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Practice

Managing Finance practice

Practise managing finance at your own pace. Choose a difficulty, try each question on paper or in your jotter, use hints only when you need a start, then show answers to check your work.

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Pupil practice

Build your confidence

Choose a difficulty and practice length, write down your working, then reveal answers only when you are ready to check. Hints give a starting point without giving away the answer.

Practice set

Current set: Mixed. Show your method for each question before checking answers.

  1. 1. A weekly payslip shows gross pay £620.00. National Insurance is 8% of earnings above £240.00 and pension is 5% of gross pay. Find the net pay after these deductions.

  2. 2. £1800.00 is saved for 3 years. Account A pays 3% compound interest yearly. Account B pays 2.8% simple interest yearly. Which produces the larger balance, and by how much?

  3. 3. For £400.00, Provider A offers £1.00 = €1.16 after a £6.00 fee. Provider B offers £1.00 = €1.14 after a 1.5% commission. Which gives more euros, and by how much?

  4. 4. £1800.00 is saved at 6% simple interest for 2 years. Find the interest and the final total.

  5. 5. A traveller changes £320.00 into euros at €1.14 for £1.00. A €12 fee is taken after the exchange. How many euros are left?

    Currency exchange

    Pounds320
    Euros per £11.14
    Fee in euros12

  6. 6. £900.00 is saved at 6% simple interest for 3 years. Find the interest and the final total.

  7. 7. A loan is repaid at £93.00 per month for 12 months with a setup fee of £40.00. What is repaid in total?

  8. 8. Option A costs £67.00 per month for 18 months plus a £0.00 fee. Option B costs £61.00 per month for 18 months plus a £60.00 fee. Which option is cheaper overall?

  9. 9. A traveller changes £240.00 into euros at €1.14 for £1.00. A €12 fee is taken after the exchange. How many euros are left?

    Currency exchange

    Pounds240
    Euros per £11.14
    Fee in euros12

  10. 10. A weekly payslip shows gross pay £680.00. National Insurance is 6% of earnings above £240.00 and pension is 5% of gross pay. Find the net pay after these deductions.

Practice answers

Check your work when you are ready.