www mathsrevision com Starter Questions 13 Dec21 Compiled

www. mathsrevision. com Starter Questions 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Loans Learning Intention Success Criteria 1. To explain the term loan and the advantages and disadvantages. 1. To understand the term loan and the advantages and disadvantages. 2. To explain how to calculate the cost of a loan. 2. To be able to calculate the cost of a loan. 13 -Dec-21 Created by Mr. Lafferty

Loans www. mathsrevision. com What is a loan ? If you want to buy goods that you do not have enough money for. You need to borrow money from (normally the bank ). This is called a loan ? Advantages Get the goods you want A small sum back each month 13 -Dec-21 Disadvantages Pay more back In debt Insurance Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Loans £ 200 £ 400 3 months 74 148 222 296 370 6 months 38 76 114 152 190 9 months 26 52 78 104 130 12 months 20 40 60 80 13 -Dec-21 £ 600 Compiled by Mr. Lafferty Maths Dept. £ 800 £ 1000 100

www. mathsrevision. com Loans Use the rows and columns to find how much the repayments will be for a loan of : • £ 800 over 12 months £ 152 • £ 1000 over 12 months £ 100 • £ 400 over 3 months £ 148 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Loans How much extra do you pay by getting a loan : • £ 800 over 6 months £ 152 x 6 = £ 912 - £ 800 = £ 112 £ 100 • £ 1000 over 12 months £ 1000 x 12 = £ 1200 - £ 1000 = £ 200 £ 148 • £ 400 over 3 months £ 148 x 3 = £ 444 - £ 400 = £ 44 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Loans Now try Exercise 5. 1 Ch 5 (page 63) 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Starter Questions 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Hire Purchase Learning Intention Success Criteria 1. To explain the term Hire Purchase (HP) and the advantages and disadvantages. 2. To explain how to calculate the cost of a HP loan. 13 -Dec-21 Created by Mr. Lafferty 1. To understand the term Hire Purchase and the advantages and disadvantages. 2. To be able to calculate the cost of a HP.

Hire Purchase www. mathsrevision. com What is a Hire Purchase ? If you want to buy goods that you do not have enough money for, some companies let you pay for the goods over a period of time. It is very similar to a loan but you do not borrow any money ! Advantages Disadvantages Get the goods you want A small sum back each month 13 -Dec-21 Pay more back Insurance Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Hire Purchase £ 200 £ 400 3 months 74 148 222 296 370 6 months 38 76 114 152 190 9 months 26 52 78 104 130 12 months 20 40 60 80 13 -Dec-21 £ 600 Compiled by Mr. Lafferty Maths Dept. £ 800 £ 1000 100

www. mathsrevision. com Hire Purchase Use the rows and columns to find how much the repayments will be for a loan of : • £ 800 over 12 months £ 152 • £ 1000 over 12 months £ 100 • £ 400 over 3 months £ 148 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Hire Purchase How much extra do you pay by getting a loan : • £ 800 over 6 months £ 152 x 6 = £ 912 - £ 800 = £ 112 £ 100 • £ 1000 over 12 months £ 1000 x 12 = £ 1200 - £ 1000 = £ 200 £ 148 • £ 400 over 3 months £ 148 x 3 = £ 444 - £ 400 = £ 44 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.

www. mathsrevision. com Hire Purchase Now try Exercise 6. 1 Ch 5 (page 64) 13 -Dec-21 Compiled by Mr. Lafferty Maths Dept.