Higher June 2018 Paper 3 Q11
11 In 2003, Jerry bought a house.
In 2007, Jerry sold the house to Mia.
He made a profit of 20%
In 2012, Mia sold the house for £162 000
She made a loss of 10%
Work out how much Jerry paid for the house in 2003 (3)
| Answer | Mark | Mark scheme |
|---|---|---|
| 150 000 | P1 | for process to find cost in 2007, eg \(162\,000 \div 0.9\) (= 180 000) oe |
| P1 | for process to find cost in 2003, eg [cost in 2007] \(\div\ 1.2\) (= 150 000) oe | |
| A1 | cao |
Additional guidance
Award 2 marks for \(162\,000 \div 1.08\) oe