Question 2

2.1

Use the information above to answer the questions that follow.

2.1.1 It was stated that the mean monthly income per millionaire
R161 000.

Verify, with calculations, whether this statement is CORRECT. (5)

2.1.2 Calculate the number of millionaires in South Africa in the previous

year (2016). (3)

Use the information above and ANNEXURE C to answer the questions that follow.

2.2.1 Calculate John’s total medical scheme tax rebate for the year. (3)

2.2.2 Hence, calculate the amount of income tax he had to pay for the

2018/2019 tax year. (8)

Use the information above to answer the questions that follow.

2.3.1 Calculate, in rand, Megan’s annual gross salary using the following

exchange rates:

2.3.2 John stated that Megan’s total annual deductions (excluding tax) are more

than 52% of her annual gross salary.

Verify, showing ALL calculations, whether this statement is valid. (4)

Use the information in ANNEXURE D to answer the questions that follow.

2.4.1 Name the country that has the biggest range between 2019 and the past

top marginal tax rates. (2)

2.4.2 Determine, to THREE decimal places, the probability of randomly

selecting one of the G20 countries where the latest tax rates changed from

the previous tax rate. (3)

2.4.3 Use the 2019 top marginal tax rate and answer the following questions:

(a) Determine quartile 2 (2)

(b) The interquartile range is given as 12.

Verify, showing ALL calculations, whether the given interquartile

range is CORRECT. (4)

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