Numeracy Intermediate November 2022 Unit 2 Q5
5.
(a)
Last year, Viktor’s total income before tax was 28 000 euros.
The tax bands, taxable income and tax rates for last year were as follows:
| Band | Taxable income | Tax rate |
|---|---|---|
| Personal allowance | Up to 10 000 euros | 0% |
| Basic rate | 10 000 euros to 25 000 euros | 22% |
| Higher rate | Over 25 000 euros | 35% |
Viktor has already paid 3600 euros towards his income tax bill for last year.
Calculate how much income tax Viktor still owes.
You must show all your working. [7]
(b) When Viktor paid 3600 euros towards his bill, the exchange rate was £1 = 1.11 euros.
How much was 3600 euros in pounds?
Give your answer correct to the nearest penny. [2]
How much was 3600 euros in pounds?
Give your answer correct to the nearest penny. [2]
£ …………………………
| Scheme | Marks | Comments | ||||
|---|---|---|---|---|---|---|
| Ignore £ for € throughout | ||||||
| (Tax at 22%) 0.22 × 15000 or 0.22 × (25000 – 10000) or equivalent | M2 | M1 for appropriate sight of 25000 – 10000 (= €15000) | ||||
| (Tax at 35%) 0.35 × 3000 or 0.35 × (28000 – 25000) or equivalent | M2 | M1 for 28000 – 25000 (= €3000) | ||||
| (Total tax due 3300 + 1050 =) 4350 (euros) | A2 | CAO A1 for sight of 3300 (euros) or 1050 (euros) | ||||
| (Tax still owed 4350 – 3600 =) 750 (euros) | B1 | FT for positive answers only, 'their derived 4350' – 3600, provided 3300 + ..... or ... + 1050 seen, i.e. sum of two amounts with at least one amount correct If no marks, for special cases award one of the following:
|
| Scheme | Marks | Comments |
|---|---|---|
| 3600 ÷ 1.11 | M1 | |
| (£) 3243.24 | A1 | Answer space takes precedence Sight of (£) 3243 or 3243.2(4324....) implies M1 |