of each of the items?. (a) Pen = N4.5, Eraser = N6. (b) Pen = N4, Eraser = N (c) Pen = N6, Eraser = N (d) Pen = N6.5, Eraser = N4.
  3. The total time from the beginning of the first payment period and the last payment period is known as .............. of annuity. (a) term (b) tenure (c) period (d) interval
  4. If log 2 x + log 4 x + log 16 x = 21/4, what is x ?. (a) 2 (b) 6 (c) 4

(c) 61/ (d) 61/

  1. The value of x and y in the simultaneous equation x² + y² + xy = 15 and x + y = 4 is. (a) 2 + √ (b) 2 - √ (c) 3 ±√ (d) 2 ± √
  2. Find the banker's interest to the nearest kobo. Principal: N25,000, Rate: 9%, Time: 180days, simple interest:? (a) N1128. (b) N1127. (c) N1126. (d) N1125.
  3. One-Shop Building Supply Company pays N49.94 each for ladders. The company wants a 45% markup on the cost. It should sell each ladder for (a) N72. (b) N73. (c) N71. (d) N70.
  4. N6.65 is what percent of N95. (a) 4% (b) 5% (c) 6% (d) 7%
  1. Future value of an annuity is .................. (a) the sum of all the payment from the beginning of an annuity. (b) the sum of all the payment at the end of a period. (c) the sum of all the payment at the end of an annuity. (d) the sum of all the receipt at the end of an annuity.
  2. An annuity in which payment are conditional is known as ............. (a) Annity due (b) Annuity certain (c) Deferred annuity (d) Contingent annuity
  3. A price of N20,000 is to be shared by two winners of a contest in the ratio 6 to
  4. The larger share is worth? (a) N8, (b) N10, (c) N12, (d) N13,
  5. 65 students in a secondary school sat for an examination in physics, 50 of them scored 60% and above, 25 scored 70% and below, how many students obtain marks between 70% and 60% inclusive?. (a) 8 (b) 9 (c) 10 (d) 11
  1. If A and B is a matrices, for the product AB to exists, the number of column A must be equal to the number of row of B. (a) False (b) I don’t know (c) True (d) Maybe.
  2. Suppose A is a Matrix, then A is said to be a Skew Symmetric Matrix, if: (a) A = A T (b) A = A (c) A = - A T (d) A = - A
  3. A square matrix in which its diagonal elements are non-zero while other elements are zero is? (a) Zero Matrix (b) Identity Matrix (c) Diagonal Matrix (d) Square Matrix
  4. A simultaneous equation can be solved by all but one (a) Elimination method (b) Formulae method (c) Substitution method (d) Cramer’s rule
  5. The 18th term of an AP is 25, its first term if the common difference is 2 is? (a) - (b) - (c) -

(d) -

  1. A loan of 15,000,000 was taken at 12% rate of interest per annum. The loan is to be paid in 10 equal installment. The amount of each installment is? (a) N648,838. (b) N647,938. (c) N649,838. (d) N648,938.
  2. Bosede Banke’s job pays her N11.25 per hour for a 40-hours week. She estimate her fringe benefit to be 29% of her yearly wages. Her yearly job expenses are estimated to be dues, N375; uniform, 580; commuting cost, N934. What is Banke’s total annual pay? (a) N23, (b) N23, (c) N23, ((d) N23,
  3. At what rate(%) per annum compound interest will N100 amount to N 500 in 12years. (a) 12.4% (b) 13.4% (C) 14.4% (d) 15.4%
  • (c)
  • (d)