Foundation November 2024 Paper 1 Q21
21 At the start of 2020, the value of a particular caravan was £25 000.
The value of the caravan then decreased by 12% each year.
Calculate the total loss in value of the caravan at the end of 3 years. [4]
| Answer | Marks | Part marks and guidance | |
|---|---|---|---|
| 7963.2[0] | 4 | B3 for 17036.8[0] or 3000, 2640 and 2323.2[0] or M2 for \(25\,000 \times 0.88^3\) or \(25000 \times 0.12\) and their \(22000 \times 0.12\) and their \(19360 \times 0.12\) or M1 for \(1 - 0.12\) implied by 0.88 or \(25000 \times 0.12\) and their \(22000 \times 0.12\) may be implied 3000 and 2640 or by 22000 and 19360 | |