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NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JANUARY/FEBRUARY 2018 EXAMINATION

COURSE CODE:     BUS729                                                         CREDIT UNIT:  2

COURSE TITLE:    Business Mathematics

TIME ALLOWED: 2hrs

INSTRUCTIONS:   1. Attempt question number one (1) and any other (2) questions.

                                   2. Question number 1 carries 30 marks, while the other two (2)                                                       questions carry 20 marks each.

                                   3. Present all your points in coherent and orderly manner.

 

1a. Define Cash flows                                                                                                7marks

1b. A company wishes to spend #40000 for new equipment and decides to set up a sinking fund to accumulate this money over a 3 year period. If payments are to be made to the fund quarterly, with interest compounded quarterly at an annual rate of 5%, how large should the payments be? 11marks

c.) Let A = {1,2,3,4}, B = {2,4,6,8} and C = {3,4,5,6}. Find

(i) AB           3marks

(ii) AC          3marks

(iii) BC         3marks

(iv) BB         3marks

 

2a). Discuss Simple and Compound Interest  10marks

2b.) Suppose you invest #2000 at an annual interest rate of 6%. Find your balance at the end of     

     1st year if interest is compounded; a) Yearly   b)  Semiannually   c) Quarterly    d) Monthly           

      10marks

 

3a. Define the following with example

     (i) Rational Numbers          3marks

    (ii) Natural Numbers           3marks

   (iii) Prime Numbers              3marks

   (iv) Decimals and Real Numbers     3marks

   (v) Absolute Value               3marks

 

3 b. State the basic principles of matrix or algebra                                5marks

4. The purchasing department of a big company has analysed the number of orders placed by each of the 5 departments in the company by type as follows:    20marks

Departmental Orders

Type of Order                                          Department  

                              Sales      Purchasing    Production    Accounts        Maintenance        Total

Consumables          10              12                   4                    8                          4                38

Equipment              1                 3                    9                    1                          1                15

Special                    0                 0                    4                    1                          2               7

Total                       11               15                  17                 10                         7                60

An error has been found in one of these orders. What is the probability that the incorrect order:

a) came from maintenance?

b) came from production?

c) came from maintenance or production?

d) came from neither maintenance nor production?

 

 5a. Explain the requirements for Linear Programming   10marks

 

5b). Discuss the following;

      i. Coupon Rate    4marks

      ii. Zero Coupon Bonds     4marks

       iii. Floating Rate Bonds      2marks

 


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