How many pence make up a pound?

Okay, let's talk about British currency and why there are 100 pence in a pound. Before 1971, Britain had a really complicated system with pounds, shillings, and pence. There were 12 pence in a shilling and 20 shillings in a pound! Imagine trying to do mental arithmetic with that! In 1971, Britain decimalised its currency, meaning it switched to a base-10 system, making things much simpler. This brought the pound in line with most other modern currencies. So, the pound was divided into 100 smaller units, which we call pence. This made calculations and transactions far easier. Think of it like this: just as there are 100 centimetres in a metre, there are 100 pence in a pound. The other options are way off; 10 pence would be a tiny fraction of a pound, while 1,000 or 10,000 pence would be worth a small fortune!