FUNDAMENTALS OF BUSINESS MATHEMATICS AUGUST 2022 PAST PAPER

TUESDAY: 2 August 2022.   Afternoon paper     Time Allowed: 2 hours.

This paper is made up of fifty (50) Multiple Choice Questions. Answer ALL questions by indicating the letter (A, B, C or D) that represents the correct answer. Do NOT write anything on this paper.

1. Find the value of;

If x = w-1, w = 4, y = w + x
A. 13
B. 10
C. 8
D. 14     (2 marks)

2. Simplify:
4(3x + 2y) – 3(2x – y)
A. 12x + 11y
B. 11x + 6y
C. 6x – 11y
D. 6x + 11y     (2 marks)

3. A businessman borrowed Sh.3,200,000 from Inua bank at a simple interest rate of 14% per annum with a repayment period of 3 years. Calculate the total interest paid on the loan.
A. Sh.134,400
B. Sh.448,000
C. Sh.1,344,000
D. Sh.4,544,000    (2 marks)

4. James Mbugua bought a motor vehicle for Sh.4,500,000. The motor vehicle depreciates at the rate of 15% per annum. Calculate the net book value of the motor vehicle after six years using the straight line method.
A. Sh.4,050,000
B. Sh.450,000
C. Sh.675,000
D. Sh.750,000   (2 marks)

5. A factory hires 15 men to complete a piece of work in 24 days. How many more men are needed to complete the work in 10 days?
A. 21
B. 36
C. 12
D. 10      (2 marks)

6. The mean ages of six students is 30 years. The ages of five of the students are 25,37,32,27 and 34 years.
Find the modal age of the six students.
A. 25
B. 27
C. 34
D. 32    (2 marks)

7. The table below shows the size of shoes made in one week in a shop.

Find the mean shoe size.
A. 4.6
B. 3.8
C. 9
D. 4     (2 marks)

8. There are 180 male students and 240 female students in Bidii College of Accountancy. Determine the ratio of male to female students as a fraction expressed in its simplest form.
A. 1/4
B. 2/3
C. 5/8
D. 3/4
(2 marks)

9. Increase 480 in the ratio of 6:5.
A. 563
B. 576
C. 400
D. 476    (2 marks)

10. The number of Covid-19 pandemic cases reported in the country decreased to 480 from 540 in the month of April 2022. What was the ratio decrease?
A. 4:7
B. 8:9
C. 9:8
D. 4:9        (2 marks)

11. Work out;

(2 marks)

12. In an agricultural show held in Kilimo farm 1⁄3 of the participants took orange juice, 2⁄5 of the remainder took apple juice while the rest took passion juice. What fraction took passion juice?
A. 1/3
B. 2/3
C. 4/15
D. 2/5         (2 marks)

13. Workout:

A. 3750
B. 37.5
C. 3.75
D. 18.75       (2 marks)

14. The price of a jacket was increased by Sh.400. If this was a 20% increase, what was the price of the jacket before the price increase.
A. Sh.2,400
B. Sh.1,800
C. Sh.1,600
D. Sh.2,000   (2 marks)

15. Duncan Maina is three times as old as his sister. Ten years ago, their total age was 24 years. How old will Duncan be in 3 years’ time?
A. 36 years
B. 14 years
C. 11 years
D. 33 years   (2 marks)

16. Mercy Mulwa bought a watch for Sh.342 after she was allowed a discount. If the marked price was Sh.360, what was the percentage discount?
A. 5%
B. 18%
C. 22%
D. 6  1/9%    (2 marks)

17. The ratio of men to women in a meeting was 4:5. There are 70 more women than men in the meeting. How many women were there?
A. 350
B. 630
C. 280
D. 400     (2 marks)

18. After paying a commission of 7% of the price of a vehicle to an agent, the owner of the vehicle was left with Sh.232,500. How much was paid to the agent.
A. Sh.17,500
B. Sh.17,275
C. Sh.16,275
D. Sh.25,000     (2 marks)

19. Data that has been previously gathered and can be accessed by researchers is referred to as:
A. Primary data
B. Published data
C. Secondary data
D. Research         (2 marks)

20. Stephen Yegon paid Sh.1,800 for an item after he was allowed a discount of 10%. How much was the marked price of the item.
A. Sh.2,000
B. Sh.1,980
C. Sh.1,620
D. Sh.2,180       (2 marks)

21. Simplify;
1⁄2 (2x – 14y – 6) + 1⁄4 (8x + 36y + 12)
A. 3x + 2y – 6
B. 3x + 2y + 6
C. 3x + 2y
D. 3x + 16y + 6      (2 marks)

22. A man deposited Sh.60,000 in a bank account. After 2   1/2 years, he withdrew a total of Sh.68,250. At what rate per annum was the money earning the interest.
A. 51/2 %
B. 5%
C. 11.4%
D. 71/2%         (2 marks)

23. Round off 499.9972 to the nearest hundredths.
A. 499.99
B. 499.00
C. 500.10
D. 500.00      (2 marks)

24. The pie chart below shows how students at Tumaini College chose their favourite sports:

If 18 students chose football, what is the total number of students taking sports?
A. 36
B. 48
C. 54
D. 60     (2 marks)

25. Grace, Alice and John are in a partnership business. They share profits in the ratio of 3:4:3. The partnership made a profit of Sh.1,540,000 in the financial year ended 30 June 2022. Calculate the share of profits received by Alice.
A. Sh.154,000
B. Sh.308,000
C. Sh.616,000
D. Sh.462,000       (2 marks)

26. Jane deposited Sh.700,000 in a fixed deposit account which offers a compound interest of 5% per annum.
Calculate the amount received by Jane after the maturity period of 4 years.
A. Sh.850,854.38
B. Sh.150,854.38
C. Sh.140,000
D. Sh.840,000           (2 marks)

27. The incentive offered by a seller to the buyer to encourage bulk buying is referred to as?
A. Cash discount
B. Quantity discount
C. Special offer
D. Margin               (2 marks)

28. Which of the following is not a measure of dispersion?
A. Variance
B. Range
C. Quartile deviation
D. Harmonic mean         (2 marks)

29. Determine the median value of the following data:
12,15,22,30,18
A. 18
B. 15
C. 30
D. 22                 (2 marks)

30. The data value with the highest frequency in a set of data is referred to as?
A. Mean
B. Median
C. Outlier
D. Mode           (2 marks)

31. Which of the following is not a method of data collection?
A. Questionnaire
B. Sampling
C. Observation
D. Interview     (2 marks)

32. Which of the following sampling methods is a probability method?
A. Judgement
B. Quota sampling
C. Simple random sampling
D. Convenience sampling       (2 marks)

33. The graph obtained by joining the mid-points of the top horizontal parts of adjacent rectangles in a histogram is referred to as?
A. Ogive
B. Pie-chart
C. Bar chart
D. Frequency polygon     (2 marks)

34. The difference between the upper and lower class boundaries of a class are known as?
A. Class mid-point
B. Class mark
C. Class frequency
D. Class interval       (2 marks)

35. It two events are such that the occurrence or non-occurrence of one event affects the occurrence or non-occurrence of the other event, the two events are said to be?
A. Mutually exclusive events
B. Collectively exhaustive events
C. Independent events
D. Dependent events     (2 marks)

36. The probability of two events happening together is referred to as?
A. Joint probability
B. Conditional probability
C. Bayes theorem
D. Marginal probability      (2 marks)

37. Two events are said to be independent.
A. If they cannot happen together
B. If the occurrence or non-occurrence of one affects the occurrence or non-occurrence of the other.
C. If the occurrence or non-occurrence of one does not affect the occurrence or non-occurrence of the other.
D. If the occurrence of one event prevents the occurrence of the other event         (2 marks)

38. There are 3 apples, 4 oranges and 6 mangoes in a shopping basket. What is the probability of picking a mango?
A. 3/13
B. 4/13
C. 6/13
D. 4/10        (2 marks)

39. Solve the following simultaneous equations;

(2 marks)

40. Differentiate the following equation with respect to x.

(2 marks)

41. Profit expressed as a percentage of sales is referred to as?
A. Mark up
B. Margin
C. Gross profit
D. Net profit      (2 marks)

42. Given the profit margin of an item is 2/7, calculate the profit mark up.

A. 2/3
B. 2/9
C. 2/5
D. 2/7      (2 marks)

43. An employee earns a taxable income of Sh.30,000 per month. If the rate of tax is 12%, calculate the net income.
A. Sh.3,600
B. Sh.26,400
C. Sh.33,600
D. Sh.43,200    (2 marks)

44. A company pays its casual employees on an hourly rate of Sh.320 per hour. If Phillip Ochieng’ worked for 42 hours in a certain week, calculate the gross pay.
A. Sh.14,000
B. Sh.67,200
C. Sh.13,440
D. Sh.94,080      (2 marks)

45. Robert Wambua purchased a book at Sh.375. He intends to make a profit mark up of 30% on sale of the book.
Calculate his selling price.
A. Sh.112.50
B. Sh.262.50
C. Sh.461.54
D. Sh.487.50       (2 marks)

46. Round off the following number to three decimal places 29.99999999.
A. 30.999
B. 29.999
C. 30.000
D. 30.001             (2 marks)

47. Convert 5/8 into a percentage.
A. 62.5%
B. 37%
C. 63%
D. 40%       (2 marks)

48. Frequency tables is an arrangement of data by ______________________and their corresponding _____________
A. Classes, frequencies
B. Frequencies, interval
C. Classes, categories
D. None of the above     (2 marks)

49. The probability of a sure event is given by.
A. 0
B. 1
C. -1
D. ∞            (2 marks)

50.

(2 marks)

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