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.
Build your confidence
Choose a difficulty and number of questions, write down your working, then reveal answers only when you are ready to check. Hints give a starting point without giving away the answer.
10 practice questions
Current set: Mixed. Show your method for each question before checking answers.
1. A family has monthly income £2150.00. Rent is £820.00, bills are £455.00, food is £410.00 and travel is £140.00. How much is left for other spending?
Monthly budget
Income 2150 Rent 820 Bills 455 Food 410 Travel 140 2. £2100.00 is saved at 4% simple interest for 2 years. Find the interest and the final total.
3. A payslip shows gross pay of £250.00, tax of £67.00, and pension deduction of £17.00. What is the net pay?
4. 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
Pounds 320 Euros per £1 1.14 Fee in euros 12 5. A traveller changes £180.00 into euros at €1.12 for £1.00. A €8 fee is taken after the exchange. How many euros are left?
Currency exchange
Pounds 180 Euros per £1 1.12 Fee in euros 8 6. A cafe worker is paid £10.50 per hour and works 27 hours. What is the gross pay?
7. A payslip shows gross pay of £300.00, tax of £69.00, and pension deduction of £24.00. What is the net pay?
8. A weekly budget has income £660.00, rent £450.00, food £147.00, and travel £58.00. How much is left?
Weekly budget
Income 660 Rent 450 Food 147 Travel 58 9. A worker earns £13.60 per hour for 32 basic hours and £20.40 per hour for 4 overtime hours. 20% deductions are taken from gross pay. Estimate the take-home pay.
Payslip summary
Basic hours 32 Overtime hours 4 Deduction percent 20 10. Contract A costs £17.99 per month plus £60.00 upfront. Contract B costs £21.24 per month plus £0.00 upfront. Which is cheaper over 18 months, and by how much?
Phone contract comparison
A monthly 17.99 A upfront 60 B monthly 21.24 B upfront 0
Practice answers
Check your work when you are ready.