For Achieved, there must be evidence of at least 3 of; Using Percentage discounts Finding the Percentage of a number Increasing or Decreasing a number by a fraction Finding the fraction of a number Increasing or Decreasing by a decimal

For Merit, there must be evidence of at least 2 of; Removing GST Converting from NZ$ to overseas currency and vice- versa Ratios For Excellence, there must be evidence of; Valid recommendation with justification Outline of any assumptions made 1 minor error allowed in calculations

Simon’s Bike Purchases Overall Aim of Assessment Simon has been presented with 4 different options of purchasing his bike and accessories. Simon must work out the price for each option, and then choose an option and provide logical reasons for doing so.

Simon’s Bike Purchases Option 1 Simon has 4 items to purchase, and been provided 5 different discounts. Strategy: To find the maximum discount possible in order to find the lowest price for the 4 items. To do this match the largest discount with the largest priced item.

Simon’s Bike Purchases Option 1 Step 2: Match largest discounts with largest prices of items Road Bike of $899with discount of 22.2% GPS Tracker of $349with discount of 20% Bike Shoes of $225with discount of 16% Helmet of $79with discount of 13%

Price left after discount off

Simon’s Bike Purchases Option 1 Step 4: Add up the final costs of the items, and get a final cost price. Road Bike$ GPS Tracker$ Bike Shoes$ Helmet$ TOTAL PRICE$

Simon’s Bike Purchases Option 1 Step 5: Summarise; The price of the 4 items would be $ This is the lowest price that can be obtained as I have maximized the discount matching the largest price items with the largest discount on offer. Simon would get these items when he purchased them, and have them available for use immediately.

Simon’s Bike Purchases Option 2 Simon can purchase the 4 items from an online store in Australia. There is exchange rate calculations, and Duty to consider. Strategy: Calculate the total cost of the goods in $AUS (including shipping costs) and convert to $NZ. Then allow for the Duty Fee (if necessary) to find our total price.

Simon’s Bike Purchases Option 2 Step 1: Add the 4 items together with the shipping cost. Road Bike$489 GPS Tracker$205 Bike Shoes$125 Helmet$ 39 Shipping$ 79 TOTAL PRICE AUS $937

Simon’s Bike Purchases Option 2 Step 4: Total Cost for this option = $ $85.86 = $

Simon’s Bike Purchases Option 2 Step 5: Summarise; The price of the 4 items imported from Australia would cost $ , and duty fees need to be added of $ Therefore the total cost would be $ Simon would have to wait for these items to be shipped (and hopefully correct and undamaged). Shipping time can vary from days to weeks.

Simon’s Bike Purchases Option 3 Simon can wait 2 weeks, and purchase on a GST free day. Strategy: Calculate the total cost of the goods and then remove the GST amount.

Simon’s Bike Purchases Option 3 Step 1: Add the 4 items together (from the initial information) Road Bike$899 GPS Tracker$349 Bike Shoes$225 Helmet$ 79 TOTAL PRICE $1552

Same as dividing by 1.15

Simon’s Bike Purchases Option 3 Step 3: Summarise; The price of the 4 items with GST removed is $ Simon would have to wait for two weeks for this sale, therefore wouldn’t have the items until then.

Simon’s Bike Purchases Option 4 Simon can wait 4 weeks, and combine finances with his parents towards the purchases. He also gets to purchase a bike rack as well. Strategy: Calculate the total cost of the goods including the bike rack, then split the amount according to the ratio.

Simon’s Bike Purchases Option 4 Step 1: Add the 5 items together (from the initial information) Road Bike$899 GPS Tracker$349 Bike Shoes$225 Helmet$ 79 Bike Rack$349 TOTAL PRICE $1901

Simon’s Bike Purchases Option 4 Step 3: Summarise; The amount that Simon spends is $ Simon would have to wait 4 weeks until he could purchase these items.

Simon’s Bike Purchases OVERALL Option 1Simons cost is $ Option 2Simons cost is $ Option 3Simons cost is $ Option 4Simons cost is $

Simon’s Bike Purchases RECOMMENDATION You need to consider things like: Price Time that Simon gets his bikes and gear Time of the upcoming bike race Overseas purchases – accuracy of order, warranties Does exchange rate vary from decision to buy to purchase time Could Simon of purchased bike rack and used last discount option in Option 1