∑ DANEMATHICS
FREE CAPS MATHS RESOURCES
Grade 10 · Financial Maths
Hire Purchase, Exchange Rates & Population Growth (Grade 10)
MEMORANDUM
Name:
Class:
Date:
Mark
/ 16
Answer all questions. Show all your working — marks are awarded for method as well as the final answer. Teacher copy: accept any correct equivalent method.
- 1A fridge costs R12 000. A 10% deposit is paid. Calculate the deposit and the balance owing.(2)Deposit = R1 200; balance = R10 800✓✓ (2)
- 2The R10 800 balance is repaid over 3 years at 15% p.a. simple interest. Calculate the interest.(2)10 800 × 0,15 × 3 = R4 860✓✓ (2)
- 3Calculate the monthly instalment for that hire-purchase agreement.(2)15 66036 = R435,00✓✓ (2)
- 4How much more than the cash price does the buyer pay in total?(2)R1 200 + R15 660 = R16 860, which is R4 860 more✓✓ (2)
- 5A camera costs $240. The rate is R18,50 to the dollar. Calculate the cost in rand.(2)240 × 18,50 = R4 440✓✓ (2)
- 6A tourist changes R9 250 into dollars at R18,50 to the dollar. How many dollars does she receive?(2)9 25018,50 = $500✓✓ (2)
- 7A town of 1 200 000 grows at 1,8% p.a. Estimate the population after 5 years.(2)1 200 000(1,018)⁵ ≈ 1 311 959✓✓ (2)
- 8Explain the effect on the petrol price when the rand weakens against the dollar.(2)Oil is bought in dollars, so a weaker rand means more rand are needed per dollar and the petrol price rises.✓✓ (2)
TOTAL: 16 marks