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TABLE 2 shows data for South African assessed taxpayers for the 2018 tax year - NSC Mathematical Literacy - Question 3 - 2021 - Paper 2

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TABLE 2 shows data for South African assessed taxpayers for the 2018 tax year. TABLE 2: TAXPAYERS BY INCOME GROUP AS ASSESSED FOR 2018 | Taxable income group |... show full transcript

Worked Solution & Example Answer:TABLE 2 shows data for South African assessed taxpayers for the 2018 tax year - NSC Mathematical Literacy - Question 3 - 2021 - Paper 2

Step 1

3.1.1 Calculate missing value C.

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Answer

To calculate the missing value C, we sum up all the taxable income assessed from each income group:

  • Less than R1: -16 302
  • R1 to R70 000: 15 030
  • R70 001 to R350 000: 577 196
  • R350 001 to R500 000: 297 012
  • More than R500 000: 783 526

So,

C=16302+15030+577196+297012+783526=1656462C = -16 302 + 15 030 + 577 196 + 297 012 + 783 526 = 1 656 462

Thus, value C is 1 656 462 million.

Step 2

3.1.2 Determine, to THREE decimal places, the probability of randomly choosing an assessed taxpayer if South Africa's population was 57,73 million in 2018.

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Answer

The probability P of randomly choosing an assessed taxpayer is given by the formula:

P=Number of taxpayersTotal population=4917029577300000,085P = \frac{\text{Number of taxpayers}}{\text{Total population}} = \frac{4 917 029}{57 730 000} \approx 0,085

Rounded to three decimal places, the probability is approximately 0,085.

Step 3

3.1.3 Calculate, in rand, the mean monthly taxable income per taxpayer in the R70 001 to R350 000 taxable income group.

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Answer

To find the mean monthly taxable income per taxpayer in the R70 001 to R350 000 group, we use:

Mean=Total taxable incomeNumber of taxpayers=5771960002856643R202096,397\text{Mean} = \frac{\text{Total taxable income}}{\text{Number of taxpayers}} = \frac{577 196 000}{2 856 643} \approx R202 096,397

The mean monthly taxable income is approximately R202 096,40.

Step 4

3.1.4 Explain, showing calculations, how the percentage for tax assessed is 0,0% for the taxable income group R1 to R70 000.

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Answer

To find the percentage for the tax assessed in the R1 to R70 000 group, we use:

Percentage=Tax assessedTaxable income×100=1630215030×100=1,090,0\text{Percentage} = \frac{\text{Tax assessed}}{\text{Taxable income}} \times 100 = \frac{-16 302}{15 030} \times 100 = -1,09 \approx 0,0%

Since we'd round -1,09% to 0,0%, this explains why the tax assessed percentage is shown as 0,0%.

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