Foundation June 2025 Paper 1R Q26
26 Zhou invests some money for 2 years.
He invests $2500 with Bank A and $3000 with Bank B.
| Bank A Invests $2500 amount of money invested : total amount of interest after 2 years = 20 : 3 |
| Bank B Invests $3000 4% per year compound interest for 2 years |
Zhou receives more interest from Bank A than from Bank B.
How much more?
(5)
| Scheme | Marks |
|---|---|
| 2500 ÷ 20 × 3 (= 375) oe or 125 × 3 (=375) or 7500 ÷ 20 (= 375) 3000 ÷ 20 × 3 (= 450) oe or 150 × 3 (= 450) or 9000 ÷ 20 (= 450) | M1 |
| for 0.04 × 3000 (= 120) or 0.04 × 2500 oe (= 100) or 1.04 × 3000 oe (= 3120) or 1.04 × 2500 oe (= 2600) or 3000 × 1.042 (= 3244.8) or 2500 × 1.042 (=2704) | M1 |
| 1.04 × “3120” oe (= 3244.8) 1.04 × “2600” oe (= 2704) | M1 |
| eg “3244.8” – 3000 (= 244.8) or “2704” – 2500 (= 204) | M1 |
| Correct answer scores full marks (unless from obvious incorrect working) Answer: 130.2(0) | A1 |
| (5) | |
| (5 marks) |
Notes
M1: for a method to find the interest for Bank A
2875 or 3450 implies this method mark
M1: for finding 4% or 104% of 3000 or 2500
M1: for completing method to find the total amount for Bank B
M1: for a complete method to find the interest for Bank B
OR M2 for 3000 × 1.042 (= 3244.8) or 2500 × 1.042 (=2704) or 3000 × 1.043 (= 3374.59) or 2500 × 1.043 (= 2812.16)
SC: if none of the 2nd or 3rd M marks gained award M1 for
0.08 × 3000 oe or 240 or 1.08 × 3000 or 3240 or 0.08 × 2500 oe or 200 or 1.08 × 2500 or 2700 or 3000 × (1 – 0.04)2 (= 2764.8(0)) or 2500 × (1 – 0.04)2 (= 2304)
accept (1 + 0.04) or \(\left(1 + \dfrac{4}{100}\right)\) as equivalent to 1.04 throughout