Numeracy Higher June 2025 Unit 1 Q2
2. In this question, you will be assessed on the quality of your organisation, communication and accuracy in writing.
Nadya borrowed £500 from a loan company.
The loan company told her that she would pay more than 100% interest.
Nadya paid off the loan and interest completely by paying back £55 each month for 2 years.
What percentage interest did Nadya actually pay?
You must show all your working. [4 + 2 OCW]
| Scheme | Marks | Comments |
|---|---|---|
| (Repayment) 55 × 24 | M1 | Must be as a complete unspoilt method |
| (£) 1320 | A1 | |
| (% Interest) \(\dfrac{1320 - 500}{500}\) (×100) or \(\dfrac{820}{500}\) (×100) or \(\dfrac{1320}{500}\) (×100) – 1(×100) | M1 | FT ‘their repayment’ provided from a calculation including 55 × 24 Award M1 for complete method to show what percentage 820 is of 500 |
| 164 (%) | A1 | Mark final answer On FT ‘their %’ > 100, allow rounded or truncated so that it is accurate to a whole number If final M0A0, award SC1 for a final percentage of 264(%) from \(\frac{1320}{500}\) × 100, or equivalent from 100 × ‘their repayment’ ÷ 500 with required accuracy |
| Organisation and communication | OC1 | For OC1, candidates will be expected to: • present their response in a structured way • explain to the reader what they are doing at each step of their response • lay out their explanations and working in a way that is clear and logical • write a conclusion that draws together their results and explains what their answer means |
| Writing | W1 | For W1, candidates will be expected to: • show all their working • make few, if any, errors in spelling, punctuation and grammar • use correct mathematical form in their working • use appropriate terminology, units, etc. |