Take the test . Can you work out how much change you should get from your shopping? Phenomenal weakness in adult Financial skills
The study, from Cambridge University and University College London, phenomenal weaknesses in adults\’ financial skills across 31 countries. It found that a quarter of adults find simple financial graphs, addition and subtractions a challenge.
How do you fare with a sample of some of the questions.
Examples of the sorts of questions asked
1. If you bought four packs of tea: chamomile (£4.60), green (£4.15), black (£3.35) and lemon (£1.80) with a £20 note, how much change would you get?
2. If a litre of cola costs £3.15, how much will you pay for a third of a litre?
3. If a football club offers the same discount for all season tickets – Main Stand – $50 for single entry, £300 for a season; Stand 2 – £35 for single entry, £210 for a season; Stand 3 – £25 for single entry, £150 for a season – what would the price be for a Stand 4 season ticket, where a single entry costs £21?
The answers are £6.10, £1.05 and £126 respectively.
A few tips to help with calculations
4: 11 times a number. 11 x 16 is – Separate out the 1 and 6 ( from the number 16) Then add the one and six together and put it in the middle 1 7 6. The answer to 11 times 16 is 176! Try it for 14 times 11 and check your answer on a calculator.