Primary General Studies: Money Management And The Smart Consumer (Paper 3 (challenge))

Primary General Studies: Money Management and the Smart Consumer (Paper 3 (challenge))

2026-11-14

Tutor Prep Guide · Income and spending, saving goals, unit price and discounts

Primary General Studies: Money Management and the Smart Consumer (Paper 3 (challenge))

This is the challenge paper, focusing on credit cards and advertising, instalment fees, successive discounts, purchasing power under inflation and unit price comparison.

Direct answers　Multiply discounts rather than adding them and write the rate and its base clearly so the answer stays sensible.

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 cost of paying later with a credit card?
FoundationWhy keep the receipt after shopping?
FoundationWhat does a limited time offer aim to do?
Intermediate3 600 dollars over 12 instalments with a five per cent fee: what is each payment?
IntermediateA 500 dollar item is discounted by ten per cent and then 20 per cent; what is the final price?
IntermediateWhy are two successive discounts not the sum of both?
ChallengeWith three per cent inflation, what is 100 dollars worth in a year?
ChallengeWhich is cheaper per 100 g: 300 g for 18 dollars or 500 g for 25 dollars?
ChallengeTo save 4 800 dollars at 320 dollars a month, how many months if 640 dollars is spent on the way?
Error redoDoes 10 per cent off then 20 per cent off equal 30 per cent off?

03　Answers and one-line notes

#	Answer	One-line note
1	Interest is charged when the balance is not cleared in time, so debt builds up easily.	A credit card spends future money and the overdue interest is far above any saving interest.
2	It proves the purchase and supports returns, repairs or complaints.	Without a receipt a shop may refuse a return and a complaint is hard to prove.
3	It creates time pressure so people buy before thinking clearly.	A calm comparison often shows the discount is small or the listed price was raised first.
4	315 dollars.	The fee is 180 dollars so the total is 3 780 and dividing by 12 gives 315.
5	360 dollars.	Ten per cent off leaves 450 and a further 20 per cent off gives 360, which is 0.72 of the original.
6	The second discount applies to the already reduced price, a smaller base.	Ten per cent then 20 per cent off means 0.9 times 0.8, which is 0.72, not 0.70.
7	About 97.09 dollars.	Purchasing power is 100 divided by 1.03 because rising prices buy less with the same money.
8	The 500 g pack, at 5 dollars against 6 dollars per 100 g.	18 divided by 3 is 6 and 25 divided by 5 is 5, so the larger pack is cheaper.
9	Seventeen months.	The extra 640 dollars is two months of saving, so 15 months becomes 17.
10	No, it equals 28 per cent off, that is 0.72 of the price.	Successive discounts multiply, and 0.9 times 0.8 is 0.72, which costs more than 30 per cent off.

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.