Foundation November 2017 Paper 3 Q14
14 £1700 is invested for 3 years at 4% per year simple interest.
Work out the total interest. [3 marks]
| Answer | Mark | Comments |
|---|---|---|
| \(1700 \times 0.04\) or 68 or \(1700 \times 1.04\) or 1768 or 4(%) \(\times\) 3 or 12(%) | M1 | oe |
| \(1700 \times 0.04 \times 3\) or their \(68 \times 3\) or (their 1768 – 1700) \(\times\) 3 or 1700 \(\times\) (their 12 \(\div\) 100) or 1700 \(\times\) (1 + their 12 \(\div\) 100) (– 1700) or 1904 (– 1700) | M1dep | oe |
| 204 | A1 |
Additional guidance
| Answer of 1904 with or without 204 seen in working | M1M1A0 |
| \(1700 \times 3 = 5100\) and their \(5100 \times 0.04\) | M1M1 |
| Condone \(1700 \times 1.04^3\) or an answer of 212.26(…) or 212.27 or 1912.26(…) or 1912.27 for the first method mark | M1M0A0 |
| 680 = 4% and \(680 \times 3\) implies 4(%) \(\times\) 3 for the first M1 mark only 680 is not their 68 for the second method mark |