Solving Problems - Money (Difficult)
How many 20p coins are there in £100?

Solving Problems - Money (Difficult)

Solving money problems is a vital skill to learn. Don't forget: £1 = 100 p (p = pence). Make sure that you do ALL the other money quizzes BEFORE you do this one. See if you can get every question correct - and give yourself a pat on the back if you do!

If you want some extra practice dealing with money, start collecting all the coins you can find. When you have a good amount, see how many ways you can make £1, £5 or £10. How many 5ps are in £1? How many 20ps are in £5? The more you practise, the better you will be as you start to use money in your life.

Read each question carefully, looking at all four answers first before making your choice. Take your time and good luck!

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  1. Which one of the following calculations or statements is correct?
    If £1 = $1.6, then $1,600 = 1,600 ÷ 1.6 = £1,000. You have to divide 1,600 by 1.6 because you want to find out how many 'lots' of 1.6 there are in 1,600: each 'lot' equals £1: this is the same as adding 'lots' of 1.6 to itself until you get to 1,600
  2. Which one of the following calculations or statements is correct?
    For example: if Selling Price = £6 and Cost Price = £1, Profit = £6 - £1 = £5: a profit of £5. Now £5 as a percentage of £1 = 51 × 100% = 500%. Yes! Don't fall into the trap of thinking that if you sell it at six times its cost, then you will make a 600% profit: you have to subtract the original cost from your selling price before you can call it profit
  3. Which one of the following calculations or statements is correct?
    25% = 25100 = 14
  4. Which one of the following calculations or statements is correct?
    £450 = 1.2 × 450 = €540
  5. Which one of the following calculations or statements is correct?
    12 as a percentage of 4 is given by 124 × 100 = 31 × 100 = 300%. What's the percentage profit?
  6. Which one of the following calculations or statements is correct?
    There are five 20 p coins in £1 ∴ in £100 there are 100 × 5 = 500
  7. Which one of the following calculations or statements is correct?
    Just add the numbers up to see it!
  8. Which one of the following calculations or statements is correct?
    35% of £600 = 35100 × 600 = 720 × 600 = £210 which was spent on entertainment ∴ £600 - £210 = £390 was spent on food and bills
  9. Which one of the following calculations or statements is correct?
    Profit = Selling Price - Cost Price = £35 - £45 = £10. You have made a loss of £10 NOT £-10
  10. Which one of the following calculations or statements is correct?
    50 as a percentage of 250 is given by 50250 × 100 = 15 × 100 = 20%

Author: Frank Evans

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