Let’s work on questions 21-22 from Set 25 of the 2015 First-Class Constructor Examination in Engineering Economics – multiple-choice questions

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The last edit to this post was made by Desert Fish on 2015-10-26 at 06:55. I’ve gathered some questions from this year’s First-Class Constructor exam, along with their answers. I’m sharing them here to encourage more people to participate. Instead of posting all the questions at once, I’ll present a few multiple-choice questions or one case study at a time, with the answers hidden. The answer will be visible after responding. Everyone is welcome to participate; the moderator will give a reward for correct answers. ******************************************21. A company borrowed 300,000 yuan from the bank at the beginning of the first year and again at the end of the same year, with an annual interest rate of 10%, calculated on a compound basis. The loan was to be repaid in equal installments over the years 3 to 5. The amount to be repaid at the end of each year is. A.20.94 B.23.03 C.27.87 D.31.57【Answer】D【Expert Explanation】The amount to be repaid each year, when converted to an equivalent value at a certain point in time, should be equal to the amount of the loan at that same point in time. It is convenient to use the end of year 5 as this reference point. Assume A is repaid annually ； A* (F/A,10%,3) = 30 * (F/P,10%,5) * 30 * (F/P,10%,4); just plug in the values into the formula to calculate it. These types of questions are quite demanding, but there are still ways to solve them if you can’t recall the formulas. Bring in the data and set it equal to 0 or the end of year 5, to see if the equality condition is met; at this point, B and C can be used. If using B results in a relatively high amount for equal installment payments, it means that such an amount isn’t necessary, in which case choose A ； If they are exactly equal, choose B ； If it is smaller, then it is fed back into C; again, either excluded or directly selected. See pages P10-P11 of the textbook ； 22. A construction company is formulating labor quotas for brick wall construction; it has data on the labor hours required for similar projects over the past 5 years. What is the appropriate method to use for establishing these labor quotas? A. Technical measurement method B. Comparative analogy method C. Statistical analysis method D. Empirical estimation method Answer: C 【Expert explanation】Since there is data on similar projects from the past 5 years, the repetition of tasks is high, which meets the conditions for statistical analysis.