Download presentation

Presentation is loading. Please wait.

Published byEthan Carr Modified over 2 years ago

1
Chapter 9 Time & Money

2
Learning Objectives Convert 12-hr clock to 24-hr clock Convert 24-hr clock to 12-hr clock Work out differences between 2 times Read a train/bus timetable Answer questions based on timetables Work out basic wages Work out commission Calculate income tax Work with credit problems Calculate best-buy problems Calculate household bills Calculate insurance premiums Calculate VAT Do reverse VAT problems Calculate simple interest Calculate compound interest Work with foreign exchange

3
12-Hr & 24-Hr Clock 12 Hr Clock –Before midday must use am –After midday must use pm –egs 6.50am 9.30pm 24 Hr Clock –Must NOT use am or pm –Must have 4 figures –After midday hours are 13 to 23 –Egs 14.00 08.00

4
Converting Between 12-Hr & 24- HR 12 Hr – 24 Hr If before midday make sure you have 4 digits If after midday add 12 to the hours 10.30am 10.10pm 6.50am 24Hr – 12 Hr If before midday put am and remove 0 if necessary If after midday put pm and subtract 12 0930 1750 1045

5
Examples 1. A video is set to record between 1120 and 1610. How long is it set for? 2. A train left at 9.20am and arrived at 2.05pm. How long was the journey?

6
Wages Basic Pay = Number of Hours×Hourly Rate Overtime at double time = × 2 Overtime at time and a half = × 1.5 Examples 1. A mechanic is paid £4.20 per hour for a basic 40 hour week. In one week he works for 48 hours. Overtime is paid at time and a half. How much does he earn that week?

7
Commission Commission is an incentive to make people work harder. It is usually a certain percentage of what the person sells. It is added on to their basic wage Example An estate agent is paid a salary of £11000 plus 0.5% on the sales of all houses. One year he sells houses worth £2040500. How much did he earn that year?

8
Income Tax Gross Pay = pay before tax/ deductions Net Pay = take home pay Everyone has a tax allowance (this is a amount you are allowed to earn without paying tax) Taxable income = gross income – tax allowance (this is what you are taxed on)

9
Income Tax Examples (1) George earns £5800 per year. His tax allowance is £4385 per year and he pays 10p in the £ on his taxable income. How much tax does he earn?

10
(2) Alex has an annual salary of £35240. Her tax allowance is £4385 per year. She pays tax at 10p in the £ on the 1 st £1500 of her taxable income, 22p in the £ on the next £26500 and 40p in the £ on the remainder. She is paid monthly. How much tax does she pay each month?

11
Spending Credit = deposit + instalments This lets you but something now and pay for it later Example A caravan costs £6450. It can be bought on credit for a deposit of 23% and 36 monthly instalments of £150. How much more is paid for the caravan when it is bought on credit?

12
More Spending 2. Hamish buys 1kg of pears and 2kg of apples for £2.73. If pears cost 89p per kg, how much per kg are apples?

13
Spending Best Buys Example Jam is available in 2 sizes small 250g 58p large 454g £1.06 Which is better value for money?

14
Household Bills Normal bill = Standing Charge + Number of Units×Cost of Units Examples (1)Sarah uses 1782 units of electricity at 6.16p per unit in a quarter. The quarterly charge is £10.30. How much is her bill?

15
(2) Mr Smith’s house is valued at £134000 and its contents are valued at £45000. Using the table below, how much is his annual insurance premium? Building & Contents Insurance Annual Premium for each £1000 insured BuildingsContents £1.50 Minimum £20 p.a. £5.00

16
Value Added Tax VAT is usually 17.5% on goods VAT is usually 5% on gas & electricity bills Examples (1) A restaurant bill is £24 + VAT at 17.5%. What is the total bill?

17
(2) An electricity bill is £49.14 including VAT at 5%. How much VAT is paid?

18
Savings Simple Interest Interest calculate for 1 year and then multiplied for the number of years required Example (1) Find the simple interest at 3.2% paid on £600 invested for (a) 3 years (b) 9 months?

19
Savings Compound Interest – interest is calculated each year and added on to the balance Example (2) Find the compound interest at 3.2% paid on £600 invested for 3 years

20
Foreign Exchange Change into foreign money × Change back from foreign money ÷ Examples 1. If £1 buys 12.48 krone. How much is 500 krone worth? 2. If £1 buys 1.55 euros. How much would £75 buy?

Similar presentations

© 2017 SlidePlayer.com Inc.

All rights reserved.

Ads by Google

Ppt on artificial intelligence free download Ppt on teachers day free download Project ppt on advertising Marketing mix ppt on nokia phones Ppt on power grid control through pc Ppt on series voltage regulator Ppt on tsunami in india Ppt on the digestive system of human Download ppt on oxidation and reduction Ppt on natural resources and conservation degree