Money www mathsrevision com National 4 NUM 1

Money www. mathsrevision. com National 4 NUM 1. 2 Revision of Percentages Profit and Loss Hire Purchase Building & Contents Insurance Life Insurance Foreign Exchange Percentage Profit 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Starter Questions www. mathsrevision. com National 4 NUM 1. 2 09 -Nov-20 Compiled by Mr. Lafferty Maths Dept.

Percentages (Revised) www. mathsrevision. com National 4 NUM 1. 2 Learning Intention 1. To revise some basic percentages. Success Criteria 1. To know the basic percentages. 2. Calculate basic percentage without a calculator. 09 -Nov-20 Compiled by Mr. Lafferty Maths Dept.

Percentages (Revised) National 4 NUM 1. 2 www. mathsrevision. com Remember from previous section you know learn these ! 09 -Nov-20 Compiled by Mr. Lafferty Maths Dept.

Percentages (Revised) National 4 NUM 1. 2 www. mathsrevision. com Q. 09 -Nov-20 Find 30% of £ 40 Compiled by Mr. Lafferty Maths Dept.

Percentages (Revised) National 4 NUM 1. 2 www. mathsrevision. com Q. 09 -Nov-20 Find 75% of £ 600 Compiled by Mr. Lafferty Maths Dept.

Percentages (Revised) www. mathsrevision. com National 4 NUM 1. 2 Now try Exercise 1 Ch 15 (page 180) 09 -Nov-20 Compiled by Mr. Lafferty Maths Dept.

Starter Questions National 4 NUM 1. 2 www. mathsrevision. com Q 1. 0. 5 + 5 x 8 Q 2. Multiply out the brackets and simplify Q 3. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Profit and Loss www. mathsrevision. com National 4 NUM 1. 2 Learning Intention Success Criteria 1. To understand the terms profit and loss. 1. To know the meaning of the terms PROFIT and LOSS. 2. Apply knowledge to calculations. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Profit and Loss www. mathsrevision. com National 4 NUM 1. 2 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 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Profit and Loss www. mathsrevision. com National 4 NUM 1. 2 Example 1 If I buy a Playstation for £ 100 and sell it for £ 120. 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. I made a LOSS of 09 -Nov-20 £ 5. 50 - £ 4. 00 = £ 1. 50 Created by Mr. Lafferty Maths Dept.

Profit and Loss www. mathsrevision. com National 4 NUM 1. 2 Now try Ex 2 Ch 15 (page 182) 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Hire Purchase www. mathsrevision. com National 4 NUM 1. 2 Learning Intention Success Criteria 1. To understand the terms Hire Purchase. 1. To know the meaning of the terms HIRE PURCHASE. 2. Apply knowledge to calculations. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Starter Questions www. mathsrevision. com National 4 NUM 1. 2 Q 1. Expand out 2 j (k – 5 g + 4 jk) Q 2. Find all the missing angles Q 3. 09 -Nov-20 Created by Mr. Lafferty Maths Dept. 25 o

Hire Purchase www. mathsrevision. com 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. Normally you pay more for the goods using this method. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Hire Purchase National 4 NUM 1. 2 www. mathsrevision. com Buying Products Hoover Cash Price £ 120 or by H. P. £ 30 deposit + 12 Payment £ 8. 50 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 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Loans & Hire Purchase National 4 NUM 1. 2 www. mathsrevision. com Buying Products 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 = £ 75 + 12 x £ 28. 80 = £ 420. 60 Difference in price = £ 420. 60 - £ 365. 50 = £ 55. 10 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Hire Purchase www. mathsrevision. com National 4 NUM 1. 2 Now try Ex 3 Ch 15 (page 185) 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Starter Questions www. mathsrevision. com National 4 NUM 1. 2 Q 1. Expand out 2 a (a – c + 4 ab) Q 2. Find the missing angle Q 3. 09 -Nov-20 Created by Mr. Lafferty Maths Dept. 22 o

House & Contents Insurance www. mathsrevision. com National 4 NUM 1. 2 Learning Intention Success Criteria 1. To explain the how to calculate building and contents insurance for a house. 09 -Nov-20 Created by Mr. Lafferty Maths Dept 1. Why we have house building insurance. 2. Calculate the value of building and content insurance given the value of the house and contents.

House & Contents Insurance Roof, walls, floor etc. . . www. mathsrevision. com National 4 NUM 1. 2 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. 09 -Nov-20 Created by Mr. Lafferty Maths Dept

House & Contents Insurance www. mathsrevision. com National 4 NUM 1. 2 Items Building per £ 1000 Contents per £ 1000 09 -Nov-20 Charge Created by Mr. Lafferty Maths Dept £ 0. 73 £ 3. 57

House & Contents Insurance www. mathsrevision. com National 4 NUM 1. 2 Example 1 : How much is the House Insurance for a house valued at £ 40 000. Value £ 1 000 Premium (cost of Insurance) £ 0. 73 £ 40 000 09 -Nov-20 £ 29. 20 Created by Mr. Lafferty Maths Dept

House & Contents Insurance www. mathsrevision. com 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 Value (cost of Insurance) £ 1 000 £ 0. 73 £ 7. 30 more £ 10 000 09 -Nov-20 Created by Mr. Lafferty Maths Dept

House & Contents Insurance www. mathsrevision. com 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. Buildings insurance : £ 58. 40 Contents insurance : £ 17. 85 Total : £ 76. 25 09 -Nov-20 Created by Mr. Lafferty Maths Dept

Household Insurance www. mathsrevision. com National 4 NUM 1. 2 Now try Ex 4 Ch 15 (page 188) 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Starter Questions www. mathsrevision. com National 4 NUM 1. 2 09 -Nov-20 Created by Mr. Lafferty Maths Dept

Life Insurance www. mathsrevision. com National 4 NUM 1. 2 Learning Intention Success Criteria 1. To calculate Life Insurance from a table of values taking account various factors. 09 -Nov-20 1. Read information from a chart. 2. Calculate Life Insurance taking in various factors. Created by Mr. Lafferty Maths Dept

Life Insurance www. mathsrevision. com What factors Age, affect the Male or Female, National 4 cost of Life smoker NUM 1. 2 Insurance or Non- smoker. Table shows monthly premiums. The sum assured is £ 10000 (with Profits) for the term 20 years. Age Male smoker Female smoker 20 1. 25 1. 02 0. 77 0. 57 25 1. 36 1. 11 0. 86 0. 66 30 1. 48 1. 20 0. 96 0. 75 09 -Nov-20 Male Female non-smoker Created by Mr. Lafferty Maths Dept

Life Insurance www. mathsrevision. com National 4 NUM 1. 2 Table shows monthly premiums. The sum assured is £ 10000 (with Profits) for the term 20 years. Age Male smoker Female smoker Male non-smoker Female non-smoker 20 1. 25 1. 02 0. 77 0. 57 25 1. 36 1. 11 0. 86 0. 66 30 1. 48 1. 20 0. 96 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 die. What is her monthly premium and how much will she pay over 20 years. 09 -Nov-20 Created by Mr. Lafferty Maths Dept

Life Insurance www. mathsrevision. com 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 09 -Nov-20 Created by Mr. Lafferty Maths Dept

Life Insurance www. mathsrevision. com National 4 NUM 1. 2 Now try Exercise 5 Ch 15 (page 191) 09 -Nov-20 Created by Mr. Lafferty Maths Dept

Starter Questions National 4 NUM 1. 2 www. mathsrevision. com Q 1. Expand out 2 a (a – c + 4 ab) Q 2. Find two missing angles 32 o Q 3. Find y Q 4. The answer is 45. What is the question. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Foreign Exchange www. mathsrevision. com National 4 NUM 1. 2 Learning Intention Success Criteria 1. To explain how to convert £’s to another currency and vice versa. 1. Be able to convert £’s to another currency. 2. Be able to convert back to £’s. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Currency Exchange National 4 NUM 1. 2 www. mathsrevision. com Converting to a foreign currency £ x exchange rate Foreign currency Converting back to £’s £ ÷ exchange rate Created by Mr. Lafferty Maths Dept Foreign currency

Foreign Exchange National 4 NUM 1. 2 www. mathsrevision. com Think The currency in most of Europe is the euro € going on The exchange rate is approximately holiday ! £ 1 1. 54 € Converting £’s to Euros € simply multiply (a) 09 -Nov-20 To change £ 80 to euros Created by Mr. Lafferty Maths Dept. 80 x 1. 54 = 123. 20 €

Foreign Exchange www. mathsrevision. com National 4 NUM 1. 2 Now try Ex 6 Q 1 to Q 5 Ch 15 (page 193) 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Foreign Exchange National 4 NUM 1. 2 www. mathsrevision. com Coming back from holiday we want to do the opposite i. e. euros to £’s Think The exchange rate is approximately back from £ 1 1. 54 € holiday ! Converting Euros €’s to £’s simply divide To change 616 € to £’s 09 -Nov-20 Created by Mr. Lafferty Maths Dept. 616 ÷ 1. 54 = £ 400

Foreign Exchange www. mathsrevision. com National 4 NUM 1. 2 Now try Ex 6 Q 6 to Q 12 Ch 15 (page 194) 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Starter Questions www. mathsrevision. com National 4 NUM 1. 2 10 cm 09 -Nov-20 Created by Mr. Lafferty Maths Dept. 8 cm

Calculating Percentages Percentage Increase / Decrease www. mathsrevision. com National 4 NUM 1. 2 Learning Intention Success Criteria 1. To understand how to calculate percentage increase / decrease. 2. Solve problems in context. 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Calculating Percentages Percentage Increase / Decrease www. mathsrevision. com 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 % increase = 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Calculating Percentages Percentage Increase / Decrease www. mathsrevision. com National 4 NUM 1. 2 Example 1 A shopkeeper buys crisps for 20 p each. He sells them for 28 p. What is his percentage profit? Actual Increase = 28 p – 20 p = 8 p % increase = 09 -Nov-20 Created by Mr. Lafferty Maths Dept.

Percentage Profit www. mathsrevision. com National 4 NUM 1. 2 Now try Extension Booklet 2 E (page 79) 09 -Nov-20 Created by Mr. Lafferty Maths Dept.