7/28/2019 Business Calculations L2 Past Paper Series 4 2008
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2003/4/08 Page 6 of 6 Education Development International plc
2008
QUESTION 7
A small trader has four computers costing 500, 600, 760 and
800.
(a) Calculate the average cost per computer.(3 marks)
The trader sells the 800 computer and buys 3 more computers at
500 each.
(b) Calculate:
(i) The total cost of the 6 computers now owned by the trader.(2
marks)
(ii) The new average cost per computer.(2 marks)
The trader sells 3 computers for 2,050, and issues a statement
of account.The statement offers a discount of 2% for payment within
28 days.
(c) How much will the trader receive if payment is made within
28 days?(3 marks)
(Total 10 marks)
QUESTION 8
Geraldine and Henry set up a partnership business on 1 January
with invested capitals of105,000 and 90,000 respectively. On 1 July
they shared profits of 39,000 in proportion totheir capital
invested.
(a) Calculate how much Geraldine received as her share of
profits for the first 6 months oftrading.
(3 marks)
At the start of the second year of trading, Ian invested
$150,000 in the partnership at anexchange rate of 0.48 = $1.
(b) Giving your answer in its simplest terms, calculate the
ratio of investments of thethree partners, Geraldine : Henry : Ian,
in the second year of trading.
(3 marks)
At the end of the second year of trading, Henry received 10,800
as his share of the profits.Geraldine also received a salary of
1,650 per month for 7 months.
(c) Calculate how much, in total, Geraldine received in salary
and profits for the second year oftrading.
(3 marks)
During the third year of trading, the total capital invested was
360,000 in the ratioGeraldine : Henry : Ian = 6 : 5 : 4. Each
partner received interest on capital of 2%.
(d) Calculate how much Ian received in interest on capital.(3
marks)
(Total 12 marks)
(Total 100 marks)
