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Money

National 4 NUM 1.2. Money. Simple Interest. Simple Bills & VAT. Electricity Bills. www.mathsrevision.com. National 4 NUM 1.2. Starter Questions. www.mathsrevision.com. Simple Interest. National 4 NUM 1.2. Learning Intention. Success Criteria. To understand the term simple interest.

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Money

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  1. National 4 NUM 1.2 Money Simple Interest Simple Bills & VAT Electricity Bills www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

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

  3. Simple Interest National 4 NUM 1.2 Learning Intention Success Criteria • To understand the term simple interest. • To explain what the term simple interest means and how to calculate it. • Calculate simply interest. www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  4. What type of accounts can you get? Are there other places to put your money? Why put your money in a bank? National 4 NUM 1.2 Money Premium Bonds Building Society Interest p.a. (per annum) St Ninian’s Savings Bank www.mathsrevision.com Current account Savings account Supersaver account High Interest account Compiled by Mr. Lafferty Maths Dept.

  5. Simple Interest Just working out percentages National 4 NUM 1.2 Simple Interest 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? www.mathsrevision.com created by Mr. Lafferty @ www.mathsrevision.com

  6. Simple Interest Just working out percentages National 4 NUM 1.2 Simple Interest 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. www.mathsrevision.com created by Mr. Lafferty @ www.mathsrevision.com

  7. Simple Interest Just working out percentages National 4 NUM 1.2 Simple Interest Stuart invested £4000 in the building Society with an interest rate of 5% p.a. How much does he have after 5 years? www.mathsrevision.com created by Mr. Lafferty @ www.mathsrevision.com

  8. Simple Interest National 4 NUM 1.2 Now try Ex 1 Ch8 (page 91) www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

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

  10. Simple Bills & VAT National 4 NUM 1.2 Learning Intention Success Criteria • Understand the term VAT. 1. To explain how to calculate simple bills that include VAT. • Calculate simple bills that include VAT. www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  11. Simple Bills & VAT National 4 NUM 1.2 Value added Tax VAT means : Why do we pay it ? To pay for NHS, bin collection, School education etc…… www.mathsrevision.com What is the current percentage rate of VAT 17.5% Going up to 20% Created by Mr. Lafferty Maths Dept

  12. National 4 NUM 1.2 Money Problems www.mathsrevision.com Created by Mr.Lafferty Maths Dept

  13. National 4 NUM 1.2 Money Problems 0 72 1 44 3 20 www.mathsrevision.com 1 5 3 6 Created by Mr.Lafferty Maths Dept

  14. National 4 NUM 1.2 Money Problems 1 44 0 45 0 76 www.mathsrevision.com 1 1 2 6 5 Created by Mr.Lafferty Maths Dept

  15. = 17.5 ÷ 100 x 132 = £23.45 National 4 NUM 1.2 Example : Copy and complete the garage bill. Money Problems A tax added by Government 78 50 53 50 1 1 1 www.mathsrevision.com 1 3 2 0 0 23 10 1 5 5 1 0 Created by Mr.Lafferty Maths Dept

  16. = 17.5 ÷ 100 x 61.70 = £10.80 ( to nearest pence) National 4 NUM 1.2 Example : Copy and complete the garage bill. Money Problems A tax added by Government 35 95 25 75 1 1 1 www.mathsrevision.com 6 1 7 0 10 80 1 7 2 5 0 Created by Mr.Lafferty Maths Dept

  17. Simple Bills & VAT National 4 NUM 1.2 Now try Ex2 Ch8 (page 94) Compiled by Mr. Lafferty Maths Dept.

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

  19. Electricity Bills National 4 NUM 1.2 Learning Intention Success Criteria • Understand how a electricity bill is created. 1. To explain how an electricity bill is created. • Be able to calculate simple electricity bills. www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

  20. = 8 ÷ 100 x 39.15 = £3.13 (to nearest pence) Electricity Bills National 4 NUM 1.2 13.5 39 15 3567 www.mathsrevision.com 3 13 3277 1 4 2 2 8 290 290 Compiled by Mr. Lafferty Maths Dept.

  21. = 8 ÷ 100 x 112.52 = £9.00 (to nearest pence) Electricity Bills National 4 NUM 1.2 14.2 112 52 08219 www.mathsrevision.com 9 00 07421 1 1 2 1 5 2 798 798 Compiled by Mr. Lafferty Maths Dept.

  22. Electricity Bills National 4 NUM 1.2 Now try Exercise 3 Ch8 (page 96) www.mathsrevision.com Compiled by Mr. Lafferty Maths Dept.

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