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According to 19th century sources, it was initially equivalent to 100 pence, but after the Norman Conquest (1066), it was worth 160 pence (13 shillings and 4 pence), two-thirds of a pound sterling. [4] [5] [6] In Scotland, the merk Scots was a silver coin, issued first in 1570 and afterwards in 1663.
To explain the process, consider one third of one quarter. Using the example of a cake, if three small slices of equal size make up a quarter, and four quarters make up a whole, twelve of these small, equal slices make up a whole. Therefore, a third of a quarter is a twelfth. Now consider the numerators.
Vulgar Fraction One Seventh 2150 8528 ⅑ 1 ⁄ 9: 0.111... Vulgar Fraction One Ninth 2151 8529 ⅒ 1 ⁄ 10: 0.1 Vulgar Fraction One Tenth 2152 8530 ⅓ 1 ⁄ 3: 0.333... Vulgar Fraction One Third 2153 8531 ⅔ 2 ⁄ 3: 0.666... Vulgar Fraction Two Thirds 2154 8532 ⅕ 1 ⁄ 5: 0.2 Vulgar Fraction One Fifth 2155 8533 ⅖ 2 ⁄ 5: 0.4 Vulgar ...
So too are the thousands, with the number of thousands followed by the word "thousand". The number one thousand may be written 1 000 or 1000 or 1,000; larger numbers are written for example 10 000 or 10,000 for ease of reading.
This system results in "two thirds" for 2 ⁄ 3 and "fifteen thirty-seconds" for 15 ⁄ 32. This system is normally used for denominators less than 100 and for many powers of 10 . Examples include "six ten-thousandths" for 6 ⁄ 10,000 and "three hundredths" for 0.03.
The misdirection in this riddle is in the second half of the description, where unrelated amounts are added together and the person to whom the riddle is posed assumes those amounts should add up to 30, and is then surprised when they do not — there is, in fact, no reason why the (10 − 1) × 3 + 2 = 29 sum should add up to 30.
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"Two bits" is a term in the United States and Canada for 25 cents, equivalent to a U.S. quarter. "Four bits" and "six bits" are also occasionally used, for example in the cheer "Two bits, four bits, six bits, a dollar." The final words may also be "get lost", "drop dead" (in Australia), [citation needed] or some other facetious expression.