Mulungushi University

School of Natural and Applied Sciences

Department of Mathematics and Statistics

Business Mathematics(MSM 192)

2023/24 Academic Year, Semester Two

February 5, 2024

Tutorial Sheet 1

NOTE: Only students with attempted solutions will be allowed in a tutorial session

1. Derive the sum of an arithmetic progression when the nth term is known.

2. Find the 100th and nth term of the G.P 72 , 47 , 78 , 16

7
,......

3. Find the sum of the arithmetic series with first term 1, common difference 3, and last term 100.

4. Show that the sum of the first n terms of the series: 1 + 3 + 5 + ... is given by the formula, Sn = n2

5. An individual saves K1,000 in a bank account at the beginning of each year. The bank offers a
return of 8% compounded annually.

(a) Determine the amount saved after 10 years.

(b) After how many years does the amount saved first exceed K20,000?

6. Toyota company produces 750 cars of a certain type in the first month of its production and then
in each month the production is increased by 20 cars in comparison with the preceding month.
What is the production in the twelfth month?

7. Find the 15th term of a geometric progression whose 8th term is 192 and the common ratio is 2 .

8. The sum of the first 20 terms of an arithmetic series is identical to the sum of the first 22 terms.
If the common difference is -2, find the first term.

9. A firm produced 20,000 DVD players in its first year 2001. If the production increases every year
by 10 per cent, what will be the production in 2009?

10. Compute the sum of the integers from 1 to 100.

11. What is the smallest number of terms of the geometrical progression

2 + 6 + 18 + 54 + 162...

that will give a total greater than 1000?

 12. Rewrite 0.3333 as a series, and find its sum to infinity.

13. At what rate of interest an amount of investment will be thrice as much as at the end of 6 years?

14. How many years will it take at 12% interest compounding annually for K6000 to grow to K11,
000?

15. Two equal amount of money are deposited in two banks, each at 15% simple interest p.a. for 3.5
years and 5years. If the difference between their interest is K144, each sum is?

16. Mr. Kolosa has invested K100,000 for 5 years at 10% rate of interest.

(a) What will be the simple interest and amount after 5 years?
(b) What will be the compound interest and amount after 5 years if interest is paid (i) Monthly,
or (ii) Quarterly?
(c) What should be annual compound interest rate to make the amount K200,000 after 5 years?

17. Mr. Zam has invested K30,000 for 4 years at 12% rate of interest.

(a) What will be the compound interest and amount after 4 years if it is compounding (a) Yearly;
or (b) Monthly?
(b) Find the number of years in which the sum will double itself at annual compound interest.
(c) What should be the annual compound interest rate to make the amount K60,000 after 4
years?

18. The difference between compound interest and simple interest on an amount of 15,000 for 2 years
is K96.Find the rate of interest per annum.

19. Calculate the APR for a 6% per annum nominal rate of interest that is compounded (a) 4 times
per year, (b) 12 times per year, (c) continuously.

20. How long should any sum of money be left on deposit at 4.5% APR if the value of the deposit is
to increase by 70%?

21. Golden has K23,000. he invested some amount in scheme 1 at a simple interest of 20% and the
remaining amount in scheme 2 at 10%. If Golden got the same amount from both of the schemes
at the end of one year. Calculate how much in (Kwacha) Golden invested in scheme B?

Bupe kolosa (Mr) 2