I read with horror in various national newspapers that people just can’t do simple maths any more. Here’s a simple challenge to sort out the mathematical men (or women) from the boys (or girls):
Prize bonds cost €25 each.
€1000 worth of prize bonds has the odds of 3.6 to 1 of winning a prize in a year.
A prize is at least €75.
Interest in a current account is 3%.
What’s the probability of winning at least the equivalent of interest in a year with €10000 worth of prize bonds?