Solutions to activities from Module 2 NCV 2 Mathematical Literacy Hands-On Training published by Future Managers (www.futuremanagers.net)

1. Mathematical Literacy 2
Module 2
Answers to Activities
Mathematical Literacy Future Managers 1

2. Expense Item Budget Amount Variance % Variance Adapted
Amount Spent amount Budget
Rental R650 R650 R0 0% R650
Creche R350 R400 R50 14% R400
Food R900 R900 R0 0% R900
Taxi R300 R400 R100 33% R400
Phone R150 R150 R0 0% R150
Entertainment R100 R100 R0 0% R50
Saved R250 R0 -
-R250 -100% R0
Clothes R200 R200 R0 0% R100
Lotto R50 R150 R100 300% R50
Cigarettes R100 R204 R104 204% R100
Medical R500 R500 ----% R400
Total 3050 R3654 R604 R3200

3. Activity 4
Assuming that you are banking at Wonderbank, answer
the following questions:
b)If you want to withdraw R500 cash at the Wonderbank
ATM, how much will it cost you?
R3.10+0.9% = R3.10 +R4,50 = R7,60
d)How much will it cost you if you withdraw the same
amount from an ATM of any other bank
R8,40
f)At Wonderbank, if you have to go inside the bank to
withdraw at the teller, how much will that cost?
R17,50 + 0.9% = R17,50 + R4,50 = R22,00
Mathematical Literacy Future Managers 3

4. a) Writing out a cheque for the same amount,
what will the bank fee on that be?
R3,10 + R5,50 = R8,60
c) If the R500 was meant to pay an account, how
much will it cost to link the account and pay it
electronically?
R3,10 + 0.6% = R3,10 + R3,00 = R6,10
e) Two other methods of payment are the internet
and telephone banking. How much will they
cost you?
R21
Mathematical Literacy Future Managers 4

5. a) How much will it cost you to deposit money at
the ATM and inside the bank?
ATM=3,10 + 0.90% = R7,60
Teller = R17,50 + 0.90% = R22,00
d) What is the cost if you unsuspectingly deposit
a fraudulent cheque?
R31,50
Mathematical Literacy Future Managers 5

6. Activity 6
Word Income Expenses
Deposit x
Card Levy x
Overdraft Interest x
Administration fee x
Interest x
Internet banking cost x
Transfer cost x
Cheque deposit x
Opening balance x
Cheque payment x
Cheque payment
x
reversal

7. Activity 6
Date Branch Transaction Description Funds Funds Balance
in out
17/05/07 PicknPay1 PNP purch CB fee 0,55 6744,79
19/07/07 Head Electronic Dep 5000
Office 11744.79
25/05/07 Biesiesfon Cheque Deposit 535,00
tein Str 12279.79
Still money
26/07/07 ATM Cash Withdrawal left in the bank 500
Fontein account 11779.79
Str
31/07/07 Head Monthly fee 2,00
11777.79
Office

8. Activity 6
Date Ref Description Fees Db Cr Bal
12/07/08 518 Council 4.25 104.52 -655.81
25/07/08 Internet Salary 2968.25 2312.44
Debit 2147.58
25/07/08 Foschini 4.86 160
Order
Debit
30/07/08 TV 3.31 18.81 2125.46
Order
30/07/08 Service fee Cheq 35.00 2090.46
30/07/08 Serv. Fee Card 2.00 2088.46
30/07/08 Over the limit 79.00 2009.46

9. Activity 7
14/07/2006
T J Motors
Three thousand two hundred
3295.67
and ninety five rand and 67/100
B Mokoena

10. Activity 8
08 05 23
Florence Mokoena 550 00
550 00
Florence Mokoena
F Mokoena

11. Activity 9
Sparkie Welders (Pty) Ltd
Employee name: Mr B. Mokoena
Walter Sisulu Drive
Botshabelo ID no: 686070068092
3488 Payment date: 25/04/08
Part time hours Earnings Deductions
25,50 4011,15 Tax: 1002,79
UIF: 40,11
Nett Pay
2968,25
Mathematical Literacy Future Managers 11

12. Activity 9
1. Why is it necessary to have the ID no of Mr
Mokoena?
The ID is needed for tax purposes, to
uniquely identify Mr Moekena
4. How much does he earn per hour?
Earnings per hour = R4011,15 ÷ 25.5
hours
7. =R157,3 per hourof his gross payment is
What percentage
claimed by SARS?
Percentage tax = R1002,79 ÷ 4011,15 x 100
=25%
Mathematical Literacy Future Managers 12

13. Activity 9
a. What do you think happens to the UIF
contributions that are subtracted each month?
UIF contributions go into the Unemployment
insurance fund, which he can claim from if he
becomes unemployed
e. Check whether net pay has been calculated
correctly.
Net pay = Gross pay – Tax – UIF
=4011,15 – 1002,79 – 40,11
=2968.25
Therefore net pay has been calculated correctly
Mathematical Literacy Future Managers 13

14. Activity 10
Mathematical Literacy Future Managers 14

15. Activity 10
1. What was the balance bought forward on this
account?
Balance bought forward = R0,00
3. How much does it cost annually for wastage
removal?
Annual waste removal = monthly waste
removal x 12
= R58,68 x 12
=R704,16
Mathematical Literacy Future Managers 15

16. 1. No amount is mentioned for water, why not?
Water is paid on a separate bill
3. Electricity is also not listed. Why not?
Electricity is prepaid
6. On what date did the council take their actual
reading? What was their estimated amount?
Sewerage was read on 16/05/07. The
estimated consumption was 2.824kl
Mathematical Literacy Future Managers 16

17. 1. Why was the previous month’s total account
the same as the current month’s account?
The fees are calculated on an annual basis,
and divided by 12 to give a monthly figure
5. How many litres is the basic charge and what
was council’s estimate of usage?
Basic charge = R33,00
Estimation of usage = 2,824kl
Mathematical Literacy Future Managers 17

18. 1. 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?
Water usage = Sewerage usage ÷ 15 x 100
=2,824kl ÷ 15 x 100
5. =18.827kl Mokoena pay his account on time,
Did Benni
or did he fall behind on his council payments
as well?
He paid his account on time
Mathematical Literacy Future Managers 18

19. Activity 11
Mathematical Literacy Future Managers 19

20. a. What does “closing balance” mean?
It means the balance at the end of the month
d. What does “90 days +” mean?
It is the amount of credit that is older than
90 days
g. What is the total amount that Mrs Mokoena
will have to pay to settle the account?
Balance = R1859,00
Mathematical Literacy Future Managers 20

21. a. The “instalment due” is the sum of two
amounts. Give these two amounts as well as
the total instalment on this account
Instalment due = R55 + R105 = R160
c. 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.
Possibly since she already paid R30 of the
installment
Mathematical Literacy Future Managers 21

22. a. What is the maximum prescribed interest rate
by the NCA and what rate is Foschini
promising it customers?
Maximum prescribed rate = 22.5% + 8.4% =
30.9%
Foschini rate = 22.5%
e. How much interest is she paying in July? Give
the amount.
Interest in July = R18,47 +14,34 = R32,81
Mathematical Literacy Future Managers 22

23. 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
Mathematical Literacy Future Managers 23

24. Activity 12
1. 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
Mathematical Literacy Future Managers 24

25. 1. 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
Mathematical Literacy Future Managers 25

26. Question 3
Means of Taxi Bus
transport
Leg 1
R7,33
Leg 2
R7,33

27. Activity 14
1. What is the difference between a debit amount and a
credit amount?
4. AC

28. 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

29. Activity 15
1. Who is the beneficiary of this salary slip?
Willie Syothula
3. How much UIF will he pay in a year is his
income is a fixed amount?
Annual UIF = Monthly UIF x 12
=R92.75 x 12
=R1 113.00
Mathematical Literacy Future Managers 29

30. Activity 15
1. What percentage of his salary does he
contribute to the UIF?
% contribution = UIF ÷ Total Salary x 100
=R92.75 ÷ R9275.00 x 100
= 1%
5. How much will his gross salary be if he gets a
6.5% increase?
New salary = Old salary + Old salary x 6.5 ÷ 100
= R9275 + R9275 x 6.5 ÷ 100
=R9877.88
Mathematical Literacy Future Managers 30

31. Activity 16
1. 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 cheapest
Mathematical Literacy Future Managers 31

32. Activity 16
1. 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
Mathematical Literacy Future Managers 32

33. Activity 16
1. 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 Taxi from airport = 45 min
Check in at airport 1h15 Total time = 5 hr 15
Flight time 2hr
Luggage collection 30min
Arrange transport 15min
Mathematical Literacy Future Managers 33