Identify the currency that was left on the table for the waitron - NSC Tourism - Question 3 - 2018 - Paper 1
Question 3
Identify the currency that was left on the table for the waitron.
Add the total value of the foreign currency notes and coins left on the table.
Calculate how much... show full transcript
Worked Solution & Example Answer:Identify the currency that was left on the table for the waitron - NSC Tourism - Question 3 - 2018 - Paper 1
Step 1
3.1.1 Identify the currency that was left on the table for the waitron.
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Answer
The currency left on the table for the waitron was the Euro (EUR) as indicated by the coins shown alongside the exchange rate table.
Step 2
3.1.2 (a) Add the total value of the foreign currency notes and coins left on the table.
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Answer
The total value of the foreign currency left on the table amounts to 30 Euros.
Step 3
3.1.2 (b) Calculate how much the waitron could expect in rand when the owner of the restaurant exchanges the currency on behalf of the waitron.
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Answer
To find the value in South African Rand (ZAR), we use the buying exchange rate (BBR) for euros, which is 13.60. Therefore,
Total in ZAR = 30 Euros × 13.60 ZAR/Euro = ZAR 408.00.
Step 4
3.2 Calculate the amount the waitron received in rand.
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Answer
A British tourist left 27 British pounds on the table for the waitron. To calculate the amount in rand the waitron received, we use the buying exchange rate (BBR) for GBP, which is 16.00. Therefore,
Total in ZAR = 27 GBP × 16.00 ZAR/GBP = ZAR 432.00.
Step 5
3.2.2 (a) Compare the two scenarios above in terms of the value of the tips the waitron has received.
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Answer
The waitron received more value in rand from the British tourist (ZAR 432.00) compared to the amount received from the European tourist (ZAR 408.00).
Step 6
3.2.2 (b) Explain how the gratuities (tips) received can add to the multiplier effect in the nearby community.
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The gratuities received by the waitron set the multiplier effect in motion, which enhances the waitron's spending power in the local community. This additional income can benefit many local businesses and households, stimulating economic activity as the waitron spends the tips received in shops, restaurants, and services.
