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GCSE Maths · Number
Money problems GCSE Questions and Worked Answers
Track what money comes in, what goes out and the units used. Build the calculation from the situation, then round the final payment appropriately.
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Start with the meaning
What you need to know about money problems
Suppose you receive £180 in a week and spend £24 on travel and £46 on food. Money received increases the amount available; money spent reduces it. A budget lists both so you can work out what remains. Here £180 − £24 − £46 = £110. Amounts must use one unit: £1 is 100p, so 65p is £0.65, not £65.
See the idea first
Separate incoming and outgoing amounts
The remaining £110 is a result, not extra income. In a bank account, a credit usually adds money and a debit removes it. A negative balance means money is owed; the negative-number guide explains arithmetic across zero.
| Item | Money in | Money out |
|---|---|---|
| Pay | £180 | — |
| Travel | — | £24 |
| Food | — | £46 |
From problem to method
Typical problems you need to be able to solve
These are the main kinds of question in this topic. Each card first states the problem, then explains how to solve it.
Find pay
What the problem asks: Work 12 hours at £11 per hour. Find gross pay.
How to solve it: 12 equal hourly payments total 12 × £11 = £132. Gross pay is before deductions; net pay is what remains after them.
Find profit
What the problem asks: An item costs £45 to buy and sells for £60. Find profit and percentage profit on cost.
How to solve it: Profit is £60 − £45 = £15. Divide by the original £45 cost: 15/45 × 100 = 33⅓%.
Convert currency
What the problem asks: Given £1 = €1.25, convert £80 to euros.
How to solve it: Each pound gives 1.25 euros, so multiply: 80 × 1.25 = €100. To reverse the exchange, divide by 1.25.
A reliable routine
Model a money situation before calculating
There is no single operation for all money problems. First identify what each amount represents; then use addition, subtraction, multiplication or division for that relationship.
- Put related amounts in the same currency or unit.
- For earnings, multiply each rate by the time or quantity it applies to.
- For balances and profit, subtract the relevant outgoing amounts.
- Apply stated percentage rules to the correct base and round the final monetary amount to pennies when appropriate.
Check: All rates, wages, tax bands and exchange rates below are invented for maths practice. They are not current financial or legal guidance. Apply only the rules supplied in the question.
Fully worked
Money problems GCSE worked examples
Each solution explains the clue, why the method fits and how to check the result.
Example 1
Shopping and change
Question
Buy three pens at £1.35 each and a notebook at £2.80. Find change from £10.
Change: £3.15.
Example 2
Hourly pay
Question
A worker earns £12 per hour for 7.5 hours. Find gross pay.
Seven hours give £84 and half an hour gives £6.
Gross pay: £90.
Example 3
Overtime
Question
Basic pay is £10 per hour for 30 hours. Four extra hours are paid at time-and-a-half. Find gross pay.
Overtime rate: £10 × 1.5 = £15/hour.
Gross pay: £360.
Example 4
Budget shortfall
Question
Income is £240. Planned spending is £85, £72 and £96. Is the budget affordable?
It is £13 over budget.
Example 5
Profit percentage
Question
A trader buys an item for £80 and sells it for £104. Find percentage profit on cost.
Profit: £104 − £80 = £24.
The base is cost, not selling price.
Example 6
A stated tax rule
Question
In an invented weekly tax system, the first £200 is tax-free and only the amount above £200 is taxed at 20%. Gross pay is £350. Find net pay, ignoring other deductions.
Taxable amount: £350 − £200 = £150.
Net pay: £320. Do not tax the exempt portion.
10 original questions · total 25 marks
Money problems GCSE exam-style questions
Try each question before opening its fully worked answer. The difficulty rises through the set.
Before you startAllow about 30 minutes · Show your working. Give exact answers unless a question asks you to round, and include units where needed. · answers start collapsed
Pence
Write 85p in pounds.
Show worked answer
£0.85, because 85 ÷ 100 = 0.85.
Change
Find change from £20 for a £13.65 purchase.
Show worked answer
£6.35.
Wages
Find pay for 8 hours at £11.50 per hour.
Show worked answer
£92.
Time conversion
Find pay for 2 hours 30 minutes at £14 per hour.
Show worked answer
30 minutes is half an hour, not 0.30 hours.
£35.
Commission
A worker receives £60 plus 5% of £800 sales. Find total pay.
Show worked answer
£100.
Loss
An item bought for £70 sells for £56. Find the loss.
Show worked answer
The loss is £14.
VAT in a question
A question states that 20% VAT is added to a £45 price. Find the final price.
Show worked answer
£54, using the stated rate.
Currency
Given £1 = €1.25 and no fee, convert €75 to pounds.
Show worked answer
Each pound corresponds to €1.25, so
£60.
Compare tariffs
Taxi A charges £3 plus £2 per km. Taxi B charges £5 plus £1.50 per km. Which is cheaper for 6 km?
Show worked answer
A: 3 + 2 × 6 = £15. B: 5 + 1.5 × 6 = £14. B is £1 cheaper.
Bank balance
An account starts at −£25. A £90 credit is followed by a £48 debit. Find the balance.
Show worked answer
Balance: £17.
Examiner-style feedback
Common money problems mistakes
Thirty minutes is 0.5 hours, giving 2.5 hours.
Tax bands, commission and percentage profit each have a specified base.
A remaining balance is not an extra payment.
30-second recap
Choose, carry out, check
Translate the wording before you reach for a rule.
- Label incoming and outgoing amounts.
- Convert time and currency carefully.
- Use the stated rate and base.
- Give a meaningful money answer.
Quick answers
Money problems FAQ
Are these current tax rates?
No. Every tax or exchange rule here is hypothetical and supplied solely for maths practice.
Should money always have two decimals?
Final payments usually use pennies, such as £6.35. Keep extra precision during intermediate calculations.
Content standards
Curriculum and rights review
N2/N13/R1/R9/R11 money, units, rates of pay and percentage contexts across tiers; invented rates only. Questions, suggested marks, solutions and diagrams are original practice material, not official past-paper questions.
Official specification references