Household finance test questions

1

Grace receives a gas bill. The details are as follows:

A table showing a gas bill with meter readings, charge per unit, and service charge

What is the total cost of the gas?

2

Geraint has a new flat. Can you find the total cost of the electricity bill?

A table showing an electricity bill with meter readings, charge per unit, service charge and VAT

3

Tina has a new flat. Here’s her electricity bill:

A table showing an electricity bill with meter readings, charge per unit, service charge and VAT

Tina decides to pay for her bill via direct debit. If you pay by direct debit there is a £30 discount. She pays £25 for three months. How much is her bill now?

4

How much does Jayne have to pay for her electricity for this quarter, excluding VAT?

A table showing the meter readings at the beginning and end of the quarterA table showing the unit cost of water and electricity

5

Two friends want to buy a house together. One earns £12,000 and the other earns £18,000. They have a deposit of £10,000.

Two person affordability = 2.5 × (larger salary) + 1 × (smaller salary)

Could they afford a £90,000 house which requires a 10% deposit?

6

Greg wants to buy his first house. He earns £56,000 and has a £40,000 deposit. He is looking at a flat worth £160,000.

Single person affordability = (salary) × 2.5

Can Greg get a mortgage with a 15% deposit?

7

Freya needs a mortgage of £100,000 but she can’t decide whether to take it for 20 years or 30. How much will she save if she takes out a mortgage for 20 years instead of 30?

A table showing how monthly payments vary depending on the length of the mortgage

8

The following information relates to Q8-Q10.

Ollie has a job that pays £2,400 a month. Here are his monthly outgoings for the month:

A table showing monthly income and outgoings

What is Ollie’s total spending?

9

What’s Ollie’s disposable income?

10

What percentage of Ollie’s salary is expendable income?