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Published byDrusilla Lloyd Modified over 7 years ago

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Using a calculator When using a calculator for money you have to add in a number yourself sometimes. This only happens when the answer to a question should have a zero as the 2nd decimal place, as in the example above. When doing problems that involve money, you should always ensure that your answer has 2 decimal places. 2 decimal places means that after the decimal point, there should be 2 numbers. For example: £5.20 has 2 decimal places. A calculator does not add in this zero, so you have to ensure that you do! 5.2 The calculator displays £5.20 as 5.2. You have to recognise that this is £5.20 by adding the missing zero.

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Adding and subtracting money When doing addition and subtraction problems, it is very important that you follow a few basic rules to ensure that you get the answer right every time. 1st step When writing out the sum, make sure that the numbers are in the correct columns We are going to work out £4.25 + £2.97 2nd step Always start in the end column then move along to the left The answer is £7.22 £4.25 2.2 £7 £2.97

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The same steps are involved when subtracting amounts of money. Adding and subtracting money We are going to work out £7.35 – £2.65 1st step When writing out the sum, make sure that the numbers are in the correct columns 2nd step Always start in the end column then move along to the left The answer is £4.70 7. 3 5 - 2. 6 5 0. 7 6 1 4 Now try questions 1 and 2 in your booklet.

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Discount and surcharge A discount means that you pay less for something. To work out a discount you subtract from the original price. 1.A shop is having a sale. A pair of jeans cost £65 before the sale and has been discounted by £25. How much are the jeans now? £65 - £25 A surcharge means that you pay extra for something. 2.A day ticket for T in the Park costs £55. There is a surcharge of £4.50 for a booking fee. How much will the ticket cost in total? £55.00 + £ 4.50 The jeans now cost £40 The ticket will cost £59.50 Now try question 3 in your booklet. £40 £59.50

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VAT The government adds a tax onto most of the things that you pay for called value added tax (VAT). This money helps to pay for running the country. 1.When shopping at Currys, John bought a television for £350. VAT of £61.25 was added to the bill. How much is the total bill? £350.00 + £ 61.25 2.A builder quotes £3100 for building work. VAT of £542.50 is added to the bill. How much is the total quote? Now try question 4 in your booklet. £411.25 £3100.00 + £ 542.50 £3642.50 Total bill = £411.25 Total quote = £3642.50

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Problem solving For the following money problems, you have to decide whether to add, subtract, multiply or divide. 1.Jodie bought four CDs for £9.50 from her local supermarket. How much did she spend on the CDs? For this problem you multiply £9.50 × 4 = £38.00 2.Julie spent £48.45 on three jumpers. How much did each jumper cost? For this problem you divide £48.45 ÷ 3 = £16.15

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Problem solving 3.Finn went to the gym for a workout. It costs £6.50 for the day and he paid with a £20 note. How much change did Finn receive? For this problem you subtract. 4.Jack is given £10 pocket money for the week. He spends £1.50 on swimming and £5.50 at the cinema. How much money does he have left? This problem involves both addition and subtraction. Now try question 5 in your booklet. He has £3 left. £ 20.00 - £ 6.50 13.50 £ 5.50 + £ 1.50 7.00 £ 10.00 - £ 7.00 3.00

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Test yourself You are now ready to tackle the end-of-topic test in your booklet. GOOD LUCK!!

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