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question 7
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(a) Solve, correct to two decimal places, the equation 4x2 = l1x + 2l.
(b)A man invests £1500 for two years at compound interest. After one year, his money amounts to £1560. Find the:
(i) Rate of interest;
(ii) Interest for the second year.
(c)A car costs N300,OOO.00. It depreciates by 25% in the first year and 20% in the second year. Find its value after 2 years.
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Question 7(a) involves solving a quadratic equation either by completing the square or by formula. Majority of the candidates who attempted this question chose the formula method but were not able to quote the formula correctly, hence many got wrong answers. The question was not satisfactorily answered.
Question 7(b) demanded knowledge of commercial topics of simple interest1and compound interest. While some candidates could not differentiate between simple interest and compound interest, others could not apply the formula correctly.
rn the (c) part, the candidates were required to evaluate the value of a car at the end of 2 years, given the depreciation rates. It was very well handled however there were cases where candidates used the value at the beginning of the first year instead of the amount at the end of the first year. Hence missed some marks.
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