The puzzle was to place your pencil on the A at the top of the amulet and count in how many different ways you could trace out the word "Abracadabra" downwards, always passing from a letter to an adjoining one.
"Now, mark ye, fine fellows," said Sir Hugh to some who had besought him to explain, "that at the very first start there be two ways open: whichever B ye select, there will be two several ways of proceeding (twice times two are four); whichever R ye select, there be two ways of going on (twice times four are eight); and so on until the end. Each letter in order from A downwards may so be reached in 2, 4, 8, 16, 32, etc., ways. Therefore, as there be ten lines or steps in all from A to the bottom, all ye need do is to multiply ten 2's together, and truly the result, 1024, is the answer thou dost seek."