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Bongiwe received her levy statement of account from Rango Property Specialist for her rented unit - NSC Mathematical Literacy - Question 2 - 2022 - Paper 1

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Bongiwe received her levy statement of account from Rango Property Specialist for her rented unit. ANNEXURE A shows her adapted statement of account. Use ANNEXURE ... show full transcript

Worked Solution & Example Answer:Bongiwe received her levy statement of account from Rango Property Specialist for her rented unit - NSC Mathematical Literacy - Question 2 - 2022 - Paper 1

Step 1

2.1.1 Write down the reference number that Bongiwe must use when she pays her account.

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Answer

The reference number that Bongiwe must use is BGD 016.

Step 2

2.1.2 Give ONE reason why reference numbers are used when making payments.

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Answer

Reference numbers are used to easily track transactions and ensure payments are accurately assigned to the correct accounts.

Step 3

2.1.3 Calculate the missing value A, which has been omitted from the statement.

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Answer

To find the missing value A, we subtract the total amount due from other entries in the statement. If A can be represented as R = R2 340,73 - R206,00 - R205,11, then A = R2 340,73 - R411,11 = R1 929,62.

Step 4

2.1.4 The total amount due for this invoice is R2 340,73, including 15% VAT.

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Answer

To calculate the amount excluding VAT, let the amount excluding VAT be x. Thus, we have: x+0.15x=R2340,73x + 0.15x = R2 340,73.

This simplifies to: 1.15x=R2340,731.15x = R2 340,73

Therefore: x=R2340,731.15=R2035,42x = \frac{R2 340,73}{1.15} = R2 035,42.

Hence, the total amount due excluding VAT is R2 035,42.

Step 5

2.1.5 Calculate the total amount due, excluding VAT.

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Answer

The total amount due, excluding VAT, is R2 035,42 as calculated above.

Step 6

2.1.6 Calculate (rounded to TWO decimal places) the standard levy for June 2021 as a percentage of the amount due on the statement.

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Answer

To find the standard levy percentage, we calculate:

Percentage=(R1498,14R2340,73)×100%=64,02%\text{Percentage} = \left( \frac{R1 498,14}{R2 340,73} \right) \times 100\% = 64,02\%.

Thus, the standard levy for June 2021 as a percentage of the amount due is approximately 64,02%.

Step 7

2.1.7 Calculate the total amount collected by the body corporate if all 49 units paid their levy CSOS on 1 July 2021.

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Answer

The total amount collected by the body corporate is given by multiplying the standard levy by the total number of units:

Total=49×R30,90=R1514,10.\text{Total} = 49 \times R30,90 = R1 514,10.

Step 8

2.1.8 Calculate the new standard levy after the increase.

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Answer

To find the new standard levy after the increase, we calculate:

New Standard Levy=R1498,63+(R1498,63×0.0645)=R1498,63+R96,66=R1595,29.\text{New Standard Levy} = R1 498,63 + (R1 498,63 \times 0.0645) = R1 498,63 + R96,66 = R1 595,29.

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