Numeracy Intermediate November 2023 Unit 2 Q9
9. A car was bought in 1973 for £2500.
In the first year, this car depreciated by 23% of its value.
In each of the following 39 years, it depreciated by 4% of its value the previous year.
The car then started to increase in value.
In each of the next 10 years, it increased by 14% of its value the previous year.
Calculate the value of the car after these 50 years.
You must show all your working. [4]
The value of the car after 50 years is £ ……………
| Scheme | Marks | Comments |
|---|---|---|
| 2500 × (1 – 0.23) × (1 – 0.04)39 × (1 + 0.14)10 or 2500 × 0.77 × 0.9639 × 1.1410 or equivalent | M3 | May be seen in stages M2 for a product with any 3 correct terms OR M1 for a product with any 2 correct terms |
| (£) 1452(.30) | A1 | CAO, ignore premature rounding in working provided answer is (£) 1452.(…), allow rounded to (£)1450 from correct working |