A property worth 500,000 appreciates by 12% in the first year and depreciates by 8% in the second year. What is the value at the end of the two years? In a law firm of 60 staff, 35% are qualified lawyers , 25% are paralegals and the rest are administrative staff . How many administrative staff are there? A client pays a 30% deposit on a legal fee of 18,000 . If he later pays half of the outstanding balance,how much does he still owe. A limitation period of 6 years begins on 14th march, 2018, on what date does it expire and how many complete calendar years remain as of 1 January 2023. A court sits 5 days a week for 8 cases per day . At this rate how many weeks will it take to clear a backlog of 480 cases?

Law

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Answers

2 parts
a

March 14, 2024\text{March 14, 2024}

b

1 complete calendar year\text{1 complete calendar year}

12 weeks\text{12 weeks}

Step-by-step solution

2 steps

Here are the solutions to your questions:

  1. Property value calculation

    Step 1: Calculate the value after the first year's appreciation.
    The property appreciates by 12%12\%.

    Value after 1 year=500,000×(1+0.12)\text{Value after 1 year} = 500,000 \times (1 + 0.12) Value after 1 year=500,000×1.12\text{Value after 1 year} = 500,000 \times 1.12 Value after 1 year=560,000\text{Value after 1 year} = 560,000

    Step 2: Calculate the value after the second year's depreciation.
    The property depreciates by 8%8\% from the value at the end of the first year.

    Value after 2 years=560,000×(1−0.08)\text{Value after 2 years} = 560,000 \times (1 - 0.08) Value after 2 years=560,000×0.92\text{Value after 2 years} = 560,000 \times 0.92 Value after 2 years=515,200\text{Value after 2 years} = 515,200

    The value at the end of the two years is 515,200\boxed{\text{515,200}}.

  2. Administrative staff count

    Step 1: Calculate the total percentage of qualified lawyers and paralegals.

    Percentage of lawyers and paralegals=35%+25%=60%\text{Percentage of lawyers and paralegals} = 35\% + 25\% = 60\%

    Step 2: Calculate the percentage of administrative staff.

    Percentage of administrative staff=100%−60%=40%\text{Percentage of administrative staff} = 100\% - 60\% = 40\%

    Step 3: Calculate the number of administrative staff.

    Number of administrative staff=40% of 60\text{Number of administrative staff} = 40\% \text{ of } 60 Number of administrative staff=0.40×60\text{Number of administrative staff} = 0.40 \times 60 Number of administrative staff=24\text{Number of administrative staff} = 24

    There are 24 administrative staff\boxed{\text{24 administrative staff}}.

  3. Outstanding legal fee

    Step 1: Calculate the deposit amount.
    The legal fee is 18,000, and the deposit is 30%30\%.

    Deposit=0.30×18,000\text{Deposit} = 0.30 \times 18,000 Deposit=5,400\text{Deposit} = 5,400

    Step 2: Calculate the outstanding balance after the deposit.

    Outstanding balance=18,000−5,400\text{Outstanding balance} = 18,000 - 5,400 Outstanding balance=12,600\text{Outstanding balance} = 12,600

    Step 3: Calculate the amount paid later.
    The client pays half of the outstanding balance.

    Amount paid later=12×12,600\text{Amount paid later} = \frac{1}{2} \times 12,600 Amount paid later=6,300\text{Amount paid later} = 6,300

    Step 4: Calculate the remaining amount owed.

    Amount still owed=12,600−6,300\text{Amount still owed} = 12,600 - 6,300 Amount still owed=6,300\text{Amount still owed} = 6,300

    The client still owes 6,300\boxed{\text{6,300}}.

  4. Limitation period

Part a

On what date does it expire?

The limitation period begins on March 14, 2018, and lasts for 6 years.  
Adding 6 years to March 14, 2018, gives March 14, 2024.

The limitation period expires on $\boxed{\text{March 14, 2024}}$.

Part b

1 complete calendar year\text{1 complete calendar year}

How many complete calendar years remain as of 1 January 2023?

The expiry date is March 14, 2024.  
As of January 1, 2023, the year 2023 is a full calendar year that remains before the expiry. The year 2024 is not a complete calendar year as the period expires in March.

There is $\boxed{\text{1 complete calendar year}}$.

5. Court backlog clearance

  1. Calculate the number of cases cleared per week.

    The court sits 5 days a week and clears 8 cases per day.
    $$
    \text{Cases per week} = 5 \text{ days/week} \times 8 \text{ cases/day}
    $$
    $$
    \text{Cases per week} = 40 \text{ cases/week}
    $$
    
  2. Calculate the number of weeks to clear the backlog.

    The backlog is 480 cases.
    $$
    \text{Weeks to clear backlog} = \frac{\text{Total backlog}}{\text{Cases per week}}
    $$
    $$
    \text{Weeks to clear backlog} = \frac{480}{40}
    $$
    $$
    \text{Weeks to clear backlog} = 12
    $$
    
    It will take $\boxed{\text{12 weeks}}$.
    
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