NCV 2 Mathematical Literacy Hands-On Training Activities Module 2

Mathematical Literacy 2Module 2

Answers to Activities

1Mathematical Literacy Future Managers

Expense Item Budget Amount

Amount Spent

Variance amount

% Variance Adapted Budget

Rental R650

Creche R350

Food R900

Taxi R300

Phone R150

Entertainment R100

Saved R250 -

Clothes R200

Lotto R50

Cigarettes R100

Medical

Total 3050

R650

R400

R900

R400

R150

R100

R0

R200

R150

R204

R500

R3654

R0

R50

R0

R100

R0

R0

-R250

R0

R100

R104

R500

0%

14%

0%

33%

0%

0%

-100%

0%

300%

204%

----%

R650

R400

R900

R400

R150

R50

R0

R100

R50

R100

R400

R3200R604

Activity 4Assuming that you are banking at Wonderbank, answer the following questions:

a)If you want to withdraw R500 cash at the Wonderbank ATM, how much will it cost you?

b)How much will it cost you if you withdraw the same amount from an ATM of any other bank

c)At Wonderbank, if you have to go inside the bank to withdraw at the teller, how much will that cost?

R3.10+0.9% = R3.10 +R4,50 = R7,60

R8,40

R17,50 + 0.9% = R17,50 + R4,50 = R22,00


d) Writing out a cheque for the same amount, what will the bank fee on that be?

e) If the R500 was meant to pay an account, how much will it cost to link the account and pay it electronically?

f) Two other methods of payment are the internet and telephone banking. How much will they cost you?

R3,10 + R5,50 = R8,60

R3,10 + 0.6% = R3,10 + R3,00 = R6,10

R214Mathematical Literacy Future Managers

g) How much will it cost you to deposit money at the ATM and inside the bank?

h) What is the cost if you unsuspectingly deposit a fraudulent cheque?

ATM=3,10 + 0.90% = R7,60

Teller = R17,50 + 0.90% = R22,00

R31,50


Activity 6Word Income Expenses

Deposit

Card Levy

Overdraft Interest

Administration fee

Interest

Internet banking cost

Transfer cost

Cheque deposit

Opening balance

Cheque payment

Cheque payment reversal

x

x

xx

x

x

x

x

x

x

x

Activity 6Date Branch Transaction Description Funds

inFunds out

Balance

17/05/07 PicknPay1 PNP purch CB fee 0,55 6744,79

19/07/07 Head Office

Electronic Dep 5000

25/05/07 Biesiesfontein Str

Cheque Deposit 535,00

26/07/07 ATM Fontein Str

Cash Withdrawal 500

31/07/07 Head Office

Monthly fee 2,00

11744.79

12279.79

11779.79

11777.79

Still money left in the

bank account

Activity 6Date Ref Description Fees Db Cr Bal

12/07/08 518 Council 4.25 104.52 -655.81

25/07/08 Internet Salary 2968.25

25/07/08Debit Order

Foschini 4.86 160

30/07/08Debit Order

TV 3.31 18.81

30/07/08 Service fee Cheq 35.00

30/07/08 Serv. Fee Card 2.00

30/07/08 Over the limit 79.00 2009.46

2312.44

2147.58

2125.46

2090.46

2088.46

Activity 7

T J Motors

14/07/2006

Three thousand two hundred

and ninety five rand and 67/100 3295.67

B Mokoena

Activity 8

Florence Mokoena

08 05 23

550 00

550 00

Florence MokoenaF Mokoena

Activity 9

Sparkie Welders (Pty) Ltd

Employee name: Mr B. MokoenaWalter Sisulu DriveBotshabelo3488

ID no: 686070068092Payment date: 25/04/08

Part time hours Earnings Deductions25,50 4011,15 Tax: 1002,79

UIF: 40,11

Nett Pay2968,25


Activity 91. Why is it necessary to have the ID no of Mr

Mokoena?

2. How much does he earn per hour?

3. What percentage of his gross payment is claimed by SARS?

The ID is needed for tax purposes, to uniquely identify Mr Moekena

Earnings per hour = R4011,15 25.5 hours=R157,3 per hour

Percentage tax = R1002,79 4011,15 x 100 =25%


Activity 9d. What do you think happens to the UIF

contributions that are subtracted each month?

e. Check whether net pay has been calculated correctly.

UIF contributions go into the Unemployment insurance fund, which he can claim from if he becomes unemployed

Net pay = Gross pay – Tax – UIF=4011,15 – 1002,79 – 40,11=2968.25Therefore net pay has been calculated correctly


Activity 10


Activity 101. What was the balance bought forward on this

account?

2. How much does it cost annually for wastage removal?

Balance bought forward = R0,00

Annual waste removal = monthly waste removal x 12

= R58,68 x 12

=R704,16


3. No amount is mentioned for water, why not?

4. Electricity is also not listed. Why not?

5. On what date did the council take their actual reading? What was their estimated amount?

Water is paid on a separate bill

Electricity is prepaid


Sewerage was read on 16/05/07. The estimated consumption was 2.824kl

6. Why was the previous month’s total account the same as the current month’s account?

7. How many litres is the basic charge and what was council’s estimate of usage?

The fees are calculated on an annual basis, and divided by 12 to give a monthly figure

Basic charge = R33,00

Estimation of usage = 2,824kl


8. Sewerage usage is based on the water usage of a household. A percentage rate is used. If the rate is 15%, how much water did the Mokoena family use?

9. Did Benni Mokoena pay his account on time, or did he fall behind on his council payments as well?

Water usage = Sewerage usage 15 x 100

=2,824kl 15 x 100

=18.827kl

He paid his account on time18Mathematical Literacy Future Managers

Activity 11


a. What does “closing balance” mean?

b. What does “90 days +” mean?

c. What is the total amount that Mrs Mokoena will have to pay to settle the account?

It means the balance at the end of the month

It is the amount of credit that is older than 90 days

Balance = R1859,00


d. The “instalment due” is the sum of two amounts. Give these two amounts as well as the total instalment on this account

e. Why is there a difference between the amount due and the amount of R190 that is given as the answer to the question, “what is my instalment?” Explain your answer.

Instalment due = R55 + R105 = R160


Possibly since she already paid R30 of the installment

f. What is the maximum prescribed interest rate by the NCA and what rate is Foschini promising it customers?

g. How much interest is she paying in July? Give the amount.

Maximum prescribed rate = 22.5% + 8.4% = 30.9%

Foschini rate = 22.5%

Interest in July = R18,47 +14,34 = R32,81


h. In fine print beneath the account, the following is typed: “A fine of 10% is levied for late payments. How much will her balance be if she is one month late?

Late payment = amount due x 10%

=160 x 0.1 = R16


Activity 121. Is Benni correct in thinking that buying a “22

day” ticket will be the cheapest option?

Type of ticket Amount Trips Cost per ticket

5 day 73,30 10 R7,33

6 day 88,00 12 R7,33

7 day R102,70 14 R7,34

22 day R322,60 44 R7,33

26 day R381,20 52 R7,33

Therefore the tickets all cost the same amount


2. What is his total monthly transport cost if he works a 5 day week?

Assuming 5 day week = 22 day month

Total monthly transport cost = 22 x (Bus + Taxi)

= 22 x (R7,33 + R4)

= 22 x R11,33

= R249,26


Means of transport

Taxi Bus

Leg 1

Leg 2

R7,33

R7,33

Question 3

Activity 141. What is the difference between a debit amount and a

credit amount?

2. AC

Opening Balance 17,947.57

Date Description Amt Bal Bnk Ch

15 Apr Magtap H. Harris Flowers

23 Apr Internet pay C. Smith Baskets

27 Apr Teller Cash Stellenbos

27 Apr Handling fee

28 Apr Db Crd Pr PnP 479056300753

30 Apr Magtape Cred Salary

2 May Magtape Cred Vodacom 061221 2007

2 May Stop Order Old Mutual 30000872

3 May ATM Cash

4 May Internet Pay Municipal 101-531-700

Activity 151. Who is the beneficiary of this salary slip?

2. How much UIF will he pay in a year is his income is a fixed amount?

Willie Syothula

Annual UIF = Monthly UIF x 12

=R92.75 x 12

=R1 113.00


Activity 153. What percentage of his salary does he

contribute to the UIF?

4. How much will his gross salary be if he gets a 6.5% increase?

% contribution = UIF Total Salary x 100

=R92.75 R9275.00 x 100

= 1%

New salary = Old salary + Old salary x 6.5 100

= R9275 + R9275 x 6.5 100

=R9877.8830Mathematical Literacy Future Managers

Activity 161. Use the table below to determine which

transport option will be best to use if you have to travel to college. Motivate your answer.

Single Return Weekly Monthly

Train R4,00 R6,25 R25,90 R90,70

Taxi R3,00

Per trip Single Return Weekly Monthly

Train R4,00 R3,13 R2,59 R2,06

Monthly train is cheapest31Mathematical Literacy Future Managers

Activity 162. You get the opportunity to travel by plane to

Johannesburg on a cheap flight with Mango airlines. Calculate the total cost for a return trip if you have to take a taxi to Cape Town International Airport.

Single airfare = R239 Taxi = R75

Cost of Return trip = 2 x single airfares + 2 x taxi

= 2 x R239 + 2 x R75

=R628


Activity 163. Estimate your travelling time knowing that all airlines

require you to book in at least an hour before the departure time. Also, collecting your luggage at the other end takes on average 15 minutes. Your answer should explain the different travelling legs and the time each leg will take.

Taxi to airport 30 min

Check in at airport 1h15

Flight time 2hr

Luggage collection 30min

Arrange transport 15min

Taxi from airport = 45 min

Total time = 5 hr 15


NCV 2 Mathematical Literacy Hands-On Training Activities Module 2

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Transcript of NCV 2 Mathematical Literacy Hands-On Training Activities Module 2