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Hi Mr John,
I have simple questions regarding investment appraisal. Is it acceptable to ALWAYS calculate my answer to the nearest 1000 even when the question does not state that? Because I sometimes do but when I go check the answer, I see the full number was taken so I wonder if I can always calculate my answers to the nearest 1000, because it is much easier specially that there is usually no space.
Secondly, are we required to show FULL workings when doing investment appraisal questions? I tend to show the working for only one year, for example if I am calculating sales and the selling price inflates by 3%, I put next to the sales row (e.g. 100*4*1.03) and this will be the calculation for first year’s sales and the rest of the years I do without showing any workings, is this safe? I admit though that I usually make arithmetical mistakes because these questions are easy but confusing due to the different prices and inflation rates, what do you suggest here? Is it better to show the workings for all? I am just concerned that if I show full workings it will be time consuming but also I am not quite sure if I make arithmetical errors, how many marks will I lose, because writing the workings will prevent such errors rather than doing it in my head. Please advise.
Thanks a lot!
Maha
Yes – nearest 1000 is fine unless the question tells you different.
And yes, there is no need to show every bit of workings. Just make it clear you know what you are doing – then any simple arithmetic errors only lose the odd half mark.
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