Foundation June 2025 Paper 1 Q22
22 £8000 is invested at a rate of \(r\)% per year simple interest.
After 7 years the value of the investment is £10 352.
Find the value of \(r\). [4]
| Answer | Marks | Part marks and guidance | |
|---|---|---|---|
| 4.2 | 4 | B3 for 0.042 OR M2 for \(\dfrac{10352 - 8000}{7}\) maybe implied by 336 oe or \(\dfrac{10352 - 8000}{7000}\) maybe implied by 0.336 oe or \(\dfrac{10352 - 8000}{8000}\) maybe implied by 0.294 or 29.4 or \(\dfrac{8000 \times r \times 7}{100} = 10352 - 8000\) or better OR M1 for \(10352 - 8000\) maybe implied by 2352 or \(\dfrac{10352}{8000}\) maybe implied by 1.294 or 129.4 or \(\dfrac{8000 \times r \times 7}{100}\) AND M1 for their \(336 \div 8000\) or their \(0.336 \div 8\) or \(0.294 \div 7\) or \(29.4 \div 7\) or \(\dfrac{2352}{560}\) | Condone % sign for 4 marks or B3 |