Money Problems
Calculating change, totals, discounts, profit and loss, and currency conversions.
What is Money Problems?
Money problems test your ability to add, subtract, multiply and divide with decimals in real-world contexts. In the 11+ exam, you may need to calculate totals, work out change, apply discounts or solve multi-step word problems involving money.
All money answers should be given in pounds and pence (e.g. 3.45 pounds), with two decimal places.
Step-by-Step Method
Convert everything to the same unit
Work in pence or in pounds – do not mix them. 1 pound = 100p.
For totals, multiply and add
Find the cost of each item (price x quantity) and add them together.
For change, subtract the total from the amount paid
Change = amount paid – total cost.
For discounts, find the percentage off first
Calculate the discount amount, then subtract it from the original price.
Always give your answer in the correct format
Use two decimal places for money: write 3.50 pounds, not 3.5 pounds.
Worked Examples
Books cost 3.75 pounds each. Tom buys 3 books and pays with a 20 pound note. How much change does he get?
Working
- Total: 3.75 x 3 = 11.25 pounds.
- Change: 20.00 – 11.25 = 8.75 pounds.
A jacket costs 48 pounds. It has 25% off. What is the sale price?
Working
- 25% of 48 = 48 / 4 = 12 pounds discount.
- Sale price: 48 – 12 = 36 pounds.
Convert 50 pounds to euros if the exchange rate is 1 pound = 1.15 euros.
Working
- 50 x 1.15 = 57.50 euros.
Common Mistakes
Mixing pounds and pence in calculations (e.g. adding 3.75 + 50p as 3.75 + 50 = 53.75).
Convert to the same unit first: 50p = 0.50 pounds, so 3.75 + 0.50 = 4.25 pounds.
Forgetting to carry when adding decimals.
Line up the decimal points carefully and carry just like with whole numbers.
Giving the wrong number of decimal places (e.g. 3.5 instead of 3.50).
Money always has exactly 2 decimal places.
Top Tips
- Work in pence for simpler calculations, then convert back to pounds at the end.
- For percentage discounts, finding 10% first is often the quickest method.
- Always check: does your change + your total = what you paid? This is a good error check.
- Read the question carefully – it might ask for the sale price (after discount) or the discount amount itself.
Ready to practise?
Put these techniques into action with our free practice papers.
Practise Maths Questions