Higher November 2017 Paper 2 Q13
13 At the beginning of 2009, Mr Veale bought a company.
The value of the company was £50 000
Each year the value of the company increased by 2%.
(a) Calculate the value of the company at the beginning of 2017
Give your answer correct to the nearest £100 (2)
Give your answer correct to the nearest £100 (2)
At the beginning of 2009 the value of a different company was £250 000
In 6 years the value of this company increased to £325 000
This is equivalent to an increase of \(x\)% each year.
(b) Find the value of \(x\).
Give your answer correct to 2 significant figures. (3)
Give your answer correct to 2 significant figures. (3)
| Answer | Mark | Notes |
|---|---|---|
| 58600 | M1 | for a complete method, eg \(50000 \times 1.02^8\ (= 58582(.969\ldots))\) or for finding the increase in value of the company after 8 years, eg 8582(.969...) or 8600 |
| A1 | cao |
| Answer | Mark | Notes |
|---|---|---|
| 4.5 | P1 | for a process to find multiplier for 6 year period, eg \(325 \div 250\) oe \((= 1.3)\) or 130(%) or for \(250000 \times y^6 = 325000\) |
| P1 | for a process to find multiplier for one year, eg \((\text{``}1.3\text{''})^{\frac{1}{6}}\) or 1.044…or 1.045 | |
| A1 | 4.4 – 4.5 |