O-LevelMathematicsNumber4024/22 · Oct/Nov 2019 · Q110 Marks
Tanya owns a small business.
- (a)Tanya has 4 employees. Every week, the employees each work for 7 3/4 hours each day for 5 days. Each employee is paid $15.20 per hour. Calculate the total amount Tanya pays her 4 employees in one week.[2]
- (b)The business made a profit of $25 700 in 2017 compared with $22 102 in 2018. Calculate the percentage decrease in profit from 2017 to 2018.[2]
- (c)Tanya must add 8% sales tax to the initial cost of a job. She then adds 15% to the cost, including sales tax, to find the amount to charge a client. Tanya charges one client a total of $465.75 for a job. Calculate the initial cost of this job.[3]
- (d)Tanya invests $8500 in an account paying 3.1% per year compound interest. At the end of 5 years she takes $9300 from the account to buy new equipment for the business. Calculate how much money is left in the account after buying the new equipment.[3]
Mark scheme
Marking points from the official mark scheme (Oct/Nov 2019). The mark or mark type is shown in brackets.
- [2] 2356
- [2] M1 for product of any three of 15.20, 7 3/4, 5 and 4
- [2] 14
- [2] M1 for (25700-22102)/25700 [×100] or 22102/25700 ×100
- [2] After 0 scored, SC1 for answer 86
- [3] 375
- [3] M2 for 465.75/(1.08×1.15) oe
- [3] or B1 for 1.08 or 1.15 oe seen
- [3] After 0 scored, SC1 for answer 379 or 378.7[0] or 378.65 to 378.66
- [3] 601.75 or 601.76
- [3] M2 for 8500×(1+3.1/100)^5 oe
- [3] or M1 for 8500×(1+k/100) oe where k>1
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