How to Take This Test
You have 15 minutes for 25 questions. That is the pace of the real Tier 1 Maths section, about 36 seconds a question, so you will need the quick methods (the multiplier form , the MP : CP ratio for markup and discount, for two discounts, and error ÷ (true − error) for false weights) as well as the full working. Discount, false-weight and two-item questions come in no fixed order.
- Use a timer and finish in one go, without pausing and without your notes.
- A right answer gets +2 and a wrong one −0.50. A skipped question scores 0.
- Leave a long question for the end and come back to it if time allows. Getting stuck on one long chain of sales or a two-price CP question can cost you three quick ones.
- Don't open any explanation until the 15 minutes are up.
Your score. Take 2 for each right answer and subtract 0.5 for each wrong one; the total is out of 50. So 19 right, 4 wrong and 2 skipped scores 38 − 2 = 36.
| Your score (out of 50) | What to do next |
|---|---|
| 40 or more | You can do profit and discount at exam speed. Try a PYQ Practice Set now and then so the multipliers stay quick. |
| 30 to 39.5 | The methods are right, but slips are costing marks. For each wrong or skipped question, check which price the % was on (the SP used in place of the CP, or the CP in place of the MP), reread the start of that topic section and redo its quiz. |
| 20 to 29.5 | You know the steps but they are slow. Practise the multiplier, the MP : CP ratio and the false-weight rule in Shortcuts & Speed Methods, do Practice Sets 1 and 2, and take this test again after a few days. |
| Below 20 | Go back to the four topic sections, Profit and Loss Basics, Profit and Loss: Articles, Two Items and Changing Prices, Marked Price and Discount and Dishonest Dealers and Successive Transactions, before you try more timed tests. |
The tag on each question tells you where to look: profit and loss %, CP from two selling prices and overheads are in Profit and Loss Basics; articles bought and sold, two items at the same price, parts sold at different rates and CP or SP changed are in Profit and Loss: Articles, Two Items and Changing Prices; markup and discount, the marked price for a target profit, successive discounts, buy x get y free and GST after discount are in Marked Price and Discount; and false weights, false weight with profit, successive transactions and wastage are in Dishonest Dealers and Successive Transactions.
If more than 3 of your answers were wrong, slow down a little next time. On guessing: a wrong answer costs only 0.50, so in Tier 1 even a blind guess is very slightly in your favour on average (+0.125 marks), and once you can rule out one option a guess is clearly worth taking. Chapter 0 works out the numbers.