Question: 5 . 1 . Examine the information provided below and answer the following questions. INFORMATION Royal Bank ( RB ) employs three loan officers, each

5.1. Examine the information provided below and answer the following questions. INFORMATION Royal Bank (RB) employs three loan officers, each working eight hours per day and processing an average of seven loans per day. The banks daily payroll cost for all the officers is R2400, and the daily overhead expense is R1000. The bank has recently acquired new advanced computer software, which is expected to increase each officer's loan processing capacity to twelve loans per day. However, the overhead expense will rise to R1200, and there will be an additional software license cost of R20 per officer per day.
REQUIRED: 5.1.1. Calculate the labour productivity per labour-hour before and after implementation of the new computer software. Show all calculations and round off answers to three decimal places.

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