Exam-Style Question on Finance
A mathematics exam-style question with a worked solution that can be revealed gradually
Question id: 141. This question is similar to one that appeared on a GCSE Higher paper (specimen) for 2017. The use of a calculator is allowed.
The value of a new house, \(V\), is given by:$$V = 120000 × 1.1^t$$
where t is the age of the house in complete years and V is in pounds.
(a) Write down the value of V when t = 0.
(b) What is the value of V when t = 4?
(c) After how many complete years will the house’s value rise above £200 000?
The worked solutions to these exam-style questions are only available to those who have a Transum Subscription.
Subscribers can drag down the panel to reveal the solution line by line. This is a very helpful strategy for the student who does not know how to do the question but given a clue, a peep at the beginnings of a method, they may be able to make progress themselves.
This could be a great resource for a teacher using a projector or for a parent helping their child work through the solution to this question. The worked solutions also contain screen shots (where needed) of the step by step calculator procedures.
A subscription also opens up the answers to all of the other online exercises, puzzles and lesson starters on Transum Mathematics and provides an ad-free browsing experience.
Drag this panel down to reveal the solution
©1997 - 2022 Transum Mathematics :: For more exam-style questions and worked solutions go to Transum.org/Maths/Exam/