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National 4

NUM 1.2

Money

Revision of Percentages

Profit and Loss

Hire Purchase

Building & Contents Insurance

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Life Insurance

Foreign Exchange

Percentage Profit

Created by Mr. Lafferty Maths Dept.

National 4

NUM 1.2

Starter Questions

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Compiled by Mr. Lafferty Maths Dept.

Percentages (Revised)

National 4

NUM 1.2

Learning Intention

Success Criteria

- To know the basic percentages.

1.To revise some basic percentages.

- Calculate basic percentage without a calculator.

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Percentages (Revised)

National 4

NUM 1.2

Remember from previous section you know learn these !

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Percentages (Revised)

National 4

NUM 1.2

Q. Find 30% of £40

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Percentages (Revised)

National 4

NUM 1.2

Q. Find 75% of £600

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Percentages (Revised)

National 4

NUM 1.2

Now try Exercise 1

Ch15 (page 180)

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National 4

NUM 1.2

Q1. 0.5 + 5 x 8

Starter Questions

Q2. Multiply out the brackets and simplify

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Q3.

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Profit and Loss

National 4

NUM 1.2

Learning Intention

Success Criteria

- To know the meaning of the terms PROFIT and LOSS.

- To understand the
- terms profit and loss.

- Apply knowledge to calculations.

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National 4

NUM 1.2

Profit and Loss

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.

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LOSS = Buying Price – Selling Price

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National 4

NUM 1.2

Example 1

If I buy a Playstation for £100 and sell it for £120.

Profit and Loss

I have made a PROFIT of

£120-£100 = £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.

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I made a LOSS of

£5.50 - £4.00 = £1.50

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Profit and Loss

National 4

NUM 1.2

Now try Ex 2

Ch15 (page 182)

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Hire Purchase

National 4

NUM 1.2

Learning Intention

Success Criteria

- To know the meaning of the terms HIRE PURCHASE.

- To understand the
- terms Hire Purchase.

- Apply knowledge to calculations.

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National 4

NUM 1.2

Starter Questions

Q1. Expand out 2j (k – 5g + 4jk)

Q2. Find all the missing angles

25o

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Q3.

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Hire Purchase

National 4

NUM 1.2

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.

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Normally you pay more for the goods using this method.

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Hire Purchase

National 4

NUM 1.2

Buying Products

Hoover Cash Price £120

or

by H.P. £30 deposit + 12 Payment £8.50

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How much more do you pay by using Hire Purchase

Total H.P. price =

£30 + 12 x £8.50 = £132

Difference in price =

£132 - £120 = £12

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Loans & Hire Purchase

National 4

NUM 1.2

Buying Products

Washing Machine Cash Price £365.50

or

by H.P. £75 deposit + 12 Payment £28.80

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How much more do you pay by using Hire Purchase

Total H.P. price =

+ 12 x £28.80 = £420.60

£75

Difference in price =

£420.60 - £365.50 = £55.10

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Hire Purchase

National 4

NUM 1.2

Now try Ex 3

Ch15 (page 185)

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National 4

NUM 1.2

Q1. Expand out 2a (a – c + 4ab)

Starter Questions

Q2. Find the missing angle

22o

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Q3.

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House & Contents Insurance

National 4

NUM 1.2

Learning Intention

Success Criteria

- To explain the how to calculate building and contents insurance for a house.

- Why we have house building insurance.

- 2.Calculate the value of building and content insurance given the value of the house and contents.

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Maths Dept

House & Contents Insurance

Roof, walls, floor etc...

National 4

NUM 1.2

You NEED to buy building insurance in case anything

goes wrong with your house.

TV, DVD, Washing Machine

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It is a good idea to buy content insurance in case your

house gets broken into or items breakdown.

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Maths Dept

House & Contents Insurance

National 4

NUM 1.2

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House & Contents Insurance

National 4

NUM 1.2

Example 1 :How much is the House Insurance for a

housevalued at £40 000.

Premium

(cost of Insurance)

Value

£0.73

£1 000

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£40 000

£29.20

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Maths Dept

House & Contents Insurance

National 4

NUM 1.2

Example 2 :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)

Value

£0.73

£1 000

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£7.30 more

£10 000

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Maths Dept

House & Contents Insurance

National 4

NUM 1.2

Example : How much for Buildings insurance and

contents insurance if a house is valued at £80 000 and contents are valued at £5 000.

£58.40

Buildings insurance :

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£ 17.85

Contents insurance :

Total : £76.25

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Maths Dept

Household Insurance

National 4

NUM 1.2

Now try Ex 4

Ch15 (page 188)

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Starter Questions

National 4

NUM 1.2

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Life Insurance

National 4

NUM 1.2

Learning Intention

Success Criteria

- To calculate Life Insurance from a table of values taking account various factors.

- 1.Read information from a chart.

- 2.Calculate Life Insurance taking in various factors.

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What factors affect the cost of Life Insurance

Age,

Male or Female, smoker

or Non- smoker

Life Insurance

National 4

NUM 1.2

Table shows monthly premiums.

The sum assured is £10000 (with Profits) for the term 20 years.

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Life Insurance

National 4

NUM 1.2

Table shows monthly premiums.

The sum assured is £10000 (with Profits) for the term 20 years.

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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 die. What is her monthly premium and how much will she pay over 20 years.

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Life Insurance

National 4

NUM 1.2

Monthly premium = 150000 ÷ 10000 x 0.66 = £9.90

Total paid over 20 years = £9.90 x 12 x 20 = £2376

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Life Insurance

National 4

NUM 1.2

Now try Exercise 5

Ch15 (page 191)

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National 4

NUM 1.2

Q1. Expand out 2a (a – c + 4ab)

Starter Questions

Q2. Find two missing angles

32o

Q3. Find y

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Q4. The answer is 45. What is the question.

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Foreign Exchange

National 4

NUM 1.2

Learning Intention

Success Criteria

1.Be able to convert £’s to another currency.

- To explain how to convert £’s to another currency and vice versa.

- Be able to convert back to £’s.

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Converting to a foreign currency

Currency Exchange

£

Foreign currency

x exchange rate

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Converting back to £’s

£

Foreign currency

÷ exchange rate

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Maths Dept

Foreign Exchange

National 4

NUM 1.2

Think going on holiday !

The currency in most of Europe is the euro €

The exchange rate is approximately

£ 1 1.54 €

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Converting £’s to Euros € simply multiply

(a)To change £80 to euros

80 x 1.54 =

123.20 €

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Foreign Exchange

National 4

NUM 1.2

Now try Ex 6 Q1 to Q5

Ch15 (page 193)

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Foreign Exchange

National 4

NUM 1.2

Coming back from holiday we want to do the opposite

i.e. euros to £’s

Think

back from holiday !

The exchange rate is approximately

£ 1 1.54 €

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Converting Euros €’s to £’s simply divide

To change 616 € to £’s

616 ÷ 1.54 =

£400

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Foreign Exchange

National 4

NUM 1.2

Now try Ex 6 Q6 to Q12

Ch15 (page 194)

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National 4

NUM 1.2

Starter Questions

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10cm

8cm

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Calculating Percentages

Percentage Increase / Decrease

National 4

NUM 1.2

Learning Intention

Success Criteria

- To understand how to calculate percentage increase / decrease.

- To understand how to calculatepercentage increase / decrease.

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- Solve problems in context.

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Calculating Percentages

Percentage Increase / Decrease

National 4

NUM 1.2

Example 1 : Daniel was paid £20 per week. He got a wage rise to £22 per week.

What was his percentage increase in pay ?

Actual Increase = £22 - £20 = £2

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% increase =

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Calculating Percentages

Percentage Increase / Decrease

National 4

NUM 1.2

Example 1

A shopkeeper buys crisps for 20p each.

He sells them for 28p.

What is his percentage profit?

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Actual Increase = 28p – 20p = 8p

% increase =

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Percentage Profit

National 4

NUM 1.2

Now try

Extension Booklet

2E (page 79)

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