David is a 68-year-old man who works at a grocery store in Swellendam - NSC Mathematical Literacy - Question 2 - 2023 - Paper 1
Question 2
David is a 68-year-old man who works at a grocery store in Swellendam.
ANNEXURE A shows an extract of David's Bank Statement for the period 1 November 2022 to 1 Dec... show full transcript
Worked Solution & Example Answer:David is a 68-year-old man who works at a grocery store in Swellendam - NSC Mathematical Literacy - Question 2 - 2023 - Paper 1
Step 1
Write down the type of account David has.
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Answer
David has a cheque account.
Step 2
Determine the total amount paid for service fees (##).
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Answer
The total service fees can be calculated by summing the amounts listed in the bank statement. In this case:
Total Fees = R180,60 + R110,00 = R290,60.
Step 3
David's net salary paid into his account is labelled A.
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David's net salary, labelled as A in the statement, is R7 978,00.
Step 4
Verify, showing ALL calculations, if his statement is CORRECT.
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Answer
To verify his statement:
Total insurance = R940,30 (monthly total)
David's net salary = R7 978,00
Percentage calculation:
ext{Percentage of salary} = rac{940.30}{7978.00} imes 100 \
= 11.78%.
Since 11.78% is less than 1/4 (25%), David's statement is INCORRECT.
Step 5
The fixed monthly service fee of R110,00 on 30/11/2022 includes VAT of 15%.
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