While Solving a problem in the level 3 exam…It is OK to use notations without defining them…
Eg. Is it of to write down the formulae
PV = C1/(1+r) + C2/(1+r)2 +…
and solve the question…
or do we have to define the terms like:
PV = Present Value; r = Interest rate ; C1 = …; C2 = …
The defining part ate up a lot of time in my last L3 attempt…
Please advise…