11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

MoneyMoneyw

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Simple Interest

Simple Bills & VAT

Electricity Bills

National 4 NUM 1.2

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

Starter Questionsw

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with length 3 cm.

2. 4.56 + 2.36 - 1.2

3. Find an equivalent fraction

with denominator 100 for .1

20

National 4 NUM 1.2

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.ww

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1.1. To understand the term To understand the term simple interest.simple interest.

1. To explain what the term simple interest means and how to calculate it.

2.2. Calculate simply interest.Calculate simply interest.

Simple InterestSimple InterestNational 4 NUM 1.2

National 4 NUM 1.2

Are there other places to put your

money?

Why put your

money in a bank?

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

MoneyMoneyw

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St Ninian’s Savings Bank

What type of accounts

can you get?

Current account

Savings account High

Interest account

Supersaver account

Building Society

Premium BondsInterest p.a.

(per annum)

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Simple InterestSimple InterestJust working

out percentages

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I have £400 in the Bank. At the end of each year I receive 7% of £400 in interest. How much interest do I receive after 1 years?How much do I now have?

I nterest p.a. = 7 ÷ 100 400 = £28

created by Mr. Lafferty @ www.mathsrevision.comcreated by Mr. Lafferty @ www.mathsrevision.comTuesday, April 11, 2023Tuesday, April 11, 2023

Total in Bank = £400 + £28 = £428

National 4 NUM 1.2

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Simple InterestSimple InterestJust working

out percentages

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I have £1200 in the Bank. I receive 10% p.a. in interest. How much interestdo I receive if I take my money out after 3 months.

I nterest p.a. = 10 ÷ 100 1200 = £120

After 1 month interest is 120 12 = £10.

After 3 months interest is = £10 3 = £30

created by Mr. Lafferty @ www.mathsrevision.comcreated by Mr. Lafferty @ www.mathsrevision.comTuesday, April 11, 2023Tuesday, April 11, 2023

National 4 NUM 1.2

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Simple InterestSimple InterestJust working

out percentages

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Stuart invested £4000 in the building Society with an interest rate of 5% p.a. How much does he have after 5 years?

I nterest p.a. = 5 ÷ 100 4000 = £200

After 5 years interest is 200 5 = £1000.

Total in Building Society = £4000 + £1000 = £5000

created by Mr. Lafferty @ www.mathsrevision.comcreated by Mr. Lafferty @ www.mathsrevision.comTuesday, April 11, 2023Tuesday, April 11, 2023

National 4 NUM 1.2

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11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

Now try Ex 1Ch8 (page 91)

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Simple InterestSimple InterestNational 4 NUM 1.2

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

Starter Questionsw

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75200

1. Calculate 1200 300

2. Simplify

3. Find of 65

4. Find highest number that divides both 14 and 35 without leaving a remainder.

110

National 4 NUM 1.2

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.ww

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1.1. Understand the term VAT.Understand the term VAT.1. To explain how to calculate simple bills that include VAT.

2.2. Calculate simple bills that Calculate simple bills that include VAT.include VAT.

Simple Bills & Simple Bills & VATVAT

National 4 NUM 1.2

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Simple Bills & VATSimple Bills & VAT

Created by Mr. LaffertyCreated by Mr. LaffertyMaths DeptMaths Deptw

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Why do we pay it ?

VAT means :

To pay for NHS, bin collection,School education etc……

17.5%

What is the current percentage rate of VAT

Going up to 20%

National 4 NUM 1.2

11 Apr 202311 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww

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Money ProblemsMoney ProblemsNational 4 NUM 1.2

11 Apr 202311 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww

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Money ProblemsMoney Problems

0 721 443 20

5 61

3

National 4 NUM 1.2

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Money ProblemsMoney Problems

1 440 450 76

2 5611

National 4 NUM 1.2

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Money ProblemsMoney Problems

Example : Copy and complete the garage bill.

A taxadded by

Government

78 5053 50

23 10

11

= 17.5 ÷ 100 x 132= £23.45

5 0151

2 00311

National 4 NUM 1.2

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Money ProblemsMoney Problems

Example : Copy and complete the garage bill.

A taxadded by

Government

35 9525 75

10 80

11

= 17.5 ÷ 100 x 61.70= £10.80 ( to nearest pence)

2 057

1 0761

1

National 4 NUM 1.2

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11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

Now try Ex2Ch8 (page 94)

Simple Bills & Simple Bills & VATVAT

National 4 NUM 1.2

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

Starter QuestionsStarter Questionsw

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15

100

1. Calculate 45.6 x 7

2. Write the fraction as a percentage

3. Find 20% of 700

4. 4 jars of sweets cost £2.40.

How much for 3 jars.

National 4 NUM 1.2

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1.1. Understand how a Understand how a electricity bill is created.electricity bill is created.

1. To explain how an electricity bill is created.

2.2. Be able to calculate simple Be able to calculate simple electricity bills.electricity bills.

Electricity BillsElectricity BillsNational 4 NUM 1.2

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Electricity BillsElectricity Bills

35673277

290290

13.5 39 15

= 8 ÷ 100 x 39.15= £3.13 (to nearest pence)

3 138

1224

National 4 NUM 1.2

798

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Electricity BillsElectricity Bills

0821907421

798

14.2 112 52

= 8 ÷ 100 x 112.52= £9.00 (to nearest pence)

9 002

15121

National 4 NUM 1.2

11 Apr 202311 Apr 2023 Compiled by Mr. Lafferty Maths Dept.Compiled by Mr. Lafferty Maths Dept.

Now try Exercise 3Ch8 (page 96)

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Electricity BillsElectricity BillsNational 4 NUM 1.2