Higher November 2017 Paper 6 Q7
7 Gustavo invests £520 for 6 years in a bank account paying simple interest.
At the end of 6 years, the amount in the bank account is £629.20.
Calculate the annual rate of interest.
........................................ % [4]
| Answer | Marks | Part marks and guidance | |
|---|---|---|---|
| 3.5 | 4 | M3 for \(\dfrac{(629.20 - 520) \div 6}{520}\) [×100] OR B2 for 18.2[0] seen OR B1 for 109.2[0] seen and M1 for their 109.2[0] ÷ 520 [× 100] | |