Academic Excel is a training center offering short courses to students. It also operates

its own canteen, which is normally open $25$ days a month from $9$ am to $7pm.$ The

center has a total of $500$ students, but normally only half of this student population

buys their meals from the canteen. Senior students represent $50\%$ of the student

population while juniors and lowers account for $30\%$ and $20\%$ respectively. On

average, the students buy $2$ similar meals per day from the canteen, namely one meal in

the morning and another in the afternoon.

Students can be classified in three categories, namely Senior, Junior and Lower. The

pricing structure differs according to the student category. Normally, Senior students

pay the full price for a meal, Junior students pay $75\%$ of the price and Lowers pay only

$25\%.$ The center normally aims at achieving a profit margin of $20\%$ on sales takings.

The following information is available for a month:

The canteen employs only one chef, two assistants to the chef and three part time

waiters. Heat and light costs an average of Rs$50$ per hour during the morning from $9$

am to $1pm$ and $$60$ for the rest of the day.

Required:

$($a$)$ Find the price per meal $($to the nearest Rs$)$ to be charged to senior students,

junior students and Lowers.

$[15$ marks$]$

$($b$)$ If the government decides to subsidize the canteen facility of the center by

granting a monthly subsidy of Rs $150,000,$ find the new price per meal to be

charged to the three categories of students.

$[3$ marks$]$

$($c$)$ Explain the importance of having non$-$financial performance indicators in

addition to financial ones and state four possible non$-$financial performance

indicators that can be used by a canteen operator.

$[7$ marks$]$