Foundation January 2019 Paper 1 Q14

EdexcelFoundationCurrent spec6 marksPercentages

14 The table gives information about the price of gold.

	1st February 2016	1st March 2016
Price of one ounce of gold (dollars)	1126.50	1236.50

(a) Work out the percentage increase in the price of gold between 1st February 2016 and 1st March 2016
Give your answer correct to 3 significant figures. (3)

The price of one ounce of gold on 1st February 2016 was 1126.50 dollars.

The price of gold increased by 19% from 1st February 2016 to 1st July 2016

(b) Work out the price of one ounce of gold on 1st July 2016
Give your answer correct to the nearest dollar. (3)

Mark scheme (a)

Scheme	Marks
1236.5 − 1126.5 or 110 or \(\dfrac{1236.5}{1126.5}\) or 1.09(7647...) or \(\dfrac{1236.5}{1126.5} \times 100\) or 109(.7647...)	M1
\(\dfrac{1236.5 - 1126.5}{1126.5}\) or \(\dfrac{\text{``}{110}\text{''}}{1126.5}\) or \(\left(\dfrac{1236.5}{1126.5} - 1\right)\) or (1.09(764...) − 1) or \(\dfrac{1236.5}{1126.5} \times 100 - 100\) or 0.0976(475...)	M1
9.76	A1
	(3)

Notes

M1: for method that would result in 9.76… or 0.0976…

A1: for 9.76 - 9.765

Scheme	Marks
1126.5 × 1.19 oe	M2
1341	A1
	(3)
	(6 marks)