Summary:
There are two methods to solve this problem, both are correct IMHO.
A) New pound = Old pound
8 pence = 8/12 Shilling = 8/12 * 1/20 Pound = 8/240 Pound
2 shillings = 2/20 Pound
...
Type: Posts; User: Sang-drax
Summary:
There are two methods to solve this problem, both are correct IMHO.
A) New pound = Old pound
8 pence = 8/12 Shilling = 8/12 * 1/20 Pound = 8/240 Pound
2 shillings = 2/20 Pound
...
As has been shown, the answer depends on whether
1 new pound = 1 old pound or
1 new pence = 1 new pence
Both answers are correct, but I'd probably assume that the pound was unchanged, because...