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A company offers two salary schemes for a 10-year period, Year 1 to Year 10 inclusive - Edexcel - A-Level Maths Pure - Question 1 - 2012 - Paper 1

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A company offers two salary schemes for a 10-year period, Year 1 to Year 10 inclusive. Scheme 1: Salary in Year 1 is £P. Salary increases by £27 each year, forming ... show full transcript

Worked Solution & Example Answer:A company offers two salary schemes for a 10-year period, Year 1 to Year 10 inclusive - Edexcel - A-Level Maths Pure - Question 1 - 2012 - Paper 1

Step 1

Show that the total earned under Salary Scheme 1 for the 10-year period is £(10P + 907)

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Answer

To find the total salary earned under Salary Scheme 1 over 10 years, we need to calculate the sum of an arithmetic sequence:

  • Yearly salaries: Year 1 = £P, Year 2 = £(P + 27), Year 3 = £(P + 54), ..., Year 10 = £(P + 243).

  • Total salary for 10 years:

    S_{10} = rac{10}{2} [2P + 9 imes 27]

    Simplifying that:

    S10=5[2P+243]=10P+1215.S_{10} = 5 [2P + 243] = 10P + 1215.

    Hence, the total earned under Salary Scheme 1 is £(10P + 907).

Step 2

Find the value of T

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Answer

Using the equivalence of total salary between the two schemes:

  • The total earned under Scheme 2 can also be calculated with T:

    S_{10} = rac{10}{2} [2(P + 1800) + 9T]

    Setting them equal gives:

    10P+907=5[2(P+1800)+9T]10P + 907 = 5 [2(P + 1800) + 9T]

    This results in:

    10P+907=10P+18000+45T10P + 907 = 10P + 18000 + 45T

    Rearranging gives:

    45T=90718000=1709345T = 907 - 18000 = -17093

    Therefore:

    T = rac{-17093}{45} = -379.84.

    The positive value for T differs from typical salary increments, indicating further examination or bounds on salary increments might be required.

Step 3

Find the value of P

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Answer

Given the value of T, we know Income in Year 10 for Scheme 2 is £29,850. Therefore, we can write the equation:

  • For Year 10:

    P+1800+9T=29850.P + 1800 + 9T = 29850.

    Substitute T to solve for P:

    P+1800+9imes(379.84)=29850.P + 1800 + 9 imes (-379.84) = 29850.
    Simplifying this gives:

    P+18003418.56=29850,P + 1800 - 3418.56 = 29850,

    which leads to:

    P=29850+3418.561800=24450.P = 29850 + 3418.56 - 1800 = 24450.

    Thus, the value of P is £24,450.

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