Numeracy Higher November 2016 Unit 2 Q2
2. The price of softwood changes each year.
The price has increased by 6% per annum for each of the last 5 years.
Before this, the price had decreased by 2% per annum.
Seven years ago the price of softwood was £34 per m3.
Calculate the current price of softwood. [3]
Current price of softwood is £ ……………… per m3
| Scheme | Marks | Comments |
|---|---|---|
| 34 × 0.982 × 1.065 | M2 | OR equivalent method to decrease by 2% and to increase by 6% on different amounts (34 × 0.982 = 32.6536) (34 × 1.065 = 45.4996…) M1 for sight of either ×0.982 or ×1.065 or equivalent calculations |
| Answer in the range (£)43.67 to (£)43.7(0) | A1 | CAO, from correct working |