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.
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Here are the solutions to the questions: Question 4: Step 1: Identify the relevant stamp duty bracket for a purchase price of K300 000. The purchase price of K300 000 falls into the bracket "K251 000 to K500 000". Step 2: Apply the stamp duty formula for this bracket. The formula is K2 500 + K3.50 per K100 for the amount over K250 000. Amount over K250 000 = K300 000 - K250 000 = K50 000. Stamp duty on the excess amount = K50 000K100 × K3.50 = 500 × K3.50 = K1750. Step 3: Calculate the total stamp duty. Total stamp duty = K2 500 (base amount) + K1750 (excess amount) = K4250. The stamp duty payable is K4250. K4250 Question 5: Step 1: Identify the relevant stamp duty bracket for a purchase price of K510 000. The purchase price of K510 000 falls into the bracket "Over K500 000". Step 2: Apply the stamp duty formula for this bracket. The formula is K11 250 + K3.75 per K100 for the amount over K500 000. Amount over K500 000 = K510 000 - K500 000 = K10 000. Stamp duty on the excess amount = K10 000K100 × K3.75 = 100 × K3.75 = K375. Step 3: Calculate the total stamp duty. Total stamp duty = K11 250 (base amount) + K375 (excess amount) = K11 625. The stamp duty payable is K11 625. K11 625 Question 6: Step 1: Calculate the stamp duty on the purchase price. Purchase price = K240 000. This falls into the "Up to K250 000" bracket. Stamp duty on purchase = K240 000K100 × K1.00 = 2400 × K1.00 = K2400. Step 2: Calculate the stamp duty on the loan amount. Loan amount = K195 000. Assuming the same stamp duty rates apply to the loan, this falls into the "Up to K250 000" bracket. Stamp duty on loan = K195 000K100 × K1.00 = 1950 × K1.00 = K1950. Step 3: Sum all the fees and charges. Bank fees = K600 (application) + K200 (valuation) + K300 (settlement) = K1100. Solicitor fee = K650. Total cost = Bank fees + Solicitor fee + Stamp duty on purchase + Stamp duty on loan. Total cost = K1100 + K650 + K2400 + K1950 = K6100. Ritchie's total cost on fees and charges is K6100. K6100 That's 2 down. 3 left today — send the next one.