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  • BSM Assignment 1

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    Muhammad Arslan Abbasi
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    The document contains solutions to two questions. For question one, it calculates an employee's gross salary as Rs. 27,000 and shows that the total cost of casual and earned leaves per year is Rs. 44,181.81 which is 20.45% of the gross salary. For question two, it computes the compound amount and interest for an initial principal of Rs. 2,000 at 7% interest compounded annually over 20 years as Rs. 7,739.36 and Rs. 5,739.36 respectively.

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    The document contains solutions to two questions. For question one, it calculates an employee's gross salary as Rs. 27,000 and shows that the total cost of casual and earned leaves per year is Rs. 44,181.81 which is 20.45% of the gross salary. For question two, it computes the compound amount and interest for an initial principal of Rs. 2,000 at 7% interest compounded annually over 20 years as Rs. 7,739.36 and Rs. 5,739.36 respectively.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    3 views1 page

    BSM Assignment 1

    Uploaded by

    Muhammad Arslan Abbasi
    The document contains solutions to two questions. For question one, it calculates an employee's gross salary as Rs. 27,000 and shows that the total cost of casual and earned leaves per year is Rs. 44,181.81 which is 20.45% of the gross salary. For question two, it computes the compound amount and interest for an initial principal of Rs. 2,000 at 7% interest compounded annually over 20 years as Rs. 7,739.36 and Rs. 5,739.36 respectively.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    MC19020096

    Solution FILE:
    Q.NO.1

    BASIC SALARY 18000


    ALLOWANCE 9000
    GROSS SALARY =27000

    CASUAL LEAVES (12/22*27000) 14727.27


    EARNED leaves (24/22*27000) 29454.54
    Total cost of leaves per year =44181.81
    Total leaves as percent of gross salary (44181.81/(12*18000) * 100) =20.45%

    Q.NO.2

    Compound amount=S= ?
    P=2000
    r=7
    n=5*4=20

    S=P(1+r/100)^n
    S=2000(1+7/100)^20
    S=2000*(1.07)^20
    S=7739.36

    Compound interest=S-P=7739.36-2000
    Compound interest=5739.36

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