Foundation November 2020 Paper 2 Q11
11 Theo invests £500 at a rate of 6% per year simple interest.
(a) Work out the interest he receives in one year. [2]
(b) Work out the value of his investment after 5 years. [2]
| Answer | Marks | Part marks and guidance | |
|---|---|---|---|
| 30 | 2 | M1 for \(\dfrac{6}{100} \times 500\) oe | Answer 530 implies M1 |
| Answer | Marks | Part marks and guidance | |
|---|---|---|---|
| 650 | 2 | M1 for 500 + 5 × their (a) | |