Higher November 2022 Paper 2 Q14
14 Fred bought an apartment for £137 500
He made 8% profit when he sold the apartment.
He used all of this profit to pay 40% of the deposit on a house.
The deposit was one sixth of the price of the house.
Work out the price of the house. [4 marks]
| Answer | Mark | Comments |
|---|---|---|
| \(137\,500 \times 0.08\) or 11 000 | M1 | oe eg \(137\,500 \times 1.08 - 137\,500\) |
| their \(11\,000 \div 0.4\) or 27 500 | M1dep | oe may be seen in stages eg \(11\,000 \div 40 = 275\) and \(275 \times 100\) |
| their \(27\,500 \times 6\) | M1dep | oe eg \(137\,500 + 27\,500\) |
| 165 000 | A1 | SC2 2 227 500 |
Additional guidance
Up to M1 may be awarded for correct work with no answer, or incorrect answer, even if this is seen amongst multiple attempts
SC2 is from starting with \(137\,500 \times 1.08\)