Dean Peterson has a clothing account at Markham clothing store. At Markham a customer can choose either a 6-month or a 12-month revolving (ongoing) payment option. ANNEXURE A shows Dean's clothing store statement from Markham for a certain period of the year. Use ANNEXURE A to answer the questions that follow. 2.1.1 Write down the total balance owing on Dean's account. 2.1.2 Give the full date on which the current installment is due. 2.1.3 State the opening balance of the 12-month revolving account option. 2.1.4 Write down the price of the item that was returned. 2.1.5 Determine the total amount paid using FNB electronic payments. 2.1.6 Calculate the price of the item purchased on 19 December 2018, excluding VAT.

NSC Mathematical Literacy Graphs going up (increasing) and down (decreasing): Dean Peterson has a clothing acc

Dean Peterson has a clothing account at Markham clothing store - NSC Mathematical Literacy - Question 2 - 2020 - Paper 1

Question 2

Dean Peterson has a clothing account at Markham clothing store. At Markham a customer can choose either a 6-month or a 12-month revolving (ongoing) payment option. ... show full transcript

Worked Solution & Example Answer:Dean Peterson has a clothing account at Markham clothing store - NSC Mathematical Literacy - Question 2 - 2020 - Paper 1

Step 1

2.1.1 Write down the total balance owing on Dean's account.

96%

114 rated

Answer

The total balance owing on Dean's account is R4 656,71.

Step 2

2.1.2 Give the full date on which the current installment is due.

99%

104 rated

Answer

The full date on which the current installment is due is 01 February 2019.

Step 3

2.1.3 State the opening balance of the 12-month revolving account option.

96%

101 rated

Answer

The opening balance of the 12-month revolving account option is R3 750,00.

Step 4

2.1.4 Write down the price of the item that was returned.

98%

120 rated

Answer

The price of the item that was returned is R215,36.

Step 5

2.1.5 Determine the total amount paid using FNB electronic payments.

97%

117 rated

Answer

The total amount paid using FNB electronic payments is R800,00.

Step 6

2.1.6 Calculate the price of the item purchased on 19 December 2018, excluding VAT.

97%

121 rated

Answer

The price of the item excluding VAT is calculated as follows:

Let the price including VAT be R4 000.00.

The formula for calculating the price excluding VAT is:

$ext{Price excluding VAT} = \frac{\text{Price including VAT}}{1 + \text{VAT Rate}}$

Now substituting the values: $ext{Price excluding VAT} = \frac{4000}{1.15} = R3 478,26$

Dean Peterson has a clothing account at Markham clothing store - NSC Mathematical Literacy - Question 2 - 2020 - Paper 1

Worked Solution & Example Answer:Dean Peterson has a clothing account at Markham clothing store - NSC Mathematical Literacy - Question 2 - 2020 - Paper 1

2.1.1 Write down the total balance owing on Dean's account.

2.1.2 Give the full date on which the current installment is due.

2.1.3 State the opening balance of the 12-month revolving account option.

2.1.4 Write down the price of the item that was returned.

2.1.5 Determine the total amount paid using FNB electronic payments.

2.1.6 Calculate the price of the item purchased on 19 December 2018, excluding VAT.

Join the NSC students using SimpleStudy...