Unformatted text preview: Money
General www.mathsrevision.com Revision of Percentages Profit and Loss Hire Purchase Building & Contents Insurance Life Insurance Foreign Exchange Percentage Profit
13 Feb 2012 Created by Mr. Lafferty Maths Dept. Starter Questions
1.
www.mathsrevision.com Calculat e 1200 Simplif y 300 2. 3. 4.
13 Feb 2012 75 200 Find 10% of 65 Find 2 numbers t hat mult iply t o give 21 and add t o give 10.
Compiled by Mr. Lafferty Maths Dept. Percentages (Revised)
General Learning Intention Success Criteria 1. To know the basic percentages. www.mathsrevision.com 1. To revise some basic percentages. 2. Calculate basic percentage without a calculator. 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Percentages (Revised)
General Remember from previous section you know learn these ! www.mathsrevision.com 10 0 % 50%
1 2 1 33 % 3 2 66 % 20% 3 40% 60% 80% 2 5 1 1 3 2 3 1 5 3 5 7 10 4 5 90% 9 10 10 % 3 0 % 7 0 % 1 10
13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. 3 10 Percentages (Revised)
General Q. Find 30% of 40 www.mathsrevision.com 3 4 0 10 4 0 10 x 3 = 12 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Percentages (Revised)
General Q. Find 75% of 600 www.mathsrevision.com 3 6 0 0 4 6 0 0 4 x 3 = 4 5 0 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Percentages (Revised)
General www.mathsrevision.com Now try Exercise 1 Ch15 (page 180) 13 Feb 2012 Compiled by Mr. Lafferty Maths Dept. Starter Questions
General Q1. 0.5 + 5 x 8 www.mathsrevision.com Q2. Multiply out the brackets and simplify 2 6 (x 3 ) Q3. Find g wh e n 7 g = 3 2 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Profit and Loss
General Learning Intention Success Criteria 1. To know the meaning of the terms PROFIT and LOSS. 2. Apply knowledge to calculations. www.mathsrevision.com 1. To understand the terms profit and loss. 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Profit and Loss
General www.mathsrevision.com Profit : When you sell something for MORE than you bought it. PROFIT = Selling Price Buying Price Loss : When you sell something for LESS than you bought it. LOSS = Buying Price Selling Price
13 Feb 2012 Created by Mr. Lafferty Maths Dept. Profit and Loss
General Example 1 If I buy a Playstation for 100 and sell it for 120. www.mathsrevision.com I have made a PROFIT of 120100 = 20 Example 2 I bought a bunch of flowers for 5.50 and tried to sell them for a profit. But I found it difficult to sell them. I sold them for 4.00 before they went off. I made a LOSS of
13 Feb 2012 5.50 4.00 = 1.50
Created by Mr. Lafferty Maths Dept. Profit and Loss
General www.mathsrevision.com Now try Ex 2 Ch15 (page 182) 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Hire Purchase
General Learning Intention Success Criteria 1. To know the meaning of the terms HIRE PURCHASE. 2. Apply knowledge to calculations. www.mathsrevision.com 1. To understand the terms Hire Purchase. 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Starter Questions
General Q1. Expand out 2j (k 5g + 4jk)
www.mathsrevision.com Q2. Find all the missing angles 25o Q3. Find m wh e n 5 5 = 13 14 m
13 Feb 2012 Created by Mr. Lafferty Maths Dept. Hire Purchase
General www.mathsrevision.com Hire Purchase : When you pay for goods by putting down a deposit and then paying the rest up in small fixed payments over a period of time. Normally you pay more for the goods using this method. 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Hire Purchase
General Buying Products www.mathsrevision.com Hoover Cash Price 365.50 or by H.P. 75 deposit + 12 Payment 28.80 How much more do you pay by using Hire Purchase Total H.P. price = 75 + 12 x 28.80 = 420.60 Difference in price = 13 Feb 2012 420.60 365.50 = 55.10 Created by Mr. Lafferty Maths Dept. Loans & Hire Purchase
General Buying Products www.mathsrevision.com Washing Machine Cash Price 365.50 or by H.P. 75 deposit + 12 Payment 28.80 How much more do you pay by using Hire Purchase Total H.P. price = Difference in price = 13 Feb 2012 75 + 12 x 28.80 = 420.60 420.60 365.50 = 55.10 Created by Mr. Lafferty Maths Dept. Hire Purchase
General www.mathsrevision.com Now try Ex 3 Ch15 (page 185) 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Starter Questions
General Q1. Expand out 2a (a c + 4ab)
www.mathsrevision.com Q2. Find the missing angle Q3. Find g wh e n 7 + 8 g = 2 3 13 Feb 2012 Created by Mr. Lafferty Maths Dept. 22o House & Contents Insurance
General Learning Intention Success Criteria 1. Why we have house building insurance. 2. Calculate the value of building and content insurance given the value of the house and contents. www.mathsrevision.com 1. To explain the how to calculate building and contents insurance for a house. 13 Feb 2012 Created by Mr. Lafferty Maths Dept House & Contents Insurance
General Roof, walls, floor etc... www.mathsrevision.com You NEED to buy building insurance in case anything goes wrong with your house. TV, DVD, Washing Machine It is a good idea to buy content insurance in case your house gets broken into or items breakdown.
13 Feb 2012 Created by Mr. Lafferty Maths Dept House & Contents Insurance
General www.mathsrevision.com Items
Building per 1000 Contents per 1000 Charge
0.73 3.57 13 Feb 2012 Created by Mr.Lafferty Maths Dept House & Contents Insurance
General Example 1 : How much is the House Insurance for a house valued at 40 000. www.mathsrevision.com Value 1 000 40 000
13 Feb 2012 (cost of Insurance) Premium 0.73 40 000 0. 73 = 1 000
Created by Mr. Lafferty Maths Dept 29.20 House & Contents Insurance
General Example 2 : www.mathsrevision.com Value 1 000 I decided to increase my insurance from 40 000 to 50 000 cover. How much more did it have to pay. Premium (cost of Insurance) 0.73 10 000
13 Feb 2012 10 000 0.73 = 1 000
Created by Mr. Lafferty Maths Dept 7.30 more House & Contents Insurance
General www.mathsrevision.com Example : How much for Buildings insurance and contents insurance if a house is valued at 80 000 and contents are valued at 5 000. Buildings insurance : Contents insurance : 8 0 0 0 0 0 .7 3 = 1 0 0 0 58.40 17.85 5 0 0 0 3 .5 7 = 1 0 0 0 Total : 76.25
13 Feb 2012 Created by Mr. Lafferty Maths Dept Household Insurance
General www.mathsrevision.com Now try Ex 4 Ch15 (page 188) 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Starter Questions
General 1. Calc ulat e 10 0 x 4 .5 www.mathsrevision.com 2 . Ex pand 5 (4 a + 7 ) 9 a 3 . W r it e d o wn f ac t o r s t h at af f e c t lif e ins ur anc e . 13 Feb 2012 Created by Mr. Lafferty Maths Dept Life Insurance
General Learning Intention Success Criteria 1. Read information from a chart. 2. Calculate Life Insurance taking in various factors. www.mathsrevision.com 1. To calculate Life Insurance from a table of values taking account various factors. 13 Feb 2012 Created by Mr.Lafferty Maths Dept General Age, Male or Female, smoker or Non smoker Life Insurance What factors Table shows monthly premiums. The sum assured is 10000 (with Profits) for the term 20 years. affect the cost of Life Insurance www.mathsrevision.com Age
20 25 30 Male smoker
1.25 1.36 1.48 Female smoker
1.02 1.11 1.20 Male nonsmoker
0.77 0.86 0.96 Female nonsmoker
0.57 0.66 0.75 13 Feb 2012 Created by Mr.Lafferty Maths Dept Life Insurance
General Table shows monthly premiums. The sum assured is 10000 (with Profits) for the term 20 years. www.mathsrevision.com Age 20 25 30 Male smoker 1.25 1.36 1.48 Female smoker 1.02 1.11 1.20 Male nonsmoker 0.77 0.86 0.96 Female nonsmoker 0.57 0.66 0.75 Kerry is 25 years old and takes out a fixed term policy. She does not smoke. She wants to leave 150 000 to her dependants should she died. What is her monthly premium and how much will she pay over 20 years.
13 Feb 2012 Created by Mr.Lafferty Maths Dept Life Insurance
General www.mathsrevision.com Monthly premium = 150000 10000 x 0.66 = 9.90 Total paid over 20 years = 9.90 x 12 x 20 = 2376 13 Feb 2012 Created by Mr.Lafferty Maths Dept Life Insurance
General www.mathsrevision.com Now try Exercise 5 Ch15 (page 191) 13 Feb 2012 Created by Mr.Lafferty Maths Dept Starter Questions
General Q1. Expand out 2a (a c + 4ab) www.mathsrevision.com Q2. Find two missing angles 32o Q3. Find y 2 0 y =10 0 Q4. The answer is 45. What is the question. 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Foreign Exchange
General Learning Intention Success Criteria 1. Be able to convert 's to another currency. 2. Be able to convert back to 's. www.mathsrevision.com 1. To explain how to convert 's to another currency and vice versa. 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Currency Exchange
General Converting to a foreign currency www.mathsrevision.com x exchange rate Converting back to 's Foreign currency exchange rate Created by Mr. Lafferty Maths Dept Foreign currency Foreign Exchange
General www.mathsrevision.com Think going on holiday ! The currency in most of Europe is the euro The exchange rate is approximately 1 1.54 Converting 's to Euros simply multiply (a)
13 Feb 2012 To change 80 to euros
Created by Mr. Lafferty Maths Dept. 80 x 1.54 = 123.20 Foreign Exchange
General www.mathsrevision.com Now try Ex 6 Q1 to Q5 Ch15 (page 193) 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Foreign Exchange
General www.mathsrevision.com Think back from holiday ! Coming back from holiday we want to do the opposite i.e. euros to 's The exchange rate is approximately 1 1.54 Converting Euros 's to 's simply divide To change 616 to 's
13 Feb 2012 Created by Mr. Lafferty Maths Dept. 616 1.54 = 400 Foreign Exchange
General www.mathsrevision.com Now try Ex 6 Q6 to Q12 Ch15 (page 194) 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Starter Questions
General Q 1. W r it e d o wn t h e m ain s t e ps invo lve d www.mathsrevision.com wh e n s o lving a pr o b le m invo lving Py t h ag o r as . Q 2 . Find 3 0 % o f 4 0 0 . Q 3 . Find t h e ar e a o f t h e s h ape .
13 Feb 2012 Created by Mr. Lafferty Maths Dept. 10cm 8cm Calculating Percentages
General Percentage Increase / Decrease
Learning Intention Success Criteria 1. To understand how to calculate percentage increase / decrease. 2. Solve problems in context. www.mathsrevision.com 1. To understand how to calculate percentage increase / decrease. 13 Feb 2012 Created by Mr. Lafferty Maths Dept. Calculating Percentages
General Percentage Increase / Decrease Example 1 : Daniel was paid 20 per week. He got a rise to 22 per week. What was his percentage increase in pay ? Actual Increase = 22 20 = 2 wage www.mathsrevision.com inc r e as e 2 = 10 0 % increase = o r ig inal pay 2 0
13 Feb 2012 Created by Mr. Lafferty Maths Dept. = 10 % Calculating Percentages
General Percentage Increase / Decrease Example 1 www.mathsrevision.com A shopkeeper buys crisps for 20p each. He sells them for 28p. What is his percentage profit? Actual Increase = 28p 20p = 8p inc r e as e 8 = 10 0 % increase = o r ig inal pay 2 0
13 Feb 2012 Created by Mr. Lafferty Maths Dept. = 40% Percentage Profit
General www.mathsrevision.com Now try Extension Booklet 2E (page 79) 13 Feb 2012 Created by Mr. Lafferty Maths Dept. ...
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