Use the information above to answer the questions that follow.
1.1.1 Calculate (rounded off to ONE decimal place) the percentage discount given on the bakkie’s selling price, excluding VAT. (3)
1.1.2 Show how the amount of RI 66 561,76 was calculated. (3)
1.1.3 Give ONE reason why customers would prefer to install the accessories
(extras), as shown in the quotation. (2)
1.1.4 Mapotjo has an investment of RI,25 million. The money was invested as follows:
- Twenty-seven (27) months investment period
- 6% interest per annum, compounded annually
Show whether the interest earned on this investment is sufficient to cover the total purchase price of RI 89 880,41. (9)
1.1.5 VAT in South Africa increased to 15% with effect from 1 April 2018.
The following shows how the dealer calculated the new increased VAT incorrectly:
Identify the mistake the dealer has made in calculating the new selling price. Hence, calculate the new selling price, including 15% VAT (excluding accessories and other charges). (4)
Use the information above and ANNEXURE A to answer the questions that follow.
1.2.1 The cargo bin does not have a flat surface area and therefore the surface area must be increased by 2% to accommodate the uneven surface area.
a) Calculate how many litres of rubberising paint Mapotjo needs to purchase in order to rubberise the cargo bin of her bakkie.
You may use the formula:
Surface area of an open box
= Width x length + 2(length x height + width x height) (8)
b) Calculate the cost of applying TWO coats of rubberising paint
(excluding labour) if a 5 t tin costs R549, including VAT. (3)
1.2.2 Explain the significance of applying rubberising paint to the cargo bin of a bakkie. (2)
1.3 It takes 20 minutes to apply a layer of rubberising paint. There is a 4-hour waiting period before the second coat of rubberising paint can be applied. In addition, a further drying time of 2 hours is required after the second coat has been applied.
Determine, with calculations, at what time the bakkie would be ready if the workshop started rubberising the cargo bin at 08:15. (4)