Jack has a 5 pound note. He buys a chocolate bar costing 1.15 pounds.
(Total for Question 1 is 2 marks)
2
Freya buys 4 pens costing 65p each. Work out the total cost.
(Total for Question 2 is 2 marks)
3
Ibrahim buys a magazine for 3.20 pounds and a pack of stickers for 1.85 pounds. He pays with a 10 pound note. How much change should he receive?
(Total for Question 3 is 3 marks)
4
Lucy saves 3.50 pounds each week from her pocket money.
(a)Calculate how much she has saved after 8 weeks.(2)
(b)Work out the least number of whole weeks needed for her total savings to be at least 47 pounds.(3)
(Total for Question 4 is 5 marks)
5
Tomasz and Olamide share 72 pounds in the ratio 5 : 3. Work out how much each person receives.
(Total for Question 5 is 3 marks)
6
A jacket costs 48 pounds. In a sale it is reduced by 25%. Calculate the sale price.
(Total for Question 6 is 3 marks)
7
A bus fare of 2.40 pounds increases by 15%. Calculate the new fare.
(Total for Question 7 is 3 marks)
8
Shop A sells a box of 6 juice cartons for 2.70 pounds. Shop B sells a box of 8 identical cartons for 3.44 pounds.
(a)Work out the cost per carton at each shop.(2)
(b)Which shop offers better value for money? Give a reason.(1)
(Total for Question 8 is 3 marks)
9
Ravi puts 250 pounds into a savings account paying 4% simple interest per year.
(a)Calculate the interest earned after 1 year.(2)
(b)Calculate the total amount in the account after 3 years.(2)
(Total for Question 9 is 4 marks)
10
After a 20% discount, a pair of trainers costs 52 pounds. Work out the original price.
(Total for Question 10 is 3 marks)
11
Six friends share a restaurant bill of 87 pounds equally, but first they add a 10% tip to the bill.
(a)Calculate the total bill including the tip.(2)
(b)Work out how much each of the 6 friends should pay. Give your answer to the nearest penny.(2)
(Total for Question 11 is 4 marks)
12
Megan has only 50p coins and 20p coins in her purse. She has 17 coins altogether, worth 6.10 pounds in total. Work out how many of each coin she has.
(Total for Question 12 is 4 marks)
13
Elin is shopping for stationery. Prices are: notebook 1.40 pounds, pen 0.55 pounds, ruler 0.35 pounds, pencil case 2.20 pounds. She buys 3 notebooks, 4 pens and 1 ruler.
(a)Calculate the total cost of her shopping.(3)
(b)She pays with two 5 pound notes. How much change does she receive?(2)
(Total for Question 13 is 5 marks)
14
Daniel buys a bike for 120 pounds and sells it for 96 pounds.
(a)Calculate his loss.(1)
(b)Calculate his loss as a percentage of the price he paid for the bike.(2)
(Total for Question 14 is 3 marks)
15
Amara receives 45 pounds as a birthday gift. She spends 2/5 of it on clothes, then spends 1/3 of what is left on a book. How much money does she have left after buying the book?
(Total for Question 15 is 4 marks)
16
A recipe for 4 people costs 6.80 pounds to make. Kwame wants to make enough for 10 people. Assuming the cost is directly proportional to the number of people, calculate the cost for 10 people.
(Total for Question 16 is 3 marks)
17
Chloe spent 3/4 of her money on a games controller. She had 15 pounds left. How much money did she have originally?
(Total for Question 17 is 3 marks)
18
A television is priced at 480 pounds. In a sale it is reduced by 30%. Yusuf also has a voucher giving a further 10% off the sale price.
(a)Calculate the price after the 30% sale discount.(2)
(b)Calculate the final price after the voucher is applied to the sale price.(2)
(c)Work out the overall percentage reduction from the original price of 480 pounds.(2)
(Total for Question 18 is 6 marks)
19
Priya invests 400 pounds in a savings account.
(a)The account pays 5% simple interest per year. Calculate the total amount in the account after 2 years.(3)
(b)Suppose instead the account pays 5% compound interest per year (interest is added to the balance and then itself earns interest). Calculate the total amount after 2 years.(3)
(Total for Question 19 is 6 marks)
20
Ibrahim, Freya and Olamide pooled their money to buy a present. Ibrahim gave 4 pounds more than Freya. Olamide gave twice as much as Freya. Altogether they gave 44 pounds. How much did each person give?
(Total for Question 20 is 5 marks)
Mark scheme · EP.M8 Money Problems
Question 1
M1 Correct subtraction set up, e.g. 5.00 - 1.15 (oe)
A1 3.85 cao
Answer: 3.85 pounds
Question 2
M1 4 x 0.65 (oe)
A1 2.60 cao (accept 260p)
Answer: 2.60 pounds
Question 3
M1 3.20 + 1.85 (oe)
M1 10.00 - their total (ft)
A1 4.95 cao
Answer: 4.95 pounds
Question 4
(a) M1 3.50 x 8 (oe)
(a) A1 28.00 cao
(a) Answer: 28.00 pounds
(b) M1 47 / 3.50 (oe), awrt 13.4
(b) dM1 Rounds up to next whole number of weeks with reasoning (13 weeks gives 45.50, not enough)
(b) A1 14 cao
(b) Answer: 14 weeks
Question 5
M1 72 / 8 = 9 (value of one share, oe)
A1 Tomasz = 45 cao
A1 Olamide = 27 cao
Answer: Tomasz 45 pounds, Olamide 27 pounds
Question 6
M1 10% of 48 = 4.80, so 25% = 12 (oe method)
A1 12 seen
A1 36 cao
Answer: 36 pounds
Question 7
M1 10% of 2.40 = 0.24 and 5% = 0.12, so 15% = 0.36 (oe method)
A1 0.36 seen
A1 2.76 cao
Answer: 2.76 pounds
Question 8
(a) M1 2.70 / 6 and 3.44 / 8 (oe method for both)
(a) A1 Shop A = 45p and Shop B = 43p, both cao
(a) Answer: Shop A 45p, Shop B 43p
(b) B1 Shop B, because it has a lower cost per carton (43p < 45p), ft from (a)
(b) Answer: Shop B
Question 9
(a) M1 4% of 250 (oe)
(a) A1 10 cao
(a) Answer: 10 pounds
(b) M1 250 + 3 x their (a) (ft)
(b) A1 280 cao
(b) Answer: 280 pounds
Question 10
M1 Recognises 52 represents 80% of the original price
dM1 Finds 1% = 0.65 and scales to 100% (oe method)
A1 65 cao
Answer: 65 pounds
Question 11
(a) M1 87 x 1.10 (oe)
(a) A1 95.70 cao
(a) Answer: 95.70 pounds
(b) M1 their (a) / 6 (ft)
(b) A1 15.95 cao
(b) Answer: 15.95 pounds
Question 12
M1 Sets up two correct equations or a correct systematic method, e.g. x + y = 17 and 5x + 2y = 61 (oe)
dM1 Correctly eliminates one variable or uses trial and improvement systematically
A1 9 fifty-pence coins cao
A1 8 twenty-pence coins cao, ft
Answer: 9 fifty-pence coins and 8 twenty-pence coins
Question 13
(a) M1 3 x 1.40 and 4 x 0.55 (oe), both values attempted
(a) M1 Adds all three amounts including the ruler (oe)
(a) A1 6.75 cao
(a) Answer: 6.75 pounds
(b) M1 10.00 - their (a) (ft)
(b) A1 3.25 cao
(b) Answer: 3.25 pounds
Question 14
(a) B1 24 cao
(a) Answer: 24 pounds
(b) M1 their (a) / 120 (ft)
(b) A1 20% cao
(b) Answer: 20%
Question 15
M1 2/5 of 45 = 18 (oe)
M1 45 - 18 = 27 (remainder, ft)
M1 1/3 of 27 = 9 (ft)
A1 18 cao
Answer: 18 pounds
Question 16
M1 6.80 / 4 = 1.70 (cost per person, oe)
M1 their cost per person x 10 (ft)
A1 17.00 cao
Answer: 17.00 pounds
Question 17
M1 Recognises 15 pounds represents 1/4 of the original amount
dM1 Multiplies 15 by 4 (oe)
A1 60 cao
Answer: 60 pounds
Question 18
(a) M1 480 x 0.70 (oe)
(a) A1 336 cao
(a) Answer: 336 pounds
(b) M1 their (a) x 0.90 (ft)
(b) A1 302.40 cao
(b) Answer: 302.40 pounds
(c) M1 (480 - their (b)) / 480 (ft)
(c) A1 37% cao
(c) Answer: 37%
Question 19
(a) M1 5% of 400 = 20 (interest per year, oe)
(a) M1 400 + 2 x 20 (ft)
(a) A1 440 cao
(a) Answer: 440 pounds
(b) M1 400 x 1.05 = 420 (year 1 balance, oe)
(b) M1 420 x 1.05 (year 2 balance, ft)
(b) A1 441 cao
(b) Answer: 441 pounds
Question 20
M1 Lets Freya = x and forms the equation x + (x + 4) + 2x = 44 (oe)
dM1 Simplifies and solves to find x, e.g. 4x + 4 = 44
A1 Freya = 10 cao
A1 Ibrahim = 14 cao, ft
A1 Olamide = 20 cao, ft
Answer: Freya 10 pounds, Ibrahim 14 pounds, Olamide 20 pounds