Amooli Siya has a savings account at CPT Bank - NSC Mathematical Literacy - Question 2 - 2017 - Paper 1

Calculate the monthly interest using the following formula:

$I = P \times r \times t$

Where:

• $I$ is the interest earned,
• $P$ is the principal amount,
• $r$ is the interest rate per annum (converted to a monthly rate),
• $t$ is the time in months, which is 1 for this calculation.

An example of a possible account number could be 14326000XX, where 'XX' represents the last four digits that are omitted to maintain security.

The name of the person who transferred money into the account can be found in the transaction details provided in ANNEXURE A.

Review the statement on ANNEXURE A to count the number of transactions listed as 'unprocessed' and record the total.

The probability can be calculated using the formula:

$P = \frac{Favorable \: outcomes}{Total \: outcomes}$

Where the favorable outcomes are the number of transactions within the specified date range, and total outcomes are the total transactions within the statement period.

(a) To show how this amount was calculated, note that R19,60 includes VAT. The VAT can be extracted using the formula for VAT-inclusive prices:

$Amount \: without \: VAT = \frac{Total \: amount}{1 + VAT \: rate}$

Assuming a VAT rate of 14%:

$Amount \: without \: VAT = \frac{R19,60}{1 + 0.14} = R17,19$ (b) To calculate the VAT amount:

$VAT \: amount = Total \: amount - Amount \: without \: VAT$

Therefore:

$VAT \: amount = R19,60 - R17,19 = R2,41$

Identify the income-generating item from the provided budget in ANNEXURE B that contributes the highest revenue to the municipality.

To calculate the difference, subtract the preaudit outcome from the original budget value obtained from ANNEXURE B:

Reference ANNEXURE B for the expected income figure from service charges and round to one decimal place.

Use the values provided in ANNEXURE B to perform calculations necessary to identify the missing value B.

Total income can be calculated by summing all income figures listed in ANNEXURE B. Compare total income to total expenditure to determine if there is a surplus or deficit.

Utilize the formula for percentage increase:

$Percentage \, increase = \frac{Difference \, in \, remuneration}{Original \, budgeted \, remuneration} \times 100$

Use the values from the respective years to perform this calculation.