Answer :
Sure, let's tackle each part of the question in a detailed, step-by-step manner:
### Part 10.4.1: Calculate the VAT-inclusive price of an item priced at 100 currency units post-March 2018.
Given:
- VAT-exclusive price = 100 currency units
- VAT rate post-March 2018 = 15%
We'll calculate the VAT-inclusive price using the formula:
[tex]\[ \text{VAT-inclusive price} = \text{VAT-exclusive price} \times (1 + \text{VAT rate}) \][/tex]
Substituting the given values:
[tex]\[ \text{VAT-inclusive price} = 100 \times 1.15 = 115 \text{ currency units} \][/tex]
### Part 10.4.2: Raeesa says that she pays VAT per annum charged on the loan.
To understand Raeesa's statement, we need to address the concept of VAT on a loan. Typically, loans themselves are not subject to VAT but the services related to providing the loan may incur VAT charges. This part of the question seems to mix VAT and annual loan interest, which are generally separate concepts.
### Part 10.4.3: Calculate the interest why Raeesa had to take a loan.
Without specific details on the principal amount, interest rate, or duration, we can’t calculate exact interest. Loosely, the interest [tex]\( I \)[/tex] is calculated using the formula:
[tex]\[ I = P \times r \times t \][/tex]
Where:
- [tex]\( P \)[/tex] is the principal amount
- [tex]\( r \)[/tex] is the annual interest rate
- [tex]\( t \)[/tex] is the time in years
Given more specific details, this could be calculated accurately, but currently, there is insufficient data.
### Part 10.4.4: Give a possible reason why Raeesa had to take a loan.
Possible reasons why Raeesa may have had to take a loan include:
- She needed to make a significant purchase, such as buying a car or a house.
- She faced unexpected expenses, such as medical bills or home repairs.
- She required funds for educational purposes or to start a business.
- She wanted to consolidate higher-interest debts into a single, lower-interest loan.
### VAT Calculation Recap
From the VAT section, we learned essential information about the introduction of a new VAT rate in March 2018:
- Prior to March 2018, the VAT rate was 14%.
- From 1 March 2018, the VAT rate increased to 15%.
Using this information, we calculated the VAT-inclusive price of an item priced at 100 currency units post-March 2018 to be 115 currency units. This calculation helps us understand how the change in VAT rate affects consumer prices.
### Summary
To summarize, while parts 10.4.2 and 10.4.3 require additional details for precise calculation, we successfully calculated the VAT-inclusive price post-March 2018 and provided a reasonable answer about Raeesa's need for a loan. It's essential to have all pertinent details for accurate financial calculations.
### Part 10.4.1: Calculate the VAT-inclusive price of an item priced at 100 currency units post-March 2018.
Given:
- VAT-exclusive price = 100 currency units
- VAT rate post-March 2018 = 15%
We'll calculate the VAT-inclusive price using the formula:
[tex]\[ \text{VAT-inclusive price} = \text{VAT-exclusive price} \times (1 + \text{VAT rate}) \][/tex]
Substituting the given values:
[tex]\[ \text{VAT-inclusive price} = 100 \times 1.15 = 115 \text{ currency units} \][/tex]
### Part 10.4.2: Raeesa says that she pays VAT per annum charged on the loan.
To understand Raeesa's statement, we need to address the concept of VAT on a loan. Typically, loans themselves are not subject to VAT but the services related to providing the loan may incur VAT charges. This part of the question seems to mix VAT and annual loan interest, which are generally separate concepts.
### Part 10.4.3: Calculate the interest why Raeesa had to take a loan.
Without specific details on the principal amount, interest rate, or duration, we can’t calculate exact interest. Loosely, the interest [tex]\( I \)[/tex] is calculated using the formula:
[tex]\[ I = P \times r \times t \][/tex]
Where:
- [tex]\( P \)[/tex] is the principal amount
- [tex]\( r \)[/tex] is the annual interest rate
- [tex]\( t \)[/tex] is the time in years
Given more specific details, this could be calculated accurately, but currently, there is insufficient data.
### Part 10.4.4: Give a possible reason why Raeesa had to take a loan.
Possible reasons why Raeesa may have had to take a loan include:
- She needed to make a significant purchase, such as buying a car or a house.
- She faced unexpected expenses, such as medical bills or home repairs.
- She required funds for educational purposes or to start a business.
- She wanted to consolidate higher-interest debts into a single, lower-interest loan.
### VAT Calculation Recap
From the VAT section, we learned essential information about the introduction of a new VAT rate in March 2018:
- Prior to March 2018, the VAT rate was 14%.
- From 1 March 2018, the VAT rate increased to 15%.
Using this information, we calculated the VAT-inclusive price of an item priced at 100 currency units post-March 2018 to be 115 currency units. This calculation helps us understand how the change in VAT rate affects consumer prices.
### Summary
To summarize, while parts 10.4.2 and 10.4.3 require additional details for precise calculation, we successfully calculated the VAT-inclusive price post-March 2018 and provided a reasonable answer about Raeesa's need for a loan. It's essential to have all pertinent details for accurate financial calculations.
