This is a typical Core 2 maths AS question.
I would start by explaining how a formula can be used to expand this expression and similar ones. I would then explain how to create pascal's triangle and how it can be used to simplify the method involved in solving the problem. Then I would go through the actual problem at a slow pace showing how i am using the two previous pieces of information. I think it would then be helpful if the student then has a go at another similar problem that I set for them.
The general rule for the expansion of (ax+b)^n = the sum of the terms of { nCr * ((ax)^r) * (b^(n-r)) }
At the end I would teach them how to check their answer using the calculator that you are allowed in this maths paper.