Financial maths
15 free practice questions with explanations
PassNova has 15 free Numerical Reasoning Test practice questions on Financial maths, each with a clear explanation. Practise them in the browser with instant feedback — 100% free, no sign-up, on any device. Updated for 2026.
Financial maths: example questions & answers
15 worked examples with answers and explanations below. Practise them in the browser with instant feedback on every answer.
A contractor charges a £50 call-out fee plus £35 per hour. What is the total cost for a 4-hour job?
- A£200
- B£170
- C£185
- D£190✓
Answer: £50 + (£35 × 4) = £50 + £140 = £190.
A £1,000 deposit earns 4% simple interest per year. How much interest is earned after 3 years?
- A£120✓
- B£124.86
- C£80
- D£40
Answer: Simple interest = £1,000 × 0.04 × 3 = £120.
A product costs £40 to make and sells for £55. What is the profit margin as a percentage of the selling price?
- AAbout 30.0%
- BAbout 73.0%
- CAbout 27.3%✓
- DAbout 37.5%
Answer: Profit = £15; margin on selling price = 15 ÷ 55 = 0.2727 = about 27.3%.
VAT at 20% is added to a net price of £250. What is the gross (VAT-inclusive) price?
- A£312.50
- B£300✓
- C£270
- D£290
Answer: VAT = 20% of £250 = £50; gross = £250 + £50 = £300.
A gross price including 20% VAT is £360. What is the net price before VAT?
- A£340
- B£288
- C£312
- D£300✓
Answer: Net = gross ÷ 1.20 = £360 ÷ 1.20 = £300.
£2,000 is invested at 5% annual compound interest. What is the value after 2 years?
- A£2,100
- B£2,210
- C£2,200
- D£2,205✓
Answer: £2,000 × 1.05^2 = £2,000 × 1.1025 = £2,205.
An item bought for £80 is sold for £100. What is the percentage profit on the cost price?
- A30%
- B20%
- C22%
- D25%✓
Answer: Profit = £20; on cost price £80, 20 ÷ 80 = 0.25 = 25%.
A salesperson earns a basic £1,500 per month plus 6% commission on sales. In a month with £40,000 of sales, what is the total pay?
- A£4,100
- B£3,900✓
- C£3,600
- D£4,400
Answer: Commission = 6% of £40,000 = £2,400; total = £1,500 + £2,400 = £3,900.
A loan of £5,000 is repaid in 10 equal monthly instalments, with a total of £600 interest added. What is each monthly payment?
- A£540
- B£600
- C£500
- D£560✓
Answer: Total repayable = £5,600; £5,600 ÷ 10 = £560 per month.
A retailer buys goods at £18 each and marks them up by 35%. What is the selling price (to the nearest penny)?
- A£25.20
- B£24.30✓
- C£23.40
- D£24.50
Answer: £18 × 1.35 = £24.30.
An asset worth £12,000 depreciates by 15% each year. What is its value after 2 years (to the nearest pound)?
- A£8,820
- B£8,670✓
- C£9,000
- D£8,400
Answer: £12,000 × 0.85^2 = £12,000 × 0.7225 = £8,670.
A business has fixed costs of £4,500 per month and each unit costs £12 to make and sells for £30. How many units must be sold each month to break even?
- A150
- B200
- C250✓
- D300
Answer: Contribution per unit = £30 - £12 = £18; break-even = £4,500 ÷ £18 = 250 units.
A sum earns £315 in simple interest over 3 years at 3.5% per year. What was the original principal?
- A£3,000✓
- B£3,500
- C£2,800
- D£3,150
Answer: Interest per year = £315 ÷ 3 = £105 = 3.5% of principal; principal = £105 ÷ 0.035 = £3,000.
A phone bill is £45 including 20% VAT. How much of the bill is VAT (to the nearest penny)?
- A£7.85
- B£9.50
- C£9.00
- D£7.50✓
Answer: Net = £45 ÷ 1.20 = £37.50; VAT = £45 - £37.50 = £7.50.
A shop sells a TV for £540 after applying a 10% loyalty discount to the marked price. What was the marked price?
- A£594
- B£580
- C£610
- D£600✓
Answer: £540 is 90% of the marked price; marked = £540 ÷ 0.90 = £600.