, the sixth withdrawal
+ =
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11.4 Value Added Tax

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12.1 Introduction and key concepts

The TownBank current account charges plus per or part thereof for a cash withdrawal from a TownBank ATM. The first five withdrawals in a month are free. Determine the bank charges for a withdrawal of:
, the sixth withdrawal
+ =
, the fourth withdrawal
Free
, the tenth withdrawal
+ =
, the seventh withdrawal
+ =
The Success Current Account charges plus per full , to a maximum charge of for debit card purchases. Determine the charges for a purchase of:
+ =
+ =
+ = . This exceeds the maximum charge or , so the bank charge will be .
You are given the following information about bank charges for a TownBank current account.
Withdrawals
Over the counter: plus per or part thereof
TownBank ATM: plus per or part thereof
Another bank's ATM: plus plus per or part thereof
Tillpoint  cash only:
Tillpoint  cash with purchase:
Calculate the fee charged for a withdrawal from a TownBank ATM.
+ =
Calculate the fee charged for a withdrawal from another bank's ATM.
+ + =
Calculate the fee charged for a withdrawal from the teller at a branch.
+ =
What percentage of the withdrawal in question (c) is charged in fees?
=%
Would it be cheaper to withdraw at the bank, from a TownBank ATM or from a till point with a purchase?
At the bank: + = . At a TownBank ATM: + = . At a tillpoint with a purchase: . So it will be cheapest to draw at a tillpoint, with a purchase.
Study the graph and answer the questions that follow:
Complete the table below: (Fill in all the missing spaces)
Amount invested (in Rands) 







Interest Earned (in Rands) 





Interest/Amount (Interest Rate) 
Amount invested in Rands 







Interest Earned in Rands 







Interest/Amount (Interest Rate) 
% 
% 
% 
% 
% 
% 
% 
What kind of proportionality exists between the amount invested and the interest earned?
Direct proportionality.
You decide to invest . Calculate the amount of interest you can expect to earn.
Interest rate is fixed at %. % of = of interest earned.
Complete the table below by calculating the missing amounts.
Amount (R) 




VAT (R) 




Total (R) 




Amount (R) 







VAT (R) 







Total (R) 







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11.4 Value Added Tax

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12.1 Introduction and key concepts
