FUNDAMENTALS OF BUSINESS MATHEMATICS – NQF LEVEL 4
PRACTICE ASSIGNMENT
Dear Student,
Your studies are important to us at Fernwood Business College (FBC) and to assist you, we include an
assignment for each subject of the IBS Professional Qualification: Management and Administration.
Many of the questions in each assignment appeared in previous examination papers and were
sourced from the official ICSA website. After completing the various assignments, you should be
quite familiar with the nature, level and format of the examination question papers. NOTE: The
assignment is to be used as an examination preparation tool and does not guarantee your success
in the formal examination. DO NOT SPOT!
Though not a formal requirement, you may complete each assignment and return it to the Academic
Support Team at FBC for review and comment. After reviewing the marked assignments, we will
return your script, together with a possible solution. Note: you will not receive a formal mark for
your assignment but an Academic Consultant will comment where appropriate. Once you have
received your reviewed scripts back from FBC, refer to the identified problem areas and comments.
Alternatively, you are can visit the ICSA website (www.icsa.co.za) to access past exam papers.
Before sending us your assignment, you must complete the Assignment Cover Page (at the back of
this assignment) and attach it to the front of each submitted assignment. Assignments must be
posted to: Academic Support, Fernwood Business College, Private Bag X6, Tecoma, 5214 or e-mailed
to ibssupport@fbc.edu.za.
Academic Support is also available Monday to Thursday from 8:00am to 5:00pm and on Fridays from
8:00 to 4:00pm. You may phone us on 0861887771 and/or e-mail us with your academic questions
on ibssupport@fbc.edu.za
All the best for your studies.
Academic Support Team
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
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Institute of Business Studies (IBS) examination instructions:
Below are standard instructions that appear on all the Institute’s examination papers. We suggest
that you refer to them when completing the assignment.
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When receiving your examination paper, make sure it is for the correct subject.
Only BLACK BALL-POINT INK must be used to write the examination.
Do not use your own name or that of your company in any of your answers.
Start each answer on a fresh page, clearly numbering it at the top.
Check that all answers are correctly numbered.
The examination will be closed-book. Students are not allowed to consult any notes.
Answer all questions.
SPECIFIC OUTCOME 1
TOPIC 1
USE KNOWLEDGE OF NUMBERS AND THEIR RELATIONSHIP TO INVESTIGATE A RANGE OF
DIFFERENT CONTEXTS WHICH INCLUDE FINANCIAL ASPECTS OF PERSONAL, BUSINESS AND
NATIONAL ISSUES.
QUESTION 1
In the current year the number of lions in a certain area of the KNP has decreased by 20% and the
number of impala has increased by 30%.
Last year there were 20 lions and 1 700 impala as well as 25 wild-dogs.
1.1
How many lions are in this area of the KNP this year?
(3)
1.2
How many more impala are in this area this year?
(2)
1.3
How many more impala are in the area this year?
(1)
1.4
In the current year the number of wild-dogs has increased to 32. What percentage increase
is this in comparison to the previous year?
(4)
QUESTION 2
2.1
Express 0.37 as a percentage
2.2
What percentage has a student scored if he were awarded 54 marks out of a total of 120?
(2)
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
(1)
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2.3
Convert the following improper fractions into mixed numbers (do not give decimal
fractions).
2.3.1
(1)
2.3.2
(1)
SPECIFIC OUTCOME 2
TOPIC 2
RECOGNISE, INTERPRET, DESCRIBE AND REPRESENT VARIOUS FUNCTIONAL
RELATIONSHIPS TO SOLVE PROBLEMS IN REAL AND SIMULATED CONTEXTS.
QUESTION 3
3.1
A company wants to invest R100 000. The bank offers simple interest at 14.5% if the
investment is over 4 years. The bank offers 12% compound interest (compounded annually)
if the investment is over 3 years. You are the financial advisor of that company. Which offer
would you advise the company to take? Explain your answer.
(8)
3.2
Mrs. Mohlala deposits R5000 into a savings account for her children’s future education. The
bank initially offers her 12% interest compounded annually for three years. However the
interest drops to 9.5% in the last year of the investment
(8)
QUESTION 4
You are hoping to buy a new computer in three years’ time. The computer currently costs R7 050
and the price is expected to increase by a compounded rate of 5% a year.
You can afford to save R2 000 at the beginning of each of the three years, starting today, until you
buy the computer. Your investment will attract interest on a compound basis of 10% each year.
4.1
What will the price of the computer be in three years when you wish to buy it?
(5)
4.2
What will the value of your savings be in three years when you wish to buy the computer?
(12)
4.3
How much more will you need in three years in order to buy the computer?
(3)
(Hint: treat each annual saving as a separate calculation)
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
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SPECIFIC OUTCOME 3
TOPIC 3
USE KNOWLEDGE OF NUMBERS AND THEIR RELATIONSHIP TO INVESTIGATE A RANGE OF
DIFFERENT CONTEXTS WHICH INCLUDE PERSONAL FINANCIAL ASPECTS.
QUESTION 5
At Ace Carpenters the hourly rate for workers is R60. Workers are paid R90 per hour for overtime
and R120 per hour for working on a public holiday.
During April Zani worked 180 normal hours, and 12 hours overtime and 8 hours on a public holiday.
Michael worked 160 normal hours, 10 hours over time and 2 hours on the public holiday and Bobby
worked 5 hours on the public holiday, the same normal hours as Zani and 50% more hours than Zani
in overtime.
5.1
Name
Complete the table for the workers of Ace Carpenters.
Normal
Hours
Rate
Total
Overtime
Hours
Rate
Total
(3)
Public Holidays
Hours
Rate
Total
Grand
Total
5.2
How much did each of the employees earn during April?
(3)
5.3
What is the total wage bill for the month of April?
(2)
5.4
What is the average wage earned during April?
(2)
QUESTION 6
The IR Smart Company sells a certain kind of cell phone cover at R9 each. It sells n cell phone covers
per year.
6.1
If I is the annual income for the company, write an equation for the annual income.
(2)
6.2
What will the company’s income be if no covers are sold?
(1)
6.3
What will the company’s income be if it sells 2 000 covers?
(1)
6.4
What will the company’s income be if it sells 5 000 covers?
(1)
6.5
Using the information obtained in question 6.2 to 6.4 draw up a table of values, showing the
amount of income received for the sale of cell phone covers
(2)
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
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SPECIFIC OUTCOME 4
TOPIC 4
MEASURE USING APPROPRIATE INSTRUMENTS, TO ESTIMATE AND CALCULATE PHYSICAL
QUANTITIES, AND TO INTERPRET PROPERTIES OF AND RELATIONSHIPS BETWEEN 2DIMENSIONAL SHAPES AND 3- DIMENSIONAL OBJECTS IN A VARIETY OF ORIENTATIONS
AND POSITIONS.
QUESTION 7
It was decided to identify all 2010 FIFA World Cup participants by giving them a multi-colour ribbon.
In response to queries the following emerged:
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Europe would require 1 500 000 cm of ribbon.
England would require 10 000 feet of ribbon.
America would require 7 500 yards of ribbon.
The rest of the world would require 5 000 metres of ribbon.
How many Km of ribbon is needed, in total, if you also require an excess of 5% above the anticipated
requirements?
Note to convert:
Feet to metres multiply by 0.3048
Yards to metres multiply by 0.9144
(10)
QUESTION 8
A cylindrical can is made out of sheet metal and is designed to contain 500 ml of cold drink. The
diameter of the can is 8 cm.
h cm
8 cm
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
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8.1
If the height of the can is h cm, find h.
(4)
8.2
Find the area of each of the top and bottom of the cylinder.
(3)
8.3
What is the area of sheet metal required to make the top and bottom of the can?
(1)
8.4
Find the area of sheet metal required to make the wall of the can?
(5)
8.5
What is the total area of sheet metal required to make the can?
(3)
SPECIFIC OUTCOME 5
TOPIC 5
COLLECT, SUMMARISE, DISPLAY AND ANALYSE DATA AND APPLY KNOWLEDGE OF
STATISTICS AND PROBABILITY TO COMMUNICATE, JUSTIFY, PREDICT AND CRITICALLY
INTERROGATE FINDINGS AND DRAW CONCLUSIONS.
QUESTION 9
Bongwe has been measuring the weights of pockets of cement that he has bought from the local
hardware store. He recorded the following for eight pockets of cement that he bought.
Pockets
Mass Kg
1
50.00
2
51.10
3
49.90
4
49.95
5
51.05
6
51.20
7
50.00
8
51.60
9.1
Describe what is meant by a measure of central tendency.
(2)
9.2
Identify one measure of central tendency and calculate its value for the eight pockets of
cement.
(4)
9.3
Describe what is meant by dispersion of data
9.4
Identify one measure of dispersion and calculate its value for the eight pockets of cement
(2)
(2)
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
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QUESTION 10
The women in the table are all friends and they wrote down how many children each had:
Name
Thato
Brenda
Phumelela
Thuli
Wendy
Ayanda
Phodiso
Matshidiso
Thando
Number
Children
0
3
0
1
2
2
3
0
4
of
10.1
Calculate the mean number of children. Show all workings.
(3)
10.2
State the modal number of children
(1)
The sane nine women also measured their heights and tabulated the results:
Name
Thato
Brenda
Phumelela
Thuli
Wendy
Ayanda
Phodiso
Matshidiso
Thando
Height in m
1.56
1.62
1.71
1.58
1.67
1.66
1.60
1.59
1.61
10.3
Determine the median height. Show all workings
10.4
The standard deviation has been calculated for the heights of the women and found to be
0.0484. What can you conclude from this value?
(2)
10.5
Calculate the range of heights. What can you conclude from this value?
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
(2)
(3)
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ASSIGNMENT COVER PAGE
SUBJECT NAME
STUDENT INFORMATION:
FIRST NAME
SURNAME
STUDENT NUMBER
CELL PHONE NUMBER
E-MAIL ADDRESS
POSTAL ADDRESS:
HOUSE NUMBER AND
STREET NAME
SUBURB
CITY/TOWN
POSTAL CODE
ACADEMIC CONSULTANT’S COMMENTS:
FERNWOOD BUSINESS COLLEGE – FUNDAMENTALS OF BUSINESS MATHEMATICS
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