mnu 3-09a 9-dec-15created by mr. lafferty maths dept. money foreign exchange best buys best service...
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MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
MoneyMoney
Foreign Exchange
Best Buys
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Best Service
Credit and Debit Cards
Best Contract
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Starter QuestionsStarter Questionsw
ww
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srevis
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.com If a = 7 b = 4 and c = 10
Write down as many equations as you can
e.g. a + b = 11
MNU 3-03a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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2.2. Convert £’s to another Convert £’s to another currency and vice versa.currency and vice versa.
1. We are learning how to convert £’s to another currency and vice versa.
1.1. Understand the term Understand the term exchange rate and the exchange rate and the proportion method.proportion method.
Foreign CurrencyForeign CurrencyConverting to another currency
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Foreign Currency
Up until 1st January 2002, all the countries in Europe had their own type of money (currency).
The euro was introduced and the other currencies were no longer accepted.
Britain still uses the pound (£) and when you go to Europe on holiday you have to change your pounds to euros.
A euro is divided into 100 parts and each part is called a cent
Converting to another currency
MNU 3-09a
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Foreign Currency
Euro €
Dollar $
1.44
1.51
Yen 190
Exchange rate £1=Example : How many euros will I get for £100.
Converting to another currency
Proportion method£ €
1 1.44 100
Are we expecting more or
less
(more) 44.1
1
100144
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Level 2Foreign Currency
Euro €
Dollar $
1.44
1.51
Yen 190
Exchange rate £1 =Example : How many Dollars will I get for £50.
Converting to another currency
Proportion method£ $
1 1.51 50
Are we expecting more or
less
(more) 51.1
1
5050.75$
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Foreign Currency
Euro €
Dollar $
1.44
1.51
Yen 190
Exchange rate £1 =Example : A iPod costs £300 inScotland and 420 € in Spain. Which is the better buy ?
Should buy in Spain and save 12 €
Converting to another currency
Proportion method£ €
1 1.44 300
Are we expecting more or
less
(more) 44.1
1
300432
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Foreign Currency
Euro €
Dollar $
1.44
1.51
Yen 190
Exchange rate £1=Example : How many £’s will
I get for 20 € .
Converting back to £’s
Proportion method € £1.44 1
20
Are we expecting more or
less
(more) 1
44.1
20 89.13£
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Foreign Currency
Euro €
Dollar $
1.44
1.50
Yen 190
Exchange rate £1 =Example : A business man returns from America with $450. He converts them back to £’s.How much will he get back ?
Converting back to £’s
Proportion method $ £1.50 1
450
Are we expecting more or
less
(more) 1
5.1
450 300£
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Now try TJ3bEx 1
Ch2 (page 13)
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MoneyMoney
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Starter QuestionsStarter Questionsw
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.com 1.Two numbers add to give 12 and
divide to give 3. Find the two numbers.
2. Two numbers subtract to give 5 and
multiply to 24. Find the two numbers.
3. Make your own question up.
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.ww
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.com Learning IntentionLearning Intention Success CriteriaSuccess Criteria
1.1. De able to compare De able to compare deals by finding the cost deals by finding the cost per unit.per unit.
1. We are learning to calculate the best deal for everyday items.
Best Deal Money Management
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Ex : What is the best deal for Soap Powder ?
Deal 1 - Proportion method g £
350 10.50 1
Are we expecting more or
less
(less) 110 50
350. 0 03£ .
Best Deal Money Management
Deal 1 Deal 2
350g 250g
£10.50 £10.00
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Ex : What is the best deal for Soap Powder ?
Deal 2 - Proportion method g £
250 10.00 1
Are we expecting more or
less
(less) 110 00
250. 0 04£ .
Best Deal Money Management
Deal 1 Deal 2
350g 250g
£10.50 £10.00
Deal 1 is Bestonly 3p per gram
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Ex : What is the best deal for Petrol.
Deal 2 - Proportion method l £
60 65.40 1
Are we expecting more or
less
(less) 165 40
60. 1 09£ .
Best Deal Money Management
Deal 1 Deal 2
60 litres 38 litres
£65.40 £40.66
MNU 3-09a
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.com Ex : What is the best deal for Petrol.
Deal 2 - Proportion method l £
38 40.66 1
Are we expecting more or
less
(less) 140 66
38. 1 07£ .
Best Deal Money Management
Deal 1 Deal 2
60 litres 38 litres
£65.40 £40.66
Deal 2 is Best£1.07 per litre
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Ex : What is the best deal for tennis balls ?
Deal 1 - Proportion method T £
10 5.40 1
Are we expecting more or
less
(less) 15 40
10. 0 54£ .
Best Deal Money Management
Deal 1 Deal 2 Deal 3
10 balls
15 balls
48 balls
£5.40 £7.50 £24.48
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Ex : What is the best deal for tennis balls ?
Deal 2 - Proportion method T £
15 7.50 1
Are we expecting more or
less
(less) 17 50
15. 0 50£ .
Best Deal Money Management
Deal 1 Deal 2 Deal 3
10 balls
15 balls
48 balls
£5.40 £7.50 £24.48
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Ex : What is the best deal for tennis balls ?
Deal 3 - Proportion method T £
48 24.48 1
Are we expecting more or
less
(less) 124 48
48. 0 51£ .
Best Deal Money Management
Deal 1 Deal 2 Deal 3
10 balls
15 balls
48 balls
£5.40 £7.50 £24.48
Deal 2 is Best£0.51 per ball
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Now try TJ3bEx 2
Ch2 (page 15)
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Best Deal Money Management
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Starter QuestionsStarter Questionsw
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1. (-5) - (-6) + 11
2. Calculate 15% of 60
3. What is the perimeter and area
of a square with length 4cm.
4. Find the value of x
3x - 9 = 27
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.ww
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.com Learning IntentionLearning Intention Success CriteriaSuccess Criteria
1.1. Be able to compare Be able to compare deals by calculating deals by calculating over cost.over cost.
1. We are learning to calculate the best deal for service items.
Best Deal Service
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Why would you need to call out a
electrician , joiner , plumber etc.........
Best Deal Service
No Power
Broken front door
Burst Pipe
These types of jobs work for the Service Industry.
They serve the general public.
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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The cost of work carried out by these professionsare broken into two parts:
Best Deal Service
Call out charge : To come out to investigate problem
Hourly rate : Cost per hour worked to completejob.
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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I have a bust pipe in by house. I get two quotesto fix the problem. The job should take 3 hours to fix.
Best Deal Service
Mr Fix -It Easy-job
Call-out Charge
£30 £70
Hourly -rate £32 £20
Who should I pick ?
Mr Fix-It = 30 + 3 x 32 =
Easy-job = 70 + 3 x 20 =
BODMAS £126
£130Mr Fix-It
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Turns out that the job will take 5 hours.
Best Deal Service
Mr Fix -It Easy-job
Call-out Charge
£30 £70
Hourly -rate £32 £20
Who should I pick ?
Mr Fix-It = 30 + 5 x 32 =
Easy-job = 70 + 5 x 20 =
£190
£170 Easy-job
Electrician Job Rate
0 1 2 3 4 5 6 7 8 9 10 T
V
10
20
30
40
50
60
70
80
90
100
Cost
£Time
(hours)
The cost for hiring a electrician per hour is shown in graphical form.
(a) What is his call-out fee
(b) What is his hourly rate.
(c) What is the total cost for a 6 hours job. (0,30)
£30
Total C = 30 + 6 x 10 = £90
£10
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Now try TJ3bEx 3
Ch2 (page 17)
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Best Deal Service
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Starter QuestionsStarter Questionsw
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12. How many degrees in an
8
1. Simplfy the ratio 57 : 19
of a circle
3. I got $250 for £100. How much would I
get for £1.
4. Put in order, smallest first.
0.05, 0.21, 0.01, 0.026
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.ww
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.com Learning IntentionLearning Intention Success CriteriaSuccess Criteria
1.1. Understand and Understand and compare contract compare contract deals.deals.
1. We are learning about best contract deal.
Best Deal Rates & Contracts
2. 2. Be able to choose best Be able to choose best contract deal by contract deal by estimating usage.estimating usage.
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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.com Most people have a contract for there
mobile phone, internet and TV provider
Best Deal Rates & Contracts
Can you name some Providers
Sky, BT, Virgin-Media
etc...
Contracts can be very confusing !
You can save ALOT of money if you do the maths.
Why ?
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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I have just come back from a Holiday in Coney Island New York.I want to convert $500 back to £’s.
Best Deal Rates & Contracts
Exchange Rate
Rate-R-Us 0.85
Super-Rates 0.80
Who gives the best value and by
how much to nearest penny ?
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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(Rate-R-Us) - Proportion method
$ £1.55 1
1
Are we expecting more or
less
(more) 5001
1 55. 332 58£ .
Best Deal Rates & Contracts
Ex. Rate (per £)
Rate-R-Us 1.55
Super-Rates 1.50
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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(Super-Rates) - Proportion method
$ £1.50 1
1
Are we expecting more or
less
(more) 5001
1 50. 333 33£ .
Best Deal Rates & Contracts
Ex. Rate (per £)
Rate-R-Us 1.55
Super-Rates 1.50
Super-Ratesby £0.75
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Ethan wants to put some money into the bank.He has two options.He has £3000 to invest.
Best Deal Rates & Contracts
APR %
Bank of Mr Lafferty 3.5
Bank for Money 3
Who gives the best value and by how
much after one year ?
APR meansAnnual Percentage
Rate
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Best Deal Rates & Contracts
APR %
Bank of Mr Lafferty 3.5
Bank for Money 3
3.5100
x 3000 =£105 x 3000 = £90
Total in Bank £3105 Total in Bank £3090
Best Deal is Bank of Mr Lafferty by
£15
3100
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Best Deal Rates & Contracts
Provider Free minutes
Free Text
Internet Usage
Contract
months
Cost per
month
O4 120 300 Unlimited
12 £9
Talkie 180 500 Unlimited
24 £15
Blue 500 3000 Unlimited
18 £25
V-Mobile 100 5000 Unlimited
12 £30
Foney 1000 Unlimited
Unlimited
12 £40
Below is a typical set of contracts for a mobile phone
Tom uses very little calls or internet but
sends 10 texts a day.What tariff is best ?
Caitlin loves to be online, calls her friend 10 minutes per day and sends 80 texts a day.What tariff is best ?
Paul is always looking for the best deal. He uses 5 minutes per day on calls, 11 texts per day
and lots of online searches.
What tariff is best ?
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Now try TJ3bEx 4
Ch2 (page 19)
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Foreign Currency
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Starter QuestionsStarter Questionsw
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.com The answer to the question is
60
Write down as many questions as you can
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.ww
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1. We are learning about Credit & Debit Cards.
1. Understand the key differences between Debit and Credit Cards.
Credit & Debit Credit & Debit CardsCards
21 Apr 2023Created by Mr. Lafferty Maths
Dept.ww
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Buying with with your money
Credit & Debit CardsThey look the same
But they work very
differently !
Buying with the banks money
Normally no charge% charge each month on burrowed money
Not insured for transactions online
Insured for transactions online
In pairs discuss the good and bad points of
each.
Very easy to get into serious debit
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Best Deal Rates & Contracts
Example : During one month, John owes £2000 on his Credit Card at an APR of 30%.
APR meansAnnual Percentage Rate
(a)Assuming he does not buy anything more with his credit card, how much will he owe the bank at the end of the month.
2.5100
x 2000 = £50 Total now owed = £2050
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr.Lafferty Maths DeptCreated by Mr.Lafferty Maths Deptww
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Best Deal Rates & Contracts
(b) Assuming he does not buy anything during the restof the year with his credit card and does not pay anything off, how much will he owe the bank at end of the year.
30100
x 2000 = £600
Total now owed = £2600
True value nearer
£2689.78
Do you think this is
correct ?
OR 12 x 50 = £600
MNU 3-09a
21 Apr 202321 Apr 2023 Created by Mr. Lafferty Maths Dept.Created by Mr. Lafferty Maths Dept.
Now try TJ3bEx 5
Ch2 (page 21)
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MoneyMoneyHave you updated
your Learning Log ?