Numeracy Foundation June 2023 Unit 2 Q3
3. In 2019, Jeff’s salary was £27 000.
The following amounts were taken from his salary.
| Income Tax and National Insurance £5105 | Student Loan repayment 4% of his salary | Pension Scheme contribution \(\dfrac{\mathbf{1}}{\mathbf{20}}\) of his salary |
Complete the table below.
You must show all your working. [5]
| Income Tax and National Insurance | £ 5105 |
| Student Loan repayment | £ |
| Pension Scheme contribution | £ |
| Total | £ |
| Scheme | Marks | Comments |
|---|---|---|
| (Student Loan repayment = ) 0.04 × 27 000 or equivalent | M1 | Answer space takes precedence Award M1 for a full correct method that would lead to a correct answer of 1080 e.g. 1% = 270, 4% = 4 × 270 |
| (£)1080 | A1 | If M0A0 awarded for the student loan, award SC1 for:
|
| (Pension Scheme contribution = ) 27 000 ÷ 20 or 0.05 × 27000 or equivalent (£)1350 | M1 A1 | If M0A0 awarded for the pension scheme contribution, award SC1 for:
|
| (Total = ) (£)7535 ISW | B1 | FT (£)5105 + ‘their 1080’ + ‘their 1350’ correctly evaluated provided 1 mark previously awarded Sight of a total of (£)2430 implies M1A1 M1A1 B0 (from 1080 + 1350) Unsupported (£)19 465 implies (£)27000 - (£)7535 Award M1A1 M1A1 B0 |