O-LevelMathematicsNumber4024/22 · May/June 2021 · Q18 Marks
The price of an electric drill is $78. In a sale, the price is reduced by 15%. Calculate the sale price.
- (a)The price of an electric drill is $78. In a sale, the price is reduced by 15%. Calculate the sale price.[2]
- (b)The exchange rate between dollars ($) and euros (€) is $1 = €0.85. Michael changes $100 to euros. He buys a clock costing €58.99. He changes the remaining money back to dollars. Calculate the amount, in dollars, he has left.[2]
- (c)ACE SIMPLE Simple interest at 2.1% per year COOL COMPOUND Compound interest at 2% per year Pietro invests $3500 in the Ace Simple account for 4 years. Eliana invests $3500 in the Cool Compound account for 4 years. At the end of the 4 years, who has more money in their account and by how much?[4]
Mark scheme
Marking points from the official mark scheme (May/June 2021). The mark or mark type is shown in brackets.
- [2] (a) 66.3[0] M1 for 78 - 15/100 * 78 oe or B1 for 11.7[0]
- [2] (b) 30.6[0] M1 for 100 * 0.85 – 58.99 or 58.99 / 0.85
- [4] (c) Pietro and 5.48 or 5.49 M1 for 3500+(3500×2.1×4)/100 oe AND M2 for 3500(1+2/100)^4 oe or M1 for 3500(1+2/100)^k oe where k >1 or after MO, SC1 for 3500(1+2/100)^4+3500
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