Tutorial 1 Solutions

Section 1 of Exercises: Question 1: (a) The amounts do not add up to R120m. R12.7 million is missing this must be the figure for the Northern Cape which is missing from the list. (b) 120 (19 + 14.9 + 13.7 + 11.9 + 8.3 + 7 + 7.8 + 7.3 + 17.4) (c) (i) 120 000 000 (ii) 8 300 000 8 (d) (i) 1.2 10 (ii) 1.74 107 (e) (ii) and (iii) are correct (f) (iii) is most accurate

(a) Section 2 of Exercises: (b) Question 2: (c) 1.3 106; 1.84 1010 (c) (b)

R1.84 1010 R14 154 per house 1.3 106 houses

5 106 people 5 3.85 people/house (or just calculate since both are in millions) 6 1.3 1.3 10 houses

1.3 10 6 houses (d) 185 700 houses/year 7 years

Question 3: (a) 4.8 billion = 4.8 109; 3.2 million = 3.2 106 (b)
R 4.8 10 6 3.2 10 6 children R1500 per child

Section 1 of Exercises: Question 4 a, b: (a) R4 667.70 ; R1 896,61 ; R1 366,77 (b) R56 012,40 ; R68 277,96 ; R82 006,20 There is no right answer here. Obviously paying off over 12 months leads to a smaller overall total repayment (i.e. less interest) but the monthly repayment amount is large. An individuals needs and situation must be taken into account when deciding on a payment plan. Section 2 of Exercises: Question 5: