Finance

Income, spending and till slips

Read a till slip. Find VAT, change, and whether a budget balances.

CAPS

Grade 10 · Mathematical Literacy · Finance

Mathematical Literacy uses a context, not a bare sum.

  • Two papers

    Paper 1 uses familiar contexts: pay slips, till slips, maps you have seen, and data in a table. Paper 2 uses less familiar contexts and expects you to decide which method fits. Both papers are 150 marks.

  • What to show

    Write the value with its unit or its rand sign. Say whether you multiply or divide, and round only at the end, in the way the question asked (nearest rand, one decimal place, a whole number of tiles).

  • The relation

    VAT = 15100 × price excluding VAT. South African VAT at 15%

  • How a marker reads it

    CAPS uses 15% VAT. Do not use 14%. Say whether the given price already includes VAT.

A correct number with the wrong unit, or a VAT amount treated as the full price, loses the mark the context was testing.

Diagram

Income, spending and till slips

Worked example

A loaf is R20 excluding VAT. VAT is 15%. What is the till total?

Before any working — hunt first

Given

Numbers and units already in the sentence: R20 excluding · 15%. Copy each one into a column. A name without a number is not given.

Missing

After you copy the given, the letter that still has no number is missing. The paper is pointing at: What is the till total. Circle that word — that is the missing variable.

Find

We are required to find: What is the till total. Write that as a symbol on the left, with a question mark, before you touch a formula.

Calculate

Write VAT = 15100 × price excluding VAT with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives What is the till total.

Simplified approach

VAT = 15% of 20. Add it to 20.

Culture note

Every Shoprite and spaza till in the country adds 15% VAT unless the item is zero-rated.

Formulas

VAT=15100×price excluding VAT

South African VAT at 15%

Exam tricks you must know

These are the moves markers look for — not shortcuts that skip the method, but the habits that earn the method mark.

  • If the price already includes VAT, divide by 1.15 — do not subtract 15%

    How:Total = price × 1.15 when VAT is still to be added. When the till already shows VAT, price excluding = total1.15. Subtracting 15% of the total is a different number and loses the mark.

    When to use it:Till slips, VAT, and SARS-style tax questions.

  • Fencing is perimeter. Grass, paint and tiles are area. Tanks are volume.

    How:Underline the object: wire, border, fence → add the sides. Floor, wall, field, paint → multiply length by width, then divide by coverage and round tins up. Water in a tank → m³ then × 1 000 for litres.

    When to use it:Measurement papers: school fields, paint, Jojo tanks.

Step 1 / 5

Find VAT

0.15×20=R3.00.

VAT=0.15×20=3

Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.

4. Step-by-step working

  1. 01

    Find VAT

    0.15×20=R3.00.

    VAT=0.15×20=3
  2. 02

    Add to the price

    20 + 3 = R23.00 on the slip.

More worked examples

Board walkthroughs on this topic. Open one, copy the working, then try the next.

Example 1 / 20

A till slip shows bread at R28 and milk at R58. Both prices exclude VAT. VAT is 15%. Calculate the VAT and the amount due.

4. Step-by-step working

  1. 01

    Add

    28 + 58. 20 + 50 = 70, and 8 + 8 = 16, so 70 + 16 = R86.

    28+58=86
  2. 02

    Multiply

    10% of 86 is 8.60. 5% is half of that, 4.30.

    0.10×86=8.60
  3. 03

    Add

    VAT=8.60+4.30=R12.90.

    8.60+4.30=12.90
  4. 04

    Add

    Amount due=86.00+12.90=R98.90.

    86.00+12.90=98.90

How we got there

Read this like a teacher at the board. We go slowly, name every number, and say why we take each step.

Explain in another language · 11

1. What is the question asking?

Read the question twice. Circle the unknown. Underline every number and unit. The paper is asking: A till slip shows bread at R28 and milk at R58. Both prices exclude VAT. VAT is 15%. Calculate the VAT and the amount due.

Before any working — hunt first

Given

Numbers and units already in the sentence: R28 and · R58 · 15%. Copy each one into a column. A name without a number is not given.

Missing

After you copy the given, the letter that still has no number is missing. The paper is pointing at: the VAT and the amount due. Circle that word — that is the missing variable.

Find

We are required to find: the VAT and the amount due. Write that as a symbol on the left, with a question mark, before you touch a formula.

Calculate

Write 28 + 58 = 86 with empty letters. Cross out every letter that already has a number. Calculate the letter that is still standing — that gives the VAT and the amount due.

In other words — as if you have never seen this before

If you have never seen this before: Add the exclusive prices first. VAT is 15% of that subtotal. The amount due is subtotal plus VAT. Do not take 15% of each price and then add 15% again. We will name a method in words, write the formula with no numbers, then substitute one line at a time.

2. What do we already know?

R28 and R58, VAT exclusive. Rate 15%.

3. Which method — and why this one?

Add the exclusive prices first. VAT is 15% of that subtotal. The amount due is subtotal plus VAT. Do not take 15% of each price and then add 15% again.

4. Step-by-step working

  1. 01 / 07

    Add

    28 + 58. 20 + 50 = 70, and 8 + 8 = 16, so 70 + 16 = R86.

    28+58=86

    Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.

  2. 02 / 07

    Multiply

    10% of 86 is 8.60. 5% is half of that, 4.30.

    0.10×86=8.60

    Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.

  3. 03 / 07

    Add

    VAT=8.60+4.30=R12.90.

    8.60+4.30=12.90

    Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.

  4. 04 / 07

    Add

    Amount due=86.00+12.90=R98.90.

    86.00+12.90=98.90

    Why this step: We only do one job per line so a marker can follow the marks — and so you can find a slip without starting over.

  5. 05 / 07

    Step G — Sense-check the size

    Ask: is this the kind of number a Grade 10–12 paper would want? A speed of 3 000 ms for a learner walking, or a probability bigger than 1, means a unit or algebra slip. Estimate first: round the numbers and do the sum in your head.

    Why this step: Markers write ‘unrealistic’ in the margin when the method is right but the size is wild. A 10-second head check often finds a missing 10² or a unit that never changed.

  6. 06 / 07

    Step F — Box the answer with its unit

    VAT R12.90. Amount due R98.90.

    Why this step: A number without a unit is half a mark on a Physics paper, and a marker can miss a Maths answer that is buried in working.

  7. 07 / 07

    Step H — What the marker is looking for

    On an NSC memo you usually earn: (1) a method mark for naming the right formula or idea in words, (2) an accuracy mark for substituting the given numbers with units, (3) an accuracy mark for the boxed answer with its unit. Write those three lines even if you are unsure of the arithmetic — blank pages score zero.

    Why this step: First-timers chase the final number and leave the method blank. The memo still pays out for the idea and the substitution even when the last line is wrong.

5. The answer

VAT R12.90. Amount due R98.90.

Copy onto your answer sheet — in this order

Formula: 28+58=86

Answer: VAT R12.90. Amount due R98.90.

6. Check it like a marker

R86 is the price before VAT. Subtracting 15% would be the wrong direction, because these prices do not include VAT yet.

7. A trap first-timers fall into

First-timers often grab the first formula they remember, mix units (cm with m, minutes with seconds), or drop a minus sign. Write the formula in words first: “this equals that, because…”

Ntsako · fx-991ZA PLUS. Tap to calculate.