GCSE Maths
GCSE Maths Financial Maths: Budgets, Loans and VAT Exam Questions
Free GCSE Maths exam questions on Financial Maths: Budgets, Loans and VAT, with full model answers. Covers household budgets, borrowing, interest on loans and VAT.
Financial Maths: Budgets, Loans and VAT exam questions
1 question pack of real past exam questions with its mark scheme. Answer every question without notes, then mark your answers line by line against the mark scheme.
About GCSE Maths Financial Maths: Budgets, Loans and VAT
Financial Maths: Budgets, Loans and VAT is a Grade 3+ GCSE Maths topic, so it mostly comes up on Foundation tier papers. These questions suit WJEC GCSE. Work through the pack without notes, then mark every answer against the model answers and redo any you got wrong a few days later.
What you need to know
- Budgets Income minus expenses.
- Loans Total repayable versus amount borrowed.
- VAT Add 20% using a multiplier of 1.2.
Common mistakes in Financial Maths: Budgets, Loans and VAT
- Dividing by 1.2 when adding VAT.
- Ignoring interest.
Try two Financial Maths: Budgets, Loans and VAT exam-style questions
1. Add 20% VAT to £85. (1 mark)
Show the mark scheme answer
£102
2. A loan of £500 is repaid with 12 payments of £45. Find the interest. (2 marks)
Show the mark scheme answer
£40
Financial Maths: Budgets, Loans and VAT FAQs
Which exam boards include Financial Maths: Budgets, Loans and VAT?
These questions suit WJEC GCSE.
What grade is Financial Maths: Budgets, Loans and VAT in GCSE Maths?
It is a Grade 3+ topic, so it mostly appears on Foundation tier papers.
How should I use these Financial Maths: Budgets, Loans and VAT questions?
Answer every question without notes, then check each answer against the model answers and redo the ones you got wrong.
