<P> Under this system , there were 12 pence in a shilling and 20 shillings , or 240 pence , in a pound . The penny was subdivided into 4 farthings until 31 December 1960 , when they ceased to be legal tender in the UK , and until 31 July 1969 there were also halfpennies ( `` ha'pennies '' ) in circulation . The advantage of such a system was its use in mental arithmetic , as it afforded many factors and hence fractions of a pound such as tenths , eighths , sixths and even sevenths and ninths if the guinea ( worth 21 shillings ) was used . When dealing with items in dozens , multiplication and division are straightforward ; for example , if a dozen eggs cost four shillings , then each egg was priced at fourpence . </P>
<P> Under this system , there were 12 pence in a shilling and 20 shillings , or 240 pence , in a pound . The penny was subdivided into 4 farthings until 31 December 1960 , when they ceased to be legal tender in the UK , and until 31 July 1969 there were also halfpennies ( `` ha'pennies '' ) in circulation . The advantage of such a system was its use in mental arithmetic , as it afforded many factors and hence fractions of a pound such as tenths , eighths , sixths and even sevenths and ninths if the guinea ( worth 21 shillings ) was used . When dealing with items in dozens , multiplication and division are straightforward ; for example , if a dozen eggs cost four shillings , then each egg was priced at fourpence . </P>
how many british shillings are in a pound
how many british shillings are in a pound
20
20