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1-Jun-14Created by Mr. Lafferty Maths Dept. Money www.mathsrevision.com Revision of Percentages Profit and Loss Hire Purchase Building & Contents Insurance Foreign Exchange Percentage Profit National 4 NUM 1.2 Life Insurance

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1-Jun-14Compiled by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com National 4 NUM 1.2

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1-Jun-14Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1.To know the basic percentages. 1.To revise some basic percentages. 2.Calculate basic percentage without a calculator. Percentages (Revised) National 4 NUM 1.2

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1-Jun-14Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Remember from previous section you know learn these ! Percentages (Revised) National 4 NUM 1.2

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1-Jun-14Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Q. Find 30% of £40 Percentages (Revised) National 4 NUM 1.2

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1-Jun-14Compiled by Mr. Lafferty Maths Dept. www.mathsrevision.com Q. Find 75% of £600 Percentages (Revised) National 4 NUM 1.2

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1-Jun-14Compiled by Mr. Lafferty Maths Dept. Now try Exercise 1 Ch15 (page 180) www.mathsrevision.com Percentages (Revised) National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Starter Questions Q1. 0.5 + 5 x 8 Q3. Q2. Multiply out the brackets and simplify www.mathsrevision.com National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To know the meaning of the terms PROFIT and LOSS. 1.To understand the terms profit and loss. 2.Apply knowledge to calculations. www.mathsrevision.com Profit and Loss National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Profit and Loss Profit :When you sell something for MORE than you bought it. Loss :When you sell something for LESS than you bought it. PROFIT = Selling Price – Buying Price LOSS = Buying Price – Selling Price www.mathsrevision.com National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Profit and Loss 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. Example 1 If I buy a Playstation for £100 and sell it for £120. £120-£100 = £20I have made a PROFIT of I made a LOSS of£5.50 - £4.00 = £1.50 www.mathsrevision.com National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Now try Ex 2 Ch15 (page 182) www.mathsrevision.com Profit and Loss National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.To know the meaning of the terms HIRE PURCHASE. 1.To understand the terms Hire Purchase. 2.Apply knowledge to calculations. www.mathsrevision.com Hire Purchase National 4 NUM 1.2

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

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1-Jun-14Created by Mr. Lafferty Maths Dept. Hire Purchase 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. National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Buying Products Hoover Cash Price £365.50 or by H.P. £75 deposit + 12 Payment £28.80 £75 + 12 x £28.80 = £420.60Total H.P. price = Hire Purchase www.mathsrevision.com Difference in price =£420.60 - £365.50 = £55.10 How much more do you pay by using Hire Purchase National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. + 12 x £28.80 = £420.60Total H.P. price = www.mathsrevision.com Difference in price =£420.60 - £365.50 = £55.10 How much more do you pay by using Hire Purchase Buying Products Washing Machine Cash Price £365.50 or by H.P. £75 deposit + 12 Payment £28.80 £75 Loans & Hire Purchase National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Now try Ex 3 Ch15 (page 185) www.mathsrevision.com Hire Purchase National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Starter Questions Q1. Expand out 2a (a – c + 4ab) Q3. Q2. Find the missing angle www.mathsrevision.com 22 o National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept House & Contents Insurance www.mathsrevision.com Learning Intention Success Criteria 2.Calculate the value of building and content insurance given the value of the house and contents. 1.To explain the how to calculate building and contents insurance for a house. 1.Why we have house building insurance. National 4 NUM 1.2

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House & Contents Insurance 1-Jun-14Created by Mr. Lafferty Maths Dept www.mathsrevision.com You NEED to buy building insurance in case anything goes wrong with your house. It is a good idea to buy content insurance in case your house gets broken into or items breakdown. Roof, walls, floor etc... TV, DVD, Washing Machine National 4 NUM 1.2

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1-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.comItemsCharge Building per £1000 £0.73 Contents per £1000 £3.57 House & Contents Insurance National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept www.mathsrevision.com Example 1 :How much is the House Insurance for a housevalued at £40 000. Value Premium (cost of Insurance) £1 000 £0.73 £40 000£29.20 House & Contents Insurance National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept www.mathsrevision.com Example 2 :I decided to increase my insurance from £40 000 to £50 000 cover. How much more did it have to pay. Value Premium (cost of Insurance) £1 000 £0.73 £10 000 £7.30 more House & Contents Insurance National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept www.mathsrevision.com 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 : £ 17.85 £58.40 Contents insurance : Total : £76.25 House & Contents Insurance National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Now try Ex 4 Ch15 (page 188) www.mathsrevision.com Household Insurance National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept Starter Questions Starter Questions www.mathsrevision.com National 4 NUM 1.2

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1-Jun-14Created by Mr.Lafferty Maths Dept Life Insurance www.mathsrevision.com Learning Intention Success Criteria 1.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. National 4 NUM 1.2

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National 4 NUM 1.2 Table shows monthly premiums. The sum assured is £10000 (with Profits) for the term 20 years. 1-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Life Insurance Age Male smoker Female smoker Malenon-smokerFemalenon-smoker201.251.020.770.57 251.361.110.860.66 301.481.200.960.75 What factors affect the cost of Life Insurance Age, Male or Female, smoker or Non- smoker

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Table shows monthly premiums. The sum assured is £10000 (with Profits) for the term 20 years. 1-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Life Insurance Age Male smoker Female smoker Malenon-smokerFemalenon-smoker201.251.020.770.57 251.361.110.860.66 301.481.200.960.75 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. National 4 NUM 1.2

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Monthly premium = 150000 ÷ 10000 x 0.66 = £9.90 1-Jun-14Created by Mr.Lafferty Maths Dept www.mathsrevision.com Life Insurance Total paid over 20 years = £9.90 x 12 x 20 = £2376 National 4 NUM 1.2

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1-Jun-14Created by Mr.Lafferty Maths Dept Now try Exercise 5 Ch15 (page 191) www.mathsrevision.com Life Insurance National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Starter Questions Q1. Expand out 2a (a – c + 4ab) Q3. Find y Q2. Find two missing angles Q4. The answer is 45. What is the question. www.mathsrevision.com 32 o National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Learning Intention Success Criteria 1.Be able to convert £s to another currency. 1.To explain how to convert £s to another currency and vice versa. 2.Be able to convert back to £s. www.mathsrevision.com Foreign Exchange National 4 NUM 1.2

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National 4 NUM 1.2 Created by Mr. Lafferty Maths Dept Currency Exchange www.mathsrevision.com Converting to a foreign currency £ x exchange rate Foreign currency £ ÷ exchange rate Converting back to £s

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1-Jun-14Created by Mr. Lafferty Maths Dept. The currency in most of Europe is the euro www.mathsrevision.com Converting £s to Euros simply multiply Foreign Exchange The exchange rate is approximately £ 1 1.54 (a)To change £80 to euros80 x 1.54 =123.20 Think going on holiday ! National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Now try Ex 6 Q1 to Q5 Ch15 (page 193) www.mathsrevision.com Foreign Exchange National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Coming back from holiday we want to do the opposite i.e. euros to £s www.mathsrevision.com Converting Euros s to £s simply divide Foreign Exchange The exchange rate is approximately £ 1 1.54 To change 616 to £ s616 ÷ 1.54 =£400 Think back from holiday ! National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Now try Ex 6 Q6 to Q12 Ch15 (page 194) www.mathsrevision.com Foreign Exchange National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Starter Questions www.mathsrevision.com 8cm 10cm National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Learning IntentionSuccess Criteria 1.To understand how to calculate percentage increase / decrease. 2.Solve problems in context. www.mathsrevision.com Calculating Percentages Percentage Increase / Decrease National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Calculating Percentages Example 1 : Daniel was paid £20 per week. He got a wage rise to £22 per week. What was his percentage increase in pay ? % increase = Actual Increase = £22 - £20 = £2 Percentage Increase / Decrease www.mathsrevision.com National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Example 1 A shopkeeper buys crisps for 20p each. He sells them for 28p. What is his percentage profit? www.mathsrevision.com % increase = Actual Increase = 28p – 20p = 8p Calculating Percentages Percentage Increase / Decrease National 4 NUM 1.2

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1-Jun-14Created by Mr. Lafferty Maths Dept. Now try Extension Booklet 2E (page 79) www.mathsrevision.com Percentage Profit National 4 NUM 1.2

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