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Explain the term deposit according to given context. Determine Mrs. Pillay's salary that was deposited into her bank account. The deposit fee for this type of account; R5+1,20% of the value deposited. Write down the minimum bank charges for the salary deposited.

Mathematics

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1.1.1
A deposit, in this context, refers to money being added to Mrs. Pillay's bank account. Specifically, it is her salary being credited to her account, increasing her balance.

1.1.2

  1. Identify the initial and final account balances.

    Initial balance =−R900= -\text{R}900
    Final balance =R8 200= \text{R}8\ 200

  2. Calculate the salary deposited by finding the difference between the final and initial balances.

    Salary deposited=Final balance−Initial balance\text{Salary deposited} = \text{Final balance} - \text{Initial balance} Salary deposited=R8 200−(−R900)\text{Salary deposited} = \text{R}8\ 200 - (-\text{R}900) Salary deposited=R8 200+R900\text{Salary deposited} = \text{R}8\ 200 + \text{R}900 Salary deposited=R9 100\text{Salary deposited} = \text{R}9\ 100

    Mrs. Pillay's salary deposited was R9 100\boxed{\text{R}9\ 100}.

    1.1.3

  3. Identify the deposit fee structure and the value deposited.

    Deposit fee =R5+1,20% of the value deposited= \text{R}5 + 1,20\% \text{ of the value deposited}
    Value deposited =R9 100= \text{R}9\ 100 (from 1.1.2)

  4. Calculate the percentage portion of the fee.

    1,20% of R9 100=1,20100×R9 1001,20\% \text{ of R}9\ 100 = \frac{1,20}{100} \times \text{R}9\ 100 =0,012×R9 100= 0,012 \times \text{R}9\ 100 =R109,20= \text{R}109,20
  5. Calculate the total bank charges.

    Total bank charges=R5+R109,20\text{Total bank charges} = \text{R}5 + \text{R}109,20 Total bank charges=R114,20\text{Total bank charges} = \text{R}114,20

    The minimum bank charges for the salary deposited are R114,20\boxed{\text{R}114,20}.

    1.2.1
    Mapule's fixed expenses are costs that generally remain constant each month.

    • Rent: R300,00
    • Cellphone contract: R120,00 Her fixed expenses are Rent and Cellphone contract.

    1.2.2

  6. Calculate her weekly income for 4 weeks.

    Weekly income=R250,00 per week\text{Weekly income} = \text{R}250,00 \text{ per week} Income from weekly earnings=R250,00×4 weeks\text{Income from weekly earnings} = \text{R}250,00 \times 4 \text{ weeks} =R1 000,00= \text{R}1\ 000,00
  7. Add her monthly tips to the weekly earnings.

    Tips for one month=R600,00\text{Tips for one month} = \text{R}600,00 Total income=Income from weekly earnings+Tips\text{Total income} = \text{Income from weekly earnings} + \text{Tips} Total income=R1 000,00+R600,00\text{Total income} = \text{R}1\ 000,00 + \text{R}600,00 Total income=R1 600,00\text{Total income} = \text{R}1\ 600,00

    Her total income for the month in February is R1 600,00\boxed{\text{R}1\ 600,00}.

    1.2.3

  8. List all her expenditures for the month.

    • Transport: R150,00
    • Groceries: R500,00
    • Rent: R300,00
    • Cellphone contract: R120,00
  9. Sum all the expenditures to find the total expenses.

    Total expenses=R150,00+R500,00+R300,00+R120,00\text{Total expenses} = \text{R}150,00 + \text{R}500,00 + \text{R}300,00 + \text{R}120,00 Total expenses=R1 070,00\text{Total expenses} = \text{R}1\ 070,00

    Her total expenses for this month are R1 070,00\boxed{\text{R}1\ 070,00}.

    1.2.4

  10. Use the total expenses and total income calculated previously.

    Total expenses =R1 070,00= \text{R}1\ 070,00 (from 1.2.3)
    Total income =R1 600,00= \text{R}1\ 600,00 (from 1.2.2)

  11. Calculate the percentage of total expenses to total income.

    Percentage=Total expensesTotal income×100%\text{Percentage} = \frac{\text{Total expenses}}{\text{Total income}} \times 100\% Percentage=R1 070,00R1 600,00×100%\text{Percentage} = \frac{\text{R}1\ 070,00}{\text{R}1\ 600,00} \times 100\% Percentage=0,66875×100%\text{Percentage} = 0,66875 \times 100\% Percentage=66,875%\text{Percentage} = 66,875\%
  12. Round the answer to the nearest percentage.

    Percentage≈67%\text{Percentage} \approx 67\%

    The total expenses as a percentage of the total income is 67%\boxed{67\%}.

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