**In this 11-plus Maths quiz you will get some practice with foreign currency** and percentages.

At one time, travelling to foreign countries was a long and arduous journey, sometimes taking weeks or even months! Nowadays we can be on the other side of the world in a matter of hours. Familiarising yourself with other currencies is a good skill to have. Even more important is knowing how much your pounds will be worth in another country.

Most people can very easily work out 50% of an amount (you just half it). Are you a dab-hand at quickly working out other percentages? How about 80% of £20? Try this quiz and see if you can get ten out of ten.

Good luck!

1.

Mark has put £3,500 into a savings account. If he doesn't remove his money for 1 year, he will earn an interest of 2%. How much in pounds is 2% interest?

£7

£70

£700

£7,000

2.

James inherited 75% of his grandfather's money. If his grandfather left £125,000, how much did James inherit?

£93,750

£93,650

£93,550

£93,250

Per cent means per hundred, so 75% = ^{75}⁄_{100} = ^{3}⁄_{4} and 75% of £125,000 means that you have to multiply 75% with £125,000: ^{3}⁄_{4} × £125,000 = £93,750

3.

Paul has just arrived in the USA from the UK, and he wants to change his pounds sterling into US dollars: the exchange rate is £1 = $1.6. If he changes £2,500, how many US dollars will he get?

$1,562.50

$4,000

$400

$156.25

If £1 = $1.6, then £2,500 = 2,500 × 1.6 = $4,000

4.

It costs a shop £1 to buy an article which it then sells at a profit. If the shop wants to make a 400% profit on the sale of the article, how much must it sell it for?

£5

£4

£8

£6

Profit = Selling Price - Cost Price = £5 - £1 = £4. The shop has made a profit of £4. Now £4 as a percentage of £1 = ^{4}⁄_{1} × 100% = 400%. Yes! Don't fall into the trap of thinking that if you sell it at four times its cost that you will make a 400% profit: you have to subtract the original cost from your selling price before you can call it profit

5.

Sally gets a salary of £14,560 per annum (per year). She has now been told that she has to take a 10% reduction in her salary. How much will she earn per annum after the 10% reduction?

£13,410

£13,401

£13,140

£13,104

Per cent means per hundred, so 10% = ^{10}⁄_{100} = ^{1}⁄_{10} and 10% of £14,560 means that you have to multiply 10% with £14,560: ^{1}⁄_{10} × £14,560 = £1,456. So she will lose £1,456 from her salary: £:14,560 - £1,456 = £13,104

6.

Super Stores is giving a 50% discount on certain electrical items. If a 'Frosty' fridge sells for £548, what will it sell for if there is a 50% discount on it?

£274

£498

£247

£137

A 50% discount means that the price or cost of something is reduced by 50%. Since 50% is the same as one half, the 'Frosty' fridge will sell for £548 ÷ 2 = £274. Per cent means per hundred, so 50% = ^{50}⁄_{100} = ^{1}⁄_{2} after reducing the fraction to its simplest form by dividing the numerator and denominator by 50

7.

Janet got £12.19 in change from a £50 note after she had bought three items that each cost the same price. How much did each item cost?

£16.20

£12.60

£11.19

£37.81

£50 - £12.19 = £37.81 = what she paid for the three items ∴ 1 item cost £37.81 ÷ 3 = £12.60 (to the nearest penny)

8.

Peter is going on holiday to Germany next week, so he decides to change £500 into Euros (€). If £1 = €1.2, how many Euros will he get?

€417

€60

€6,000

€600

If £1 = €1.2, then £500 = 500 × 1.2 = €600

9.

A fine for late payment is charged at 1% per day on the money owed. If someone owes £250, how much will the fine be after one day?

£25.0

£2.50

£250

£0.25

Per cent means per hundred, so 1% = ^{1}⁄_{100} and 1% of £250 means that you have to multiply 1% with 250: ^{1}⁄_{100} × £250 = £2.50

10.

Sofia has just arrived in the UK from Italy, and she wants to change her Euros into pounds sterling: the exchange rate is £1 = €1.2. If she changes €1,200, how many pounds sterling will she get?

£1,440

£144

£1,000

£100

If £1 = €1.2, then €1,200 = 1,200 ÷ 1.2 = £1,000. You have to divide 1,200 by 1.2 because you want to find out how many 'lots' of 1.2 there are in 1,200: each 'lot' equals £1: this is the same as adding 'lots' of 1.2 to itself until you get to 1,200

^{2}⁄_{100}=^{1}⁄_{50}after reducing the fraction to its simplest form by dividing the numerator and denominator by 2 ∴ Interest =^{1}⁄_{50}× £3,500 = £70. Note: '2% of' means that you multiply the 2% with something else: in this case the £3,500. The same applies for other percentages