This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Step 1: Determine the fee for a R1 000 withdrawal from a Denbank ATM (Question 1.1). The fee structure for a Denbank ATM is R3.50 plus R1.10 per R100 or part thereof. Withdrawal amount: R1 000 Number of R100 blocks: R1000R100 = 10 Fee = Base fee + (Number of R100 blocks × Fee per R100 block) Fee = R3.50 + (10 × R1.10) = R3.50 + R11.00 = R14.50 The fee charged is R14.50. Step 2: Determine the fee for a R250 withdrawal from another bank's ATM (Question 1.2). The fee structure for another bank's ATM is R5.50 plus R1.10 per R100 or part thereof. Withdrawal amount: R250 Number of R100 blocks (or part thereof): R250R100 = 2.5 = 3 Fee = Base fee + (Number of R100 blocks × Fee per R100 block) Fee = R5.50 + (3 × R1.10) = R5.50 + R3.30 = R8.80 The fee charged is R8.80. Step 3: Determine the fee for a R250 withdrawal at the teller at a branch (Question 1.3). The fee structure for "Over the counter" (teller at a branch) is R23.00 plus R1.10 per R100 or part thereof. Withdrawal amount: R250 Number of R100 blocks (or part thereof): R250R100 = 2.5 = 3 Fee = Base fee + (Number of R100 blocks × Fee per R100 block) Fee = R23.00 + (3 × R1.10) = R23.00 + R3.30 = R26.30 The fee charged is R26.30. Step 4: Calculate the percentage of the R250 withdrawal in question 1.3 that is charged in fees (Question 1.4). Withdrawal amount: R250 Fee charged (from Step 3): R26.30 Percentage = FeeWithdrawal amount × 100\% Percentage = R26.30R250.00 × 100\% = 0.1052 × 100\% = 10.52\% The percentage charged in fees is 10.52\%. Step 5: Determine the fee for a R600 withdrawal from a Denbank ATM (Question 1.5). The fee structure for a Denbank ATM is R3.50 plus R1.10 per R100 or part thereof. Withdrawal amount: R600 Number of R100 blocks: R600R100 = 6 Fee = Base fee + (Number of R100 blocks × Fee per R100 block) Fee = R3.50 + (6 × R1.10) = R3.50 + R6.60 = R10.10 The fee charged is R10.10. Step 6: Compare costs for a R250 withdrawal (Question 1.6). We need to compare three options for withdrawing R250: At the bank (Over the counter): From Step 3, the fee is R26.30. From Denbank ATM: Withdrawal amount: R250 Number of R100 blocks (or part thereof): R250R100 = 3 Fee = R3.50 + (3 × R1.10) = R3.50 + R3.30 = R6.80 From a tillpoint with a purchase: The fee is R5.50 per transaction, regardless of the amount withdrawn. Fee = R5.50 Comparing the fees: At the bank: R26.30 Denbank ATM: R6.80 Tillpoint with a purchase: R5.50 The lowest fee is R5.50. It would be more cost-effective to withdraw R250 from a tillpoint with a purchase. That's 2 down. 3 left today — send the next one.