Mathematics – NBC Institute

QTB – May 2017 – L1 – SB – Q3a – Mathematics

Determine the annual savings required to accumulate a future sum under annuity terms.

Question

A lawyer plans to save a certain amount of money per annum for 5 years on the first day of the year. If the interest rate is 8%, for him to receive N696,910.50, determine x. (10 Marks)

Answer

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Tags: Annuity, Interest Rate, Present Value, Savings
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SB – Q1a – Mathematics

Machine replacement time and net earnings calculation considering repair costs.

Question

a. A manufacturing company has purchased a machine generating earnings (₦’000) at time t of , where t is in years. The repair and maintenance cost at time t is
You are required to:

i. Determine when the machine should be replaced, assuming it has a zero salvage value. (4 Marks)

ii. Determine the total net earnings, including the cost of repairs and maintenance within the period of 11 years. (6 Marks)

Answer

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Tags: Depreciation, Machine Replacement, Net Earnings
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q7 – Mathematics

This question assesses understanding of histograms and their characteristics.

Question

Which of the following is NOT TRUE about a histogram?
A. A vertical rectangle is drawn to represent each class of the frequency distribution
B. A histogram is a graph of a grouped frequency distribution
C. The frequency of a class is represented by the height of its rectangle.
D. Histogram and bar charts look similar but they are constructed very differently.
E. The frequency of a class is represented by the area of the bar corresponding to the class.

Answer

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Tags: Business Mathematics, Data Representation, Graphs, Histogram
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q6 – Mathematics

This question asks to calculate the marginal revenue at a given sales volume.

Question

If the sales function of a company is given as what is the marginal revenue when

A. 122
B. 120
C. 125
D. 130
E. 135

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Mathematics, Calculus, Derivatives, Marginal Revenue
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q5 – Mathematics

A multiple-choice question asking for the point where the slope of a given function is zero.

Question

If , then the point at which the slope is zero is:

A. (-3,7)
B. (3,7)
C. (-3,-7)
D. (3,-7)
E. (3,-11)

Answer

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Tags: Calculus, Differentiation, Functions, Mathematical Modelling, Slope
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q4 – Mathematics

A multiple-choice question calculating the income left after tax deductions from the taxable income.

Question

A man earns N150,000 per annum. He is allowed a tax-free pay of N40,000. If he pays 25 kobo in the Naira as tax on his taxable income, how much has he left?

A. N102,500
B. N112,500
C. N122,500
D. N132,500
E. N142,500

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deductions, Income Tax, Personal Income, Taxable Income, Taxation
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q3 – Mathematics.

A multiple-choice question assessing knowledge of simultaneous equations and variable relations.

Question

Which of the following is NOT TRUE about simultaneous equations?

A. The number of variables must be equal to the number of equations.
B. Where two lines intersect, the values of the variables at that point must satisfy the equations.
C. The simultaneous equations must be satisfied by values of the variables as well as their reciprocals.
D. Their solution involves finding the values of the variables which are true to all the simultaneous equations.
E. The result of adding the equations or subtracting one equation from the other will be satisfied by the values of the variables.

Answer

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Tags: Algebra, Linear Equations, Mathematical Methods, Simultaneous Equations, Variables
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

Question

A company produces 16,000 units of a product. The total cost of producing these units is N60,000. If the fixed cost is N12,000, the variable cost per unit of the output is:

A. N7.00
B. N6.00
C. N5.00
D. N4.00
E. N3.00

Answer

Find Related Questions by Tags, levels, etc.

Tags: Break-even Analysis, Costing, Fixed Costs, Production Efficiency, Variable Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q1 – Mathematics.

A multiple-choice question calculating future value based on compound interest over 15 years at 8% annually.

Question

How much will N22,500 amount to at 8% interest over 15 years compounded annually?

A. N71,337.81
B. N71,373.81
C. N71,378.81
D. N71,387.81
E. N71,733.81

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Financial Mathematics, Future Value, Investment Growth, Time value of money
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

Question

The marginal cost of producing a particular item is given by

Required:
i. Find the total cost function , if the cost of producing 2 items is N1,660.
(7 marks)

ii. Find the cost of producing 50 items.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Finance, Integration, Marginal Cost, Total Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2016

QTB – May 2017 – L1 – SB – Q3a – Mathematics

Determine the annual savings required to accumulate a future sum under annuity terms.

Question

A lawyer plans to save a certain amount of money per annum for 5 years on the first day of the year. If the interest rate is 8%, for him to receive N696,910.50, determine x. (10 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annuity, Interest Rate, Present Value, Savings
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SB – Q1a – Mathematics

Machine replacement time and net earnings calculation considering repair costs.

Question

a. A manufacturing company has purchased a machine generating earnings (₦’000) at time t of , where t is in years. The repair and maintenance cost at time t is
You are required to:

i. Determine when the machine should be replaced, assuming it has a zero salvage value. (4 Marks)

ii. Determine the total net earnings, including the cost of repairs and maintenance within the period of 11 years. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Depreciation, Machine Replacement, Net Earnings
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q7 – Mathematics

This question assesses understanding of histograms and their characteristics.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Mathematics, Data Representation, Graphs, Histogram
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2017 – L1 – SA – Q6 – Mathematics

This question asks to calculate the marginal revenue at a given sales volume.

Question

If the sales function of a company is given as what is the marginal revenue when

A. 122
B. 120
C. 125
D. 130
E. 135

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Mathematics, Calculus, Derivatives, Marginal Revenue
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q5 – Mathematics

A multiple-choice question asking for the point where the slope of a given function is zero.

Question

If , then the point at which the slope is zero is:

A. (-3,7)
B. (3,7)
C. (-3,-7)
D. (3,-7)
E. (3,-11)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Calculus, Differentiation, Functions, Mathematical Modelling, Slope
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q4 – Mathematics

A multiple-choice question calculating the income left after tax deductions from the taxable income.

Question

A man earns N150,000 per annum. He is allowed a tax-free pay of N40,000. If he pays 25 kobo in the Naira as tax on his taxable income, how much has he left?

A. N102,500
B. N112,500
C. N122,500
D. N132,500
E. N142,500

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deductions, Income Tax, Personal Income, Taxable Income, Taxation
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q3 – Mathematics.

A multiple-choice question assessing knowledge of simultaneous equations and variable relations.

Question

Which of the following is NOT TRUE about simultaneous equations?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Algebra, Linear Equations, Mathematical Methods, Simultaneous Equations, Variables
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

Question

A company produces 16,000 units of a product. The total cost of producing these units is N60,000. If the fixed cost is N12,000, the variable cost per unit of the output is:

A. N7.00
B. N6.00
C. N5.00
D. N4.00
E. N3.00

Answer

Find Related Questions by Tags, levels, etc.

Tags: Break-even Analysis, Costing, Fixed Costs, Production Efficiency, Variable Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – MAY 2017 – L1 – SA – Q1 – Mathematics.

A multiple-choice question calculating future value based on compound interest over 15 years at 8% annually.

Question

How much will N22,500 amount to at 8% interest over 15 years compounded annually?

A. N71,337.81
B. N71,373.81
C. N71,378.81
D. N71,387.81
E. N71,733.81

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Financial Mathematics, Future Value, Investment Growth, Time value of money
Level: Level 1

Topic: Mathematics
Series: MAY 2017

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

Question

The marginal cost of producing a particular item is given by

Required:
i. Find the total cost function , if the cost of producing 2 items is N1,660.
(7 marks)

ii. Find the cost of producing 50 items.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Finance, Integration, Marginal Cost, Total Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2016

Topic: Mathematics

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QTB – May 2017 – L1 – SB – Q3a – Mathematics

Determine the annual savings required to accumulate a future sum under annuity terms.

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QTB – May 2017 – L1 – SB – Q1a – Mathematics

Machine replacement time and net earnings calculation considering repair costs.

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QTB – May 2017 – L1 – SA – Q7 – Mathematics

This question assesses understanding of histograms and their characteristics.

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QTB – May 2017 – L1 – SA – Q6 – Mathematics

This question asks to calculate the marginal revenue at a given sales volume.

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QTB – MAY 2017 – L1 – SA – Q5 – Mathematics

A multiple-choice question asking for the point where the slope of a given function is zero.

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QTB – MAY 2017 – L1 – SA – Q4 – Mathematics

A multiple-choice question calculating the income left after tax deductions from the taxable income.

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QTB – MAY 2017 – L1 – SA – Q3 – Mathematics.

A multiple-choice question assessing knowledge of simultaneous equations and variable relations.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q3 – Mathematics."

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q2 – Mathematics."

QTB – MAY 2017 – L1 – SA – Q1 – Mathematics.

A multiple-choice question calculating future value based on compound interest over 15 years at 8% annually.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q1 – Mathematics."

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

You're reporting an error for "QTB – May 2016 – L1 – SB – Q5a – Mathematics"

QTB – May 2017 – L1 – SB – Q3a – Mathematics

Determine the annual savings required to accumulate a future sum under annuity terms.

You're reporting an error for "QTB – May 2017 – L1 – SB – Q3a – Mathematics"

QTB – May 2017 – L1 – SB – Q1a – Mathematics

Machine replacement time and net earnings calculation considering repair costs.

You're reporting an error for "QTB – May 2017 – L1 – SB – Q1a – Mathematics"

QTB – May 2017 – L1 – SA – Q7 – Mathematics

This question assesses understanding of histograms and their characteristics.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q7 – Mathematics"

QTB – May 2017 – L1 – SA – Q6 – Mathematics

This question asks to calculate the marginal revenue at a given sales volume.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q6 – Mathematics"

QTB – MAY 2017 – L1 – SA – Q5 – Mathematics

A multiple-choice question asking for the point where the slope of a given function is zero.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q5 – Mathematics"

QTB – MAY 2017 – L1 – SA – Q4 – Mathematics

A multiple-choice question calculating the income left after tax deductions from the taxable income.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q4 – Mathematics"

QTB – MAY 2017 – L1 – SA – Q3 – Mathematics.

A multiple-choice question assessing knowledge of simultaneous equations and variable relations.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q3 – Mathematics."

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q2 – Mathematics."

QTB – MAY 2017 – L1 – SA – Q1 – Mathematics.

A multiple-choice question calculating future value based on compound interest over 15 years at 8% annually.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q1 – Mathematics."

QTB – May 2016 – L1 – SB – Q5a – Mathematics

This question involves finding the total cost function and the cost of producing 50 items using marginal cost and integration.

You're reporting an error for "QTB – May 2016 – L1 – SB – Q5a – Mathematics"

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