QUESTION 1

Mrs. Gold is the Gr.12 Consumer Studies teacher at Parkside High School. She bought
supplies for a Gr.12 practical lesson for her Gr.12 learners. The till slip is shown below:
BEN’S SUPERMARKET
15 South Street
Durban
Tel No: 031 328 3215
VAT reg No: *****1245

LAST DAY FOR FULL REFUND IS 12/12/2023 EXCEPT SALE

ITEMS
# Cabbage R16,29

Lux Fresh Soap R18,99

Sliced cooked Ham 250g R69,99

# Red Salad Onions 50g R16,49

# Rosa Tomatoes 400g R14,99

# Sweetcorn 135g R24,99

# 1ℓ Full Cream Milk R16,99

Value Condensed Milk @ R32,95

Less promotion R1,00 R287,55
White Sugar 2,5kg @ R69,99
Less promotion R2,00 R67,99
# Carrots 1kg R9,69

TOTAL (Including VAT) R543,96

TOTAL (Excluding VAT) A

TOTAL (VAT) R57,98

TOTAL DUE (Rounded off) B

AMOUNT TENDERED C

CHANGE D

# Non-VAT items
12/10/2023 @ 12:45 Itumeleng
Use the till slip to answer the questions that follow.
1.1 Name the non-vegetable item that is exempted from VAT. (2)
1ℓ Full Cream Milk ✔✔ ✓✓A
1.2 Determine the number of tins of condensed milk that was (2)
purchased.
287,55 ÷ (32,95 – 1,00) ✓ ÷ 31,95
✓answer
= 287,55 ÷ 31,95 ✔ (9)

=9✔
1.3 Calculate the price per kilogram of sweet corn. (3)
𝑃𝑟𝑖𝑐𝑒 𝑝𝑒𝑟 𝑘𝑔 24,99 ✓ ÷ 135
= 135𝑔 (1kg = 1000g)
1000𝑔 ✓ x1000
Price per kg = 24,99 x 1000✔ ÷ 135✔ ✓answer
(9)
= R185,11✔
1.4 Calculate the missing value A. (2)
✓adding
A = 16,29 + 16,49 + 14,99 + 24,99 + 16,99 + 9,69✔ ✓answer

= R99,44✔ AO

1.5 Parkside Supermarket rounded off the total amount due, to the
relevant context.
1.5.1 Calculate the missing value B. (2)
B = R543,90✔✔ ✓✓A

accept B = R543,95 ✔✔
(It must be rounded down, because it is against the law to ask
customers to pay more than indicated, thus the shop needs to
give 6c discount because we only have 10c coins in circulation)
1.5.2 Mrs. Gold paid for the items with two R200 notes and two
R100 notes. Determine the missing values C and D. (3)
✓R600
C = 2x200 + 2x100 = R600✔ ✓Method
(subtract)
D = 600 –543,90 ✔ = R56,10✔ ( do need two decimal values) CA from
1.5.1
D = R600 - R543,95✔ = RR56,05 ✔ ✓answer

1.6 Ben buys tomatoes from his supplier at a cost of R12,00 per bag.
He then sells them at R14,99 per bag.
1.6.1 Calculate his profit on tomato sales if he sells one dozen (3)
bags of tomatoes.
✓profit
Profit on 1 bag = 14,99 – 12,00 = R2,99✔
(R2,99)
Profit on 1 dozen bags = 2,99 x 12✔ = R35,88✔ ✓method
(x12)
Or ✓ answer
Dozen bags = R14,99 x 12 = R179,88
 = R12,00 x 12 ✓= R144
Profit = R179,88 – 144,00✓ = R35,88✓
1.6.2 Determine the percentage mark-up, rounded to the (3)
nearest whole percentage, that Ben uses to determine
the selling price of tomatoes. You may use the following
formula:
𝑠𝑒𝑙𝑙𝑖𝑛𝑔 𝑝𝑟𝑖𝑐𝑒−𝑐𝑜𝑠𝑡 𝑝𝑟𝑖𝑐𝑒
% 𝑚𝑎𝑟𝑘𝑢𝑝 = × 100
𝑐𝑜𝑠𝑡 𝑝𝑟𝑖𝑐𝑒

% 𝑚𝑎𝑟𝑘𝑢𝑝 =
14,99−12,00
✔ × 100 ✓sub
12,00 Formula
= 24,916✔ … ≈ 25%✔ ✓answer
✓rounding
Total: [20]
QUESTION 2
Mrs. Gold is 45 years old, and she earns a basic monthly salary of R22 137,56 and an
annual bonus equal to her basic monthly salary. Her gross annual taxable income is
made up of her basic monthly salary and annual bonus.
She contributes 7,5% of her basic monthly salary towards a pension fund, but no pension
contribution is deducted from her annual bonus.
Use the tax tables below to answer the questions that follow:

2.1 Calculate Mrs. Gold’s gross annual taxable income. (4)

✓method
Annual gross salary = 22 137,56 x 12 = R265 650,72✔ (x12)

Annual pension = 265 650,72 x 7,5% = R19 923,80✔ ✓method

(subtract
pension)
Annual taxable income = 265 650,72 + 22 137,56 – 19 923,80✔
✓method
= R267 864,48✔ (add bonus)

Or ✓ answer
100−7,5
Monthly = R22 137,56 x = R20 477,243✓
100
= R20 477,243 x 12 = 245 726,916 ✓
= R245 726,916 + R22 137,56 ✓
=R267 864,48✓
2.2 Use the annual tax table above to calculate her annual tax payable
for the year ending 28 February 2023. (5)
✓ RT (26%)
Annual tax = 40 680 + 26%✔(267 864,48✔ – 226 000) CA from
2.1
= 40 680 + 26%(41 864,48)
= 40 680 + 10 884,7648 ✓sub form.

= R51 564,76✔ ✓answer

Rebate = 17 235 ✓method
(subtract
Medical Aid Credit = NA rebates

Annual tax payable = 51 564,76 – 17 235✔ ✓answer

= R34 329,76✔
2.3 Hence, calculate Mrs. Gold’s net monthly salary if only income tax and
pension deductions are considered. (3)
Monthly tax payable = 34 329,76 ÷ 12 = R2860,81 ✓convert
to
Monthly pension = 19 923,80 ÷ 12 = R1 660,32✔
monthly
Net Monthly salary = 22 137,56 – 2860,81 – 1660,32✔ expenses
(/12)
= R17 616,43 ✔ ✓method
(subtract)
✓Answer
2.4 Referring to the last bracket in the annual tax table, show how the
value of 614 192 was calculated. (5)
✓method
1 731 600 – 817 601✔ (difference
of bracket)
= R914 000✔ ✓answer

41% x 914 000✔ ✓method

( x41%)
= R374 740✔ ✓answer
✓method
374 740 + 239 452✔ = R614 192 (add fixed
amount)

Total: [17]

QUESTION 3
Mrs. Gold is also a representative of the financial committee of Parkside High School
and she wants to compare the amount budgeted for Consumer Studies in relation to
the total budget of the school.
The table below compares the amount budgeted for the 2022/23 to 2024/25 financial
years for Consumer Studies with the total budget of the school for the same years.
Financial Year Amount budgeted for Total school budget in
Consumer Studies in million rand
thousand rand
2022/23 32,5 2,03
2023/24 34,7 2,18
2024/25 37,2 2,24

3.1 Explain the difference between a budget and an income-and-

expenditure statement. (4)
✓✓
A budget is a document where all planned income and expenses are (budget

recorded. It is done prior to a given financial period.✔✔ – planned,

before)

✓✓
(record, actual
values, after. )
 An income-and-expenditure statement is a document which records
all actual income and expenses. It is done after a given financial
period.✔✔
3.2 Write down the total budget of the school for the 2023/24 financial
year as a number in full. (2)
2 180 000✔✔ ✓✓A
3.3 Write down the amount budgeted for consumer studies for the
2022/23 financial year in words. (2)
Thirty-two thousand, five hundred.✔✔ ✓✓A
3.4 The annual inflation rate for 2023 was 5,77%. Mrs. Gold claimed that
her subject’s percentage budget increase for the 2024/25 financial
year exceeded the annual inflation rate for 2023. Show by calculation
whether her claim is valid. (5)
37 200 – 34 700✔ ✓ Method
% 𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒 = × 100✔ (difference)
34 700✔
= 7,2%✔
✓ 34,7 as
Her statement is valid✔, the budget increase is higher than the denominator

inflation rate of 5,77%. ✓( x100)

Or
✓answer
37,2 – 34, 7✔
% 𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒 = × 100✔
34, 7✔
✓Conclusion
= 7,2%✔ CA from
answer
Her statement is valid✔, the budget increase is higher than the
inflation rate of 5,77%.

Total: [13]

TOTAL : 50
 Level 1 Level 2 Level 3 Level 4
1.1 2
1.2 2
1.3 3
1.4 2
1.5.1 2
1.5.2 3
1.6.1 3
1.6.2 3
2.1 4
2.2 5
2.3 3
2.4 5
3.1 4
3.2 2
3.3 2
3.4 5

Total: 14 17 11 8 50
28% 34% 22% 16% 100%