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**Created by Mr. Lafferty Maths Dept.**

Money National 4 NUM 1.2 Revision of Percentages Profit and Loss Hire Purchase Building & Contents Insurance Life Insurance Foreign Exchange Percentage Profit 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Compiled by Mr. Lafferty Maths Dept.**

Starter Questions National 4 NUM 1.2 31-Mar-17 Compiled by Mr. Lafferty Maths Dept.

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**Percentages (Revised)**

National 4 NUM 1.2 Learning Intention Success Criteria 1. To revise some basic percentages. To know the basic percentages. Calculate basic percentage without a calculator. 31-Mar-17 Compiled by Mr. Lafferty Maths Dept.

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**Percentages (Revised)**

National 4 NUM 1.2 Remember from previous section you know learn these ! 31-Mar-17 Compiled by Mr. Lafferty Maths Dept.

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**Percentages (Revised)**

National 4 NUM 1.2 Q. Find 30% of £40 31-Mar-17 Compiled by Mr. Lafferty Maths Dept.

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**Percentages (Revised)**

National 4 NUM 1.2 Q. Find 75% of £600 31-Mar-17 Compiled by Mr. Lafferty Maths Dept.

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**Percentages (Revised)**

National 4 NUM 1.2 Now try Exercise 1 Ch15 (page 180) 31-Mar-17 Compiled by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Starter Questions National 4 NUM 1.2 Q x 8 Q2. Multiply out the brackets and simplify Q3. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Profit and Loss National 4 NUM 1.2 Learning Intention Success Criteria To understand the terms profit and loss. To know the meaning of the terms PROFIT and LOSS. Apply knowledge to calculations. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Profit and Loss 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 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Profit and Loss www.mathsrevision.com Example 1**

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 £ £4.00 = £1.50 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Profit and Loss National 4 NUM 1.2 Now try Ex 2 Ch15 (page 182) 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Hire Purchase National 4 NUM 1.2 Learning Intention Success Criteria To understand the terms Hire Purchase. To know the meaning of the terms HIRE PURCHASE. Apply knowledge to calculations. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Starter Questions National 4 NUM 1.2 Q1. Expand out 2j (k – 5g + 4jk) Q2. Find all the missing angles 25o Q3. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

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. Normally you pay more for the goods using this method. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Hire Purchase www.mathsrevision.com Buying Products**

National 4 NUM 1.2 Buying Products Hoover 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 = £ x £28.80 = £420.60 Difference in price = £ £ = £55.10 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Loans & Hire Purchase www.mathsrevision.com Buying Products**

National 4 NUM 1.2 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 = £ £ = £55.10 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Hire Purchase National 4 NUM 1.2 Now try Ex 3 Ch15 (page 185) 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Starter Questions National 4 NUM 1.2 Q1. Expand out 2a (a – c + 4ab) Q2. Find the missing angle 22o Q3. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**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. 31-Mar-17 Created by Mr. Lafferty Maths Dept

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**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 It is a good idea to buy content insurance in case your house gets broken into or items breakdown. 31-Mar-17 Created by Mr. Lafferty Maths Dept

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**House & Contents Insurance**

National 4 NUM 1.2 Items Charge Building per £1000 £0.73 Contents per £1000 £3.57 31-Mar-17 Created by Mr.Lafferty Maths Dept

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**House & Contents Insurance**

National 4 NUM 1.2 Example 1 : How much is the House Insurance for a house valued at £ Value Premium (cost of Insurance) £1 000 £0.73 £40 000 £29.20 31-Mar-17 Created by Mr. Lafferty Maths Dept

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**House & Contents Insurance**

National 4 NUM 1.2 Example 2 : I decided to increase my insurance from £ to £ cover. How much more did it have to pay. Value Premium (cost of Insurance) £1 000 £0.73 £10 000 £7.30 more 31-Mar-17 Created by Mr. Lafferty Maths Dept

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**House & Contents Insurance**

National 4 NUM 1.2 Example : How much for Buildings insurance and contents insurance if a house is valued at £ and contents are valued at £5 000. Buildings insurance : £58.40 Contents insurance : £ 17.85 Total : £76.25 31-Mar-17 Created by Mr. Lafferty Maths Dept

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**Created by Mr. Lafferty Maths Dept.**

Household Insurance National 4 NUM 1.2 Now try Ex 4 Ch15 (page 188) 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Starter Questions www.mathsrevision.com National 4 NUM 1.2 31-Mar-17**

Created by Mr. Lafferty Maths Dept

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**Created by Mr.Lafferty Maths Dept**

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. 31-Mar-17 Created by Mr.Lafferty Maths Dept

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**Life Insurance www.mathsrevision.com**

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. Age Male smoker Female smoker Male non-smoker Female 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 31-Mar-17 Created by Mr.Lafferty Maths Dept

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**Life Insurance www.mathsrevision.com Table shows monthly premiums.**

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 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 £ to her dependants should she die. What is her monthly premium and how much will she pay over 20 years. 31-Mar-17 Created by Mr.Lafferty Maths Dept

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**Created by Mr.Lafferty Maths Dept**

Life Insurance National 4 NUM 1.2 Monthly premium = ÷ x 0.66 = £9.90 Total paid over 20 years = £9.90 x 12 x 20 = £2376 31-Mar-17 Created by Mr.Lafferty Maths Dept

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**Created by Mr.Lafferty Maths Dept**

Life Insurance National 4 NUM 1.2 Now try Exercise 5 Ch15 (page 191) 31-Mar-17 Created by Mr.Lafferty Maths Dept

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**Created by Mr. Lafferty Maths Dept.**

Starter Questions National 4 NUM 1.2 Q1. Expand out 2a (a – c + 4ab) Q2. Find two missing angles 32o Q3. Find y Q4. The answer is 45. What is the question. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Foreign Exchange National 4 NUM 1.2 Learning Intention Success Criteria To explain how to convert £’s to another currency and vice versa. 1. Be able to convert £’s to another currency. Be able to convert back to £’s. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Converting to a foreign currency**

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

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**Created by Mr. Lafferty Maths Dept.**

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 € Converting £’s to Euros € simply multiply (a) To change £80 to euros 80 x 1.54 = € 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Foreign Exchange National 4 NUM 1.2 Now try Ex 6 Q1 to Q5 Ch15 (page 193) 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Foreign Exchange www.mathsrevision.com**

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 € Converting Euros €’s to £’s simply divide To change 616 € to £’s 616 ÷ 1.54 = £400 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Foreign Exchange National 4 NUM 1.2 Now try Ex 6 Q6 to Q12 Ch15 (page 194) 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Starter Questions National 4 NUM 1.2 10cm 8cm 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**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 calculate percentage increase / decrease. Solve problems in context. 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**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 % increase = 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**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? Actual Increase = 28p – 20p = 8p % increase = 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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**Created by Mr. Lafferty Maths Dept.**

Percentage Profit National 4 NUM 1.2 Now try Extension Booklet 2E (page 79) 31-Mar-17 Created by Mr. Lafferty Maths Dept.

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