// Numbas version: finer_feedback_settings {"name": "23rd Nov INU0111/0511 Mini Test 1 (S1)", "metadata": {"description": "

This exam is Mini Test 1 in semester 1 of INU0111/0511.

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Students are assessed on weeks 2 and 3.

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The topics are percentages and investment.

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Normally {percent}% of students pass a particular chemistry exam. This year there were {number} students. How many failed the exam? Round your answer to the nearest whole number.

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    \n
  1. Research has shown that {percent}% of all customers who go into Buckey’s hardware store on a Saturday morning will make a purchase. If {number} customers enter this shop on a particular Saturday morning, then how many of them would the staff expect to make a purchase? Round your answer to the nearest whole number.
  2. \n
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In a sale, everything was reduced by {percent}%. If the original price of a pair of boots was £{price}, then what was the sale price?

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A second-hand sewing machine was sold on eBay for £{SP}. This represented a loss of {percentloss}% from what was paid originally by the seller. Find the original price paid by the seller.

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A van, which cost £{OP}, depreciates by {rate}% per year. How much will it be worth in {years} years?

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A smartphone was reduced by {percent}%. If its new price is £{NP}, then what was its original price, before the reduction?

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In a test, Jayne must achieve {p}% to pass. In order to pass. If there are {n} questions, how many does she need to answer correctly to pass the test?

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A woman invests £{prin}, at a rate of {rate}% per anum for {years} years. Calculate the compound interest.

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£{c} is invested into a project. For the next {y} years, the project receives £{a} pa (per anum = each year). What is the ARR (Accounting Rate of Return)?

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Here is some information about two projects over 5 years. Calculate the ARR and decide which one is the best investment.

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Project A: The capital investment is £{ca}. In the first two years, the income is £{a1}, in the third year it is £{a3} and in the final two years it is £{a4}

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Project B: The capital investment is £{cb}. In the first year, there is no income, in years 2,3 and 4 the income is £{b2} and in the final year the income is £{b5}

\n

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What is the average income for Project A?

", "minValue": "(a1*2+a3+a4*2)/5", "maxValue": "(a1*2+a3+a4*2)/5", "correctAnswerFraction": false, "allowFractions": false, "mustBeReduced": false, "mustBeReducedPC": 0, "displayAnswer": "", "precisionType": "dp", "precision": "2", "precisionPartialCredit": "50", "precisionMessage": "You have not given your answer to the correct precision.", "strictPrecision": false, "showPrecisionHint": true, "notationStyles": ["plain", "en", "si-en"], "correctAnswerStyle": "plain"}, {"type": "numberentry", "useCustomName": false, "customName": "", "marks": "2", "scripts": {}, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "showCorrectAnswer": false, "showFeedbackIcon": true, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "nextParts": [], "suggestGoingBack": false, "adaptiveMarkingPenalty": 0, "exploreObjective": null, "prompt": "

What is the average income for Project B?

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What is the ARR for Project A?

", "minValue": "((a1*2+a3+a4*2)/5)/ca*100", "maxValue": "((a1*2+a3+a4*2)/5)/ca*100", "correctAnswerFraction": false, "allowFractions": false, "mustBeReduced": false, "mustBeReducedPC": 0, "displayAnswer": "", "precisionType": "dp", "precision": 0, "precisionPartialCredit": "50", "precisionMessage": "You have not given your answer to the correct precision.", "strictPrecision": false, "showPrecisionHint": true, "notationStyles": ["plain", "en", "si-en"], "correctAnswerStyle": "plain"}, {"type": "numberentry", "useCustomName": false, "customName": "", "marks": "3", "scripts": {}, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "showCorrectAnswer": false, "showFeedbackIcon": true, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "nextParts": [], "suggestGoingBack": false, "adaptiveMarkingPenalty": 0, "exploreObjective": null, "prompt": "

What is the ARR for Project B?

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Discount the sum of £{p} that is to be received in {y} years time at a discount rate of {r}%

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The table shows information on initial investment and income per year for two projects. The discounting rate is 8%.

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Year

\n
\n

Project A (£)

\n
\n

Project B (£)

\n
\n

0

\n
\n

-{ca}

\n
\n

-{cb}

\n
\n

1

\n
\n

{a1}

\n
\n

{b1}

\n
\n

2

\n
\n

{a2}

\n
\n

{b2}

\n
\n

3

\n
\n

{a3}

\n
\n

{b3}

\n
\n

4

\n
\n

{a4}

\n
\n

{b4}

\n
\n

5

\n
\n

{a5}

\n
\n

{b5}

\n
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Calculate the present value for Project A in year 1

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Calculate the present value for Project A in year 2

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Calculate the net present value for Project A

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Calculate the net present value for Project B

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What will £{p} be worth in {y} years time if the discount rate is {r}%?

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Your test is now finished. If you have any questions please ask your teacher.

"}, "timedwarning": {"action": "warn", "message": "

You have 5 minutes left

"}}, "feedback": {"showactualmark": false, "showtotalmark": false, "showanswerstate": false, "allowrevealanswer": false, "advicethreshold": 0, "intro": "

You have 60 minutes to complete this test. You can use pen, paper and a calculator. You should not use any textbooks or websites.

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