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### Mathematical Literacy Grade 11
#### Mopani East District
#### Assignment 2 (Task 5)
#### August 2024

### QUESTION 1

#### 1.1 Ms. Mokhethi has a Savings Banking account at ABC bank. Below is an extract from one of her statements as well as an extract of the fee brochure for this type of account. All amounts shown in the statement are in rands.

Table 1: Ms. Mokhethi's bank statement

\begin{tabular}{|l|l|c|c|c|}
\hline Date & Description & Debit & Credit & Balance \\
\hline [tex]$01 / 12$[/tex] & Opening balance & & & 15339,14 \\
\hline [tex]$02 / 12$[/tex] & Cash withdrawal at ABC ATM & 700.00 & & 14639,14 \\
\hline [tex]$02 / 12$[/tex] & Cash withdrawal fee & A & & 14633,89 \\
\hline [tex]$09 / 12$[/tex] & POS cash withdrawal at P\&P & 521,89 & & 14112,00 \\
\hline [tex]$09 / 12$[/tex] & POS cash withdrawal & 400,00 & & 13712,00 \\
\hline [tex]$09 / 12$[/tex] & \begin{tabular}{l} POS purchase and withdrawal \\ fee \end{tabular} & 4,30 & & 13707,70 \\
\hline [tex]$17 / 12$[/tex] & Cash deposit at branch counter & & 600,00 & 14307,70 \\
\hline [tex]$17 / 12$[/tex] & Cash deposit fee & 19,70 & & [tex]$B$[/tex] \\
\hline
\end{tabular}

Table 2: ABC banking fee brochure

\begin{tabular}{|l|l|}
\hline Transaction & Fee description \\
\hline & Deposits \\
\hline Cash deposit: Branch counter & R8,00 + R1,95 per R100 \\
\hline Cash deposit: ABC ATM & R4,00 + R1,80 per R100 \\
\hline & Withdrawals \\
\hline Cash withdrawal: Branch counter & R50,00 + R1,90 per R100 \\
\hline Cash withdrawal: ABC ATM & R5,25 per withdrawal \\
\hline Cash withdrawal: Point of sale (POS) & R2,15 per transaction \\
\hline & \\
\hline
\end{tabular}

Use the tables above to answer the questions that follow.

1.1.1 Write down the month in which the bank statement was issued.

1.1.2 Explain the term "debit" in the context of the bank statement.

1.1.3 Determine:
- (a) A, the withdrawal fee on [tex]$02 / 12$[/tex].
- (b) B, the balance on [tex]$17 / 12$[/tex].

1.1.4 Show how the deposit fee of R19,70 on [tex]$17 / 12$[/tex] was calculated.

1.1.5 Calculate the total amount withdrawn from this account as shown in the extract of the bank statement above.

Sagot :

GinnyAnsweridn
### Detailed Solutions:

#### 1.1.1 Write down the month on which the bank statement was issued.

The bank statement includes transactions recorded from the 1st of December to the 17th of December. Therefore, the month on which the bank statement was issued is December.

#### 1.1.2 Explain the term debit in the context of the bank statement.

In the context of a bank statement, the term debit refers to the amount of money that has been taken out or withdrawn from the account. This could be due to various transactions such as cash withdrawals, fees, or purchases.

#### 1.1.3 Determine:

(a) A, the withdrawal fee on 02/12.

According to the ABC banking fee brochure, the fee for a cash withdrawal at an ABC ATM is R5.25 per withdrawal. Thus, A, the withdrawal fee on 02/12, is R5.25.

(b) B, the balance on 17/12.

To determine the balance on 17/12 after deducting the deposit fee, we start with the balance before deducting the fee:

- Balance before fee on 17/12: R14307.70
- Deposit fee on 17/12: R19.70

Subtract the fee from the balance:
[tex]\[ B = 14307.70 - 19.70 = 14288.00 \][/tex]

Therefore, B, the balance on 17/12, is R14288.00.

#### 1.1.4 Show how the deposit fee of R19,70 on 17/12 was calculated.

According to the ABC banking fee brochure for branch counter deposits, the fee is structured as follows:

- Base fee: R8.00
- Variable fee: R1.95 per R100 deposited

Given the deposit amount on 17/12 was R600.00, we can calculate the deposit fee as follows:

First, calculate the variable fee:
[tex]\[ \text{Variable fee} = (600 / 100) \times 1.95 = 6 \times 1.95 = 11.70 \][/tex]

Next, add the base fee:
[tex]\[ \text{Total deposit fee} = 8.00 + 11.70 = 19.70 \][/tex]

Hence, the calculated deposit fee matches the given value of R19.70.

#### 1.1.5 Calculate the total amount withdrawn from this account shown in the extract of the bank statement above.

From the bank statement, the amounts withdrawn are as follows:

- 02/12: R700.00 (Cash withdrawal at ABC ATM)
- 09/12: R521.89 (POS cash withdrawal at P&P)
- 09/12: R400.00 (POS cash withdrawal)

Sum these amounts to get the total withdrawn:
[tex]\[ \text{Total withdrawn} = 700.00 + 521.89 + 400.00 = 1621.89 \][/tex]

Therefore, the total amount withdrawn from the account as shown in the extract of the bank statement is R1621.89.
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