Foundation June 2024 Paper 3 Q26
26 House prices on a street increase by 5.1% each year.
Show that after 14 years the house prices on the street will be at least double. [2 marks]
| Answer | Mark | Comments |
|---|---|---|
| \(1 + \dfrac{5.1}{100}\) or 1.051 or 105.1% | M1 | oe eg \(\dfrac{100 + 5.1}{100}\) may be implied by a correct value after one year of their chosen house value |
| \(1.051^{14}\) and [2, 2.01] | A1 | may be implied by a correct value after 14 years of their chosen house value |
Additional guidance
| (house value =) 100 000 and (value after 1 year =) 105 100 | M1 |
| (house value =) 100 000 and (value after 14 years =) [200 600, 200 650] | M1A1 |
| \(\left(1 + \dfrac{5.1}{100}\right)^{14} = 2.006\) | M1A1 |
| Do not allow a misread of 5.1% eg1 1.05 eg2 1.052 | M0 M0 |