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Primary General Studies: Money Management and the Smart Consumer (Paper 1 (basics))
Primary General Studies: Money Management and the Smart Consumer (Paper 1 (basics))
This is the basics paper, focusing on income and spending, needs and wants, and simple change, unit price and discount sums.
Direct answers Decide needs from wants first, then do the multiplication or division, and always write the unit.
01 Paper details (check answers afterwards)
| Item | Detail |
|---|---|
| Questions | 10 |
| Suggested time | 20 |
| Difficulty mix | Foundation 3 · Intermediate 3 · Challenge 3 · Error redo 1 |
| Chapter | Chapter: Primary General Studies: Money Management and the Smart Consumer |
| Level | P5 |
02 Questions (10 items)
- FoundationWhat is the difference between income and spending?
- FoundationWhat is the purpose of saving?
- FoundationHow do needs differ from wants?
- IntermediateWith 200 dollars of pocket money and 50 dollars saved, how much can be used?
- IntermediateThree items cost 12 dollars each; paying 50 dollars, what is the change?
- IntermediateWhich is cheaper: 500 ml for 8 dollars or 1 litre for 14 dollars?
- ChallengeSaving 150 dollars a month, how much is saved in a year?
- ChallengeTo save 600 dollars at 75 dollars a month, how many months are needed?
- ChallengeA racket priced 250 dollars is sold at 20 per cent off; what is the price and the saving?
- Error redoDoes 20 per cent off mean paying 20 per cent of the price?
03 Answers and one-line notes
| # | Answer | One-line note |
|---|---|---|
| 1 | Income is money received and spending is money paid out. | Pocket money and wages are income while stationery and fares are spending. |
| 2 | Keeping part of income for later needs or emergencies. | Saving prepares for the future instead of spending everything now. |
| 3 | Needs are necessary for daily life while wants are optional. | Rice, water and school uniform are needs; a new toy is a want. |
| 4 | 150 dollars. | 200 minus 50 gives 150. |
| 5 | 14 dollars. | Three items cost 36 dollars and 50 minus 36 leaves 14. |
| 6 | The 1 litre pack. | Per 100 ml that is 1.6 dollars against 1.4 dollars, so the bigger pack is cheaper. |
| 7 | 1 800 dollars. | 150 multiplied by 12 gives 1 800. |
| 8 | Eight months. | 600 divided by 75 gives 8. |
| 9 | It costs 200 dollars and 50 dollars is saved. | Twenty per cent off means paying 80 per cent, so 250 times 0.8 gives 200. |
| 10 | No, it means paying 80 per cent of the price. | A discount states what you still pay, so 20 per cent off leaves 80 per cent to pay. |
04 What to do after marking
- After marking, redo only the wrong items and write down which step went wrong (formula, unit, or misread number).
- Repeat the same item two days later; move to the next paper only when both attempts are correct.
- Parents only need the answer and note columns; there is no need to explain every item.
Separate needs from wants, then keep records, set a budget and compare unit prices; before buying ask whether it is really needed, whether a cheaper equivalent exists, and whether a receipt protects you.Tutor Registration →
Questions and answers are written originally by the TutorZone team and are not taken from any school, publisher or examination authority paper. Every value is checked by computer.