1MA0 Higher November 2014 Paper 1 Q11
11 Ria is going to buy a caravan.
The total cost of the caravan is £7000 plus VAT at 20%.
Ria pays a deposit of £3000
She pays the rest of the total cost in 6 equal monthly payments.
Work out the amount of each monthly payment. (4)
| Answer | Mark | Notes |
|---|---|---|
| 900 | 4 | M1 for \(0.2 \times 7000\) (=1400) or \(1.2 \times 7000\) (=8400) oe M1 for \(7000 + \text{``}1400\text{''} - 3000\) (=5400) oe M1 for \(\text{``}5400\text{''} \div 6\) A1 cao |