Money (Copy)

IGCSE Mathematics 0580 – Money and Currency Calculations Practice Exam
Divided into Paper 1 (Non-Calculator) and Paper 2 (Calculator Allowed)
Includes Full Worked Solutions

PAPER 1 – NON-CALCULATOR SECTION

Q1.
Ali buys 3 pencils at ₨18 each.
Calculate the total cost.

Solution:
3 × 18 = ₨54
Answer: ₨54

Q2.
Sara buys a notebook for ₨85 and sells it for ₨100.
Calculate the profit and the percentage profit.

Solution:
Profit = 100 – 85 = ₨15
% Profit = (15 ÷ 85) × 100 = 17.65% (approx.)
Answer: ₨15, 17.65%

Q3.
A shirt costs ₨750. It is on sale at 20% off.
Find the sale price.

Solution:
Discount = (20 ÷ 100) × 750 = ₨150
Sale Price = 750 – 150 = ₨600
Answer: ₨600

Q4.
Divide ₨480 equally among 6 people.

Solution:
480 ÷ 6 = ₨80 each
Answer: ₨80

Q5.
A man paid ₨1,150 for a phone, including 15% tax.
Find the original price before tax.

Solution:
Let original price = x
x + 0.15x = 1150 → 1.15x = 1150
x = 1150 ÷ 1.15 = ₨1000
Answer: ₨1000

PAPER 2 – CALCULATOR ALLOWED SECTION

Q6.
A mobile phone costs $225. Exchange rate is 1 USD = ₨280.
Find the cost in rupees.

Solution:
225 × 280 = ₨63,000
Answer: ₨63,000

Q7.
You have ₨49,000 and want to convert it to USD.
Exchange rate: $1 = ₨280.
How many dollars will you get?

Solution:
49,000 ÷ 280 = $175
Answer: $175

Q8.
An item costs ₨1200. VAT is 17%.
a) Calculate the VAT
b) Find the total price

Solution:
a) (17 ÷ 100) × 1200 = ₨204
b) 1200 + 204 = ₨1404
Answer: ₨204, ₨1404

Q9.
You invest ₨40,000 for 2 years at 6% simple interest.
Find the total interest and final amount.

Solution:
Interest = (P × R × T) ÷ 100
= (40,000 × 6 × 2) ÷ 100 = ₨4,800
Final amount = 40,000 + 4,800 = ₨44,800
Answer: ₨4,800, ₨44,800

Q10.
A bag was bought for ₨4,500 and sold for ₨3,825.
a) Find the loss
b) Calculate percentage loss

Solution:
a) Loss = 4500 – 3825 = ₨675
b) (675 ÷ 4500) × 100 = 15%
Answer: ₨675, 15%

Q11.
A laptop costing ₨150,000 is being paid in 10 monthly installments.
Find the monthly installment amount.

Solution:
150,000 ÷ 10 = ₨15,000
Answer: ₨15,000 per month

Q12.
Convert £320 into rupees using £1 = ₨362.5

Solution:
320 × 362.5 = ₨116,000
Answer: ₨116,000

Q13.
You travel to the UK with ₨217,500.
If £1 = ₨362.5, how many pounds do you receive?

Solution:
217,500 ÷ 362.5 = £600
Answer: £600

Q14.
A commission agent gets 8% commission on sales of ₨85,000.
How much commission does he earn?

Solution:
(8 ÷ 100) × 85,000 = ₨6,800
Answer: ₨6,800

Q15.
A product is marked at ₨12,500.
It is sold after two successive discounts of 10% and 5%.
Find the final price.

Solution:
After 10%: 12,500 – (10% of 12,500) = 12,500 – 1250 = ₨11,250
After 5%: 11,250 – (5% of 11,250) = 11,250 – 562.5 = ₨10,687.5
Answer: ₨10,687.50