Check out how much you know about money and where it comes from in this quick quiz
1. What was some of the first money made from? a) paper b) banana leaves c) shells d) metal Correct!Wrong! Answer: c) shells. The Chinese used them in exchange for goods around 1200BC.
2. What was the name of money in the UK before 1971? a) punts, shillings and pence b) pounds, shillings and ounces c) pounds, shells and pence d) pounds, shillings and penceCorrect!Wrong! Answer: d) pounds, shillings and pence. Pound, (£) because it related to weight, shilling (s) from the Roman coin Solidus and pence (d) from another roman coin, the Denarius - equivalent to a day's pay.
3. Around the end of the Second World War, how many sticky currant buns could you have bought for £1? a) 12 b) 50 c) 125 d) 240Correct!Wrong! Answer: d) 240. They would cost about 1d (1 old penny) there were about 240 pennies in a pound.
4. If you get £3 a week pocket money, how long would it take to save up for a PS3 game that costs £25? a) about 7 weeks b) about 8 weeks c) about 9 weeks d) about 10 weeksCorrect!Wrong! Answer: c) about 9 weeks. It would take 8 whole weeks (=£24) and £1 from your ninth week pocket money.
5. Pirates of the Caribbean might have used 'pieces of eight'. How much would one of these be worth in today's money? a) 10p b) 20p c) 50p d) £1Correct!Wrong! Answer: c) 50p. A piece of eight was a Spanish coin, made of silver with the number 8 on it.
6. How many copies of the Beano could your Mum and dad buy for the same cost as running the family car for a day? a) 9 b) 13 c) 18 d) 22Correct!Wrong! Answer: b) 13. The Beano costs £1.20 and it costs around £15 a day to run a car.
7. If you want your money to grow, banks and building societies will pay you to save with them. What is this called? a) Interest b) Extras c) Add-ons d) CreditCorrect!Wrong! Answer: a) Interest. The amount of interest varies. If you saved £100 and they paid you 7% interest, at the end of one year you would have £107.
8. Notes and coins aren't the only way that we can buy things. Which one of these isn't a way to pay? a) credit card b) debit card c) standing order d) cash pointCorrect!Wrong! Answer: d) cash point. Cash points are used to get notes out of your bank account so that you can go shopping.
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