Each year the selling price of a diamond necklace increases by $$\(5 \%\)$$ of the price the year before. The selling price of the necklace in the year 2000 was $$\(\$ 36000\)$$. Write down an expression for the selling price of the necklace $$\(n\)$$ years later and hence find the selling price in 2008. ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................ ........................................................................................................................................................
Exam No：9709_s20_qp_11 Year：2020 Question No：3(a)
Answer:
\(\$ 36000 \times(1.05)^{n}\)
(B1 for \(r=1.05\). M1 method for \(r\) th term)
\(\$ 53200\) after 8 years.
(B1 for \(r=1.05\). M1 method for \(r\) th term)
\(\$ 53200\) after 8 years.
Knowledge points:
1.6.2 recognise arithmetic and geometric progressions
Solution:
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