S3_General_Chapter8_Money

S3_General_Chapter8_Money - Money General...

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Unformatted text preview: Money General www.mathsrevision.com Simple Interest Simple Bills & VAT Electricity Bills 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Starter Questions General 1. www.mathsrevision.com Find t he area and perimet er of a square wit h lengt h 3 cm. 4. 56 + 2. 36 - 1. 2 Find an equivalent f ract ion 2. 3. 1 wit h denominat or 100 f or . 20 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Simple Interest General Learning Intention Success Criteria 1. To understand the term simple interest. 2. Calculate simply interest. www.mathsrevision.com 1. To explain what the term simple interest means and how to calculate it. 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. General What type of accounts can you get? Money Premium Bonds St Ninian's Savings Bank Why put your Are there other money in a places to put your bank? money? Building Society www.mathsrevision.com Interest p.a. (per annum) Supersaver account 13 Feb 2012 Savings account Compiled by Mr. Lafferty Maths Dept. Current account High Interest account Simple Interest General Just working out percentages Simple Interest www.mathsrevision.com I have 400 in the Bank. At the end of each year I receive 7% of 400 in interest. How much interest do I receive after 1 years? How much do I now have? I nt erest p. a. = 7 100 400 = 28 Tot al in Bank = 400 + 28 = 428 Monday, February 13, 2012 created by Mr. Lafferty @ www.mathsrevision.com Simple Interest General Just working out percentages Simple Interest www.mathsrevision.com I have 1200 in the Bank. I receive 10% p.a. in interest. How much interest do I receive if I take my money out after 3 months. I nt erest p. a. = 10 100 1200 = 120 Af t er 1 mont h int erest is 120 12 = 10. Af t er 3 mont hs int erest is = 10 Monday, February 13, 2012 created by Mr. Lafferty @ www.mathsrevision.com 3 = 30 Simple Interest General Just working out percentages Simple Interest www.mathsrevision.com Stuart invested 4000 in the building Society with an interest rate of 5% p.a. How much does he have after 5 years? I nt erest p. a. = 5 100 4000 = 200 5 = 1000. Af t er 5 years int erest is 200 Tot al in Building Societ y = 4000 + 1000 = 5000 Monday, February 13, 2012 created by Mr. Lafferty @ www.mathsrevision.com Simple Interest General www.mathsrevision.com Now try Ex 1 Ch8 (page 91) 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Starter Questions General 1. Calculat e 1200 Simplif y 300 www.mathsrevision.com 2. 75 200 3. 4. 13 Feb 2012 1 Find of 65 10 Find highest number t hat divides bot h 14 and 35 wit hout leaving a remainder. Compiled by Mr. Lafferty Maths Dept. Simple Bills & VAT General Learning Intention Success Criteria 1. Understand the term VAT. www.mathsrevision.com 1. To explain how to calculate simple bills that include VAT. 2. Calculate simple bills that include VAT. 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Simple Bills & VAT General VAT means : Value added Tax To pay for NHS, bin collection, School education etc...... www.mathsrevision.com www.mathsrevision.com Why do we pay it ? What is the current percentage rate of VAT Going up to 20% Created by Mr. Lafferty Maths Dept 17.5% Money Problems General www.mathsrevision.com 13 Feb 2012 Created by Mr.Lafferty Maths Dept Money Problems General www.mathsrevision.com 0 72 1 44 31 20 5 13 Feb 2012 Created by Mr.Lafferty Maths Dept 36 Money Problems General www.mathsrevision.com 1 0 01 2 13 Feb 2012 Created by Mr.Lafferty Maths Dept 44 45 76 1 65 = 17.5 100 x 132 = 23.45 General Money Problems Copy and complete the garage bill. Example : www.mathsrevision.com A tax added by Government 78 50 1 53 1 50 1 13 2 0 0 23 10 15 5 1 0 13 Feb 2012 Created by Mr.Lafferty Maths Dept = 17.5 100 x 61.70 = 10.80 ( to nearest pence) General Money Problems Copy and complete the garage bill. Example : www.mathsrevision.com A tax added by Government 35 95 25 1 75 1 1 61 7 0 101 80 72 50 13 Feb 2012 Created by Mr.Lafferty Maths Dept Simple Bills & VAT General www.mathsrevision.com Now try Ex2 Ch8 (page 94) 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Starter Questions General 1. www.mathsrevision.com Calculat e 45. 6 x 7 2. 3. 4. 13 Feb 2012 15 W rit e t he f ract ion as a percent age 100 Find 20% of 700 4 j ars of sweet s cost 2. 40. How much f or 3 j ars. Compiled by Mr. Lafferty Maths Dept. Electricity Bills General Learning Intention Success Criteria 1. Understand how a electricity bill is created. 2. Be able to calculate simple electricity bills. www.mathsrevision.com 1. To explain how an electricity bill is created. 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. = 8 100 x 39.15 Electricity (to nearest pence) = 3.13 Bills General www.mathsrevision.com 3567 3277 290 13.5 39 15 1 3 13 4 2 28 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. = 8 100 x 112.52 Electricity (to nearest pence) = 9.00 Bills General www.mathsrevision.com 08219 07421 798 14.2 112 52 1 9 00 121 5 2 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Electricity Bills General www.mathsrevision.com Now try Exercise 3 Ch8 (page 96) 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. ...
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