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Money

National 4 NUM 1.2. Money. Revision of Percentages. Profit and Loss. Hire Purchase. Building & Contents Insurance. www.mathsrevision.com. Life Insurance. Foreign Exchange. Percentage Profit. National 4 NUM 1.2. Starter Questions. www.mathsrevision.com. Percentages (Revised).

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Money

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  1. National 4 NUM 1.2 Money Revision of Percentages Profit and Loss Hire Purchase Building & Contents Insurance www.mathsrevision.com Life Insurance Foreign Exchange Percentage Profit Created by Mr. Lafferty Maths Dept.

  2. National 4 NUM 1.2 Starter Questions www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  3. 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. www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  4. Percentages (Revised) National 4 NUM 1.2 Remember from previous section you know learn these ! www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  5. Percentages (Revised) National 4 NUM 1.2 Q. Find 30% of £40 www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  6. Percentages (Revised) National 4 NUM 1.2 Q. Find 75% of £600 www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  7. Percentages (Revised) National 4 NUM 1.2 Now try Exercise 1 Ch15 (page 180) www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  8. National 4 NUM 1.2 Q1. 0.5 + 5 x 8 Starter Questions Q2. Multiply out the brackets and simplify www.mathsrevision.com Q3. Created by Mr. Lafferty Maths Dept.

  9. 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. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  10. 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. www.mathsrevision.com LOSS = Buying Price – Selling Price Created by Mr. Lafferty Maths Dept.

  11. 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. www.mathsrevision.com I made a LOSS of £5.50 - £4.00 = £1.50 Created by Mr. Lafferty Maths Dept.

  12. Profit and Loss National 4 NUM 1.2 Now try Ex 2 Ch15 (page 182) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  13. 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. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  14. National 4 NUM 1.2 Starter Questions Q1. Expand out 2j (k – 5g + 4jk) Q2. Find all the missing angles 25o www.mathsrevision.com Q3. Created by Mr. Lafferty Maths Dept.

  15. 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. www.mathsrevision.com Normally you pay more for the goods using this method. Created by Mr. Lafferty Maths Dept.

  16. Hire Purchase National 4 NUM 1.2 Buying Products Hoover Cash Price £120 or by H.P. £30 deposit + 12 Payment £8.50 www.mathsrevision.com 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 Created by Mr. Lafferty Maths Dept.

  17. 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 www.mathsrevision.com 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 Created by Mr. Lafferty Maths Dept.

  18. Hire Purchase National 4 NUM 1.2 Now try Ex 3 Ch15 (page 185) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  19. National 4 NUM 1.2 Q1. Expand out 2a (a – c + 4ab) Starter Questions Q2. Find the missing angle 22o www.mathsrevision.com Q3. Created by Mr. Lafferty Maths Dept.

  20. 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. www.mathsrevision.com Created by Mr. Lafferty Maths Dept

  21. 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 www.mathsrevision.com It is a good idea to buy content insurance in case your house gets broken into or items breakdown. Created by Mr. Lafferty Maths Dept

  22. House & Contents Insurance National 4 NUM 1.2 www.mathsrevision.com Created by Mr.Lafferty Maths Dept

  23. House & Contents Insurance National 4 NUM 1.2 Example 1 : How much is the House Insurance for a house valued at £40 000. Premium (cost of Insurance) Value £0.73 £1 000 www.mathsrevision.com £40 000 £29.20 Created by Mr. Lafferty Maths Dept

  24. 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 www.mathsrevision.com £7.30 more £10 000 Created by Mr. Lafferty Maths Dept

  25. 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 : www.mathsrevision.com £ 17.85 Contents insurance : Total : £76.25 Created by Mr. Lafferty Maths Dept

  26. Household Insurance National 4 NUM 1.2 Now try Ex 4 Ch15 (page 188) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  27. Starter Questions National 4 NUM 1.2 www.mathsrevision.com Created by Mr. Lafferty Maths Dept

  28. 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. www.mathsrevision.com Created by Mr.Lafferty Maths Dept

  29. 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. www.mathsrevision.com Created by Mr.Lafferty Maths Dept

  30. Life Insurance National 4 NUM 1.2 Table shows monthly premiums. The sum assured is £10000 (with Profits) for the term 20 years. www.mathsrevision.com 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. Created by Mr.Lafferty Maths Dept

  31. 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 www.mathsrevision.com Created by Mr.Lafferty Maths Dept

  32. Life Insurance National 4 NUM 1.2 Now try Exercise 5 Ch15 (page 191) www.mathsrevision.com Created by Mr.Lafferty Maths Dept

  33. National 4 NUM 1.2 Q1. Expand out 2a (a – c + 4ab) Starter Questions Q2. Find two missing angles 32o Q3. Find y www.mathsrevision.com Q4. The answer is 45. What is the question. Created by Mr. Lafferty Maths Dept.

  34. 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. www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  35. Converting to a foreign currency Currency Exchange £ Foreign currency x exchange rate www.mathsrevision.com Converting back to £’s £ Foreign currency ÷ exchange rate Created by Mr. Lafferty Maths Dept

  36. 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 € www.mathsrevision.com Converting £’s to Euros € simply multiply (a) To change £80 to euros 80 x 1.54 = 123.20 € Created by Mr. Lafferty Maths Dept.

  37. Foreign Exchange National 4 NUM 1.2 Now try Ex 6 Q1 to Q5 Ch15 (page 193) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  38. 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 € www.mathsrevision.com Converting Euros €’s to £’s simply divide To change 616 € to £’s 616 ÷ 1.54 = £400 Created by Mr. Lafferty Maths Dept.

  39. Foreign Exchange National 4 NUM 1.2 Now try Ex 6 Q6 to Q12 Ch15 (page 194) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

  40. National 4 NUM 1.2 Starter Questions www.mathsrevision.com 10cm 8cm Created by Mr. Lafferty Maths Dept.

  41. 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. www.mathsrevision.com • Solve problems in context. Created by Mr. Lafferty Maths Dept.

  42. 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 www.mathsrevision.com % increase = Created by Mr. Lafferty Maths Dept.

  43. 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? www.mathsrevision.com Actual Increase = 28p – 20p = 8p % increase = Created by Mr. Lafferty Maths Dept.

  44. Percentage Profit National 4 NUM 1.2 Now try Extension Booklet 2E (page 79) www.mathsrevision.com Created by Mr. Lafferty Maths Dept.

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