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Primary General Studies: Money Management and the Smart Consumer (Paper 2 (intermediate))
Primary General Studies: Money Management and the Smart Consumer (Paper 2 (intermediate))
This is the intermediate paper, focusing on budgeting and records, online shopping risks, unit price comparison, price rises, saving rates and interest.
Direct answers Convert prices to the same quantity before comparing and name the numerator and denominator before working out a rate.
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)
- FoundationWhy make a budget?
- FoundationWhat is the benefit of keeping a spending record?
- FoundationWhat risks should be watched when shopping online?
- IntermediateThree packs cost 45 dollars and five packs cost 65 dollars; what is the price per pack?
- IntermediateAn item priced 80 dollars rises by 10 per cent; what is the new price?
- IntermediateWith income of 5 000 dollars and spending of 3 800 dollars, what is the saving rate?
- ChallengeWith 1 200 dollars saved at two per cent a year, what is the total after one year?
- ChallengeWhat should a consumer do after buying something unsuitable?
- ChallengeTo reach a goal of 4 800 dollars at 320 dollars a month, how many months are needed?
- Error redoWhen finding a saving rate, should the denominator be income or spending?
03 Answers and one-line notes
| # | Answer | One-line note |
|---|---|---|
| 1 | To plan how income is shared out so spending does not exceed income. | A budget assigns money to different uses and any overspend must be adjusted. |
| 2 | It shows exactly where money goes and which spending can be cut. | Without records the leaks in a budget are hard to find. |
| 3 | Whether the site is trustworthy, whether payment comes before delivery and whether refunds are protected. | When goods differ or never arrive, keep the receipt and the chat records. |
| 4 | 15 dollars and 13 dollars. | 45 divided by 3 is 15 and 65 divided by 5 is 13, so the five pack is cheaper per pack. |
| 5 | 88 dollars. | A rise of one tenth means 80 times 1.1, which is 88. |
| 6 | Twenty-four per cent. | The surplus is 1 200 dollars and 1 200 over 5 000 is 0.24. |
| 7 | 1 224 dollars. | Interest is 1 200 times 0.02, that is 24, and adding the principal gives 1 224. |
| 8 | Return or exchange it quickly with the receipt kept as proof. | Returns have a time limit and the receipt is the proof of purchase, without which a refund is often refused. |
| 9 | Fifteen months. | 4 800 divided by 320 gives 15. |
| 10 | Income should be the denominator. | A saving rate is the saved amount as a share of income, so using spending gives a figure that is too large. |
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.