Money
www.mathsrevision.com
National 4
NUM 1.2
Revision of Percentages
Profit and Loss
Hire Purchase
Building & Contents Insurance
Life Insurance
Foreign Exchange
Percentage Profit
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Starter Questions
National 4
NUM 1.2
www.mathsrevision.com
1.
Calculate 1200  300
75
200
2.
Simplify
3.
Find 10% of 65
4.
Find 2 numbers that multiply to give 21
and add to give 10.
28-Jul-17
Compiled by Mr. Lafferty Maths Dept.
Percentages (Revised)
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
1. To revise some basic
percentages.
Success Criteria
1. To know the basic
percentages.
2. Calculate basic percentage
without a calculator.
28-Jul-17
Compiled by Mr. Lafferty Maths Dept.
Percentages (Revised)
National 4
NUM 1.2
www.mathsrevision.com
Remember from previous section you know learn these !
100%
1
50%
1
2
1
33 %
3
1
3
2
66 % 20%
3
2
3
1
5
40% 60% 80%
2
5
3
5
10% 30% 70%
1
10
28-Jul-17
Compiled by Mr. Lafferty Maths Dept.
3
10
7
10
4
5
90%
9
10
Percentages (Revised)
National 4
NUM 1.2
www.mathsrevision.com
Q.
Find 30% of £40
3
 40
10
40 ÷ 10 x 3 = 12
28-Jul-17
Compiled by Mr. Lafferty Maths Dept.
Percentages (Revised)
National 4
NUM 1.2
www.mathsrevision.com
Q.
Find 75% of £600
3
 600
4
600 ÷ 4 x 3 = 450
28-Jul-17
Compiled by Mr. Lafferty Maths Dept.
Percentages (Revised)
www.mathsrevision.com
National 4
NUM 1.2
Now try Exercise 1
Ch15 (page 180)
28-Jul-17
Compiled by Mr. Lafferty Maths Dept.
Starter Questions
National 4
NUM 1.2
www.mathsrevision.com
Q1. 0.5 + 5 x 8
Q2. Multiply out the brackets and simplify
2 - 6(x - 3)
Q3. Find g when
28-Jul-17
7 - g  32
Created by Mr. Lafferty Maths Dept.
Profit and Loss
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
1. To understand the
terms profit and loss.
Success Criteria
1. To know the meaning of
the terms PROFIT and
LOSS.
2. Apply knowledge to
calculations.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Profit and Loss
www.mathsrevision.com
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
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Profit and Loss
www.mathsrevision.com
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
28-Jul-17
£5.50 - £4.00 = £1.50
Created by Mr. Lafferty Maths Dept.
Profit and Loss
www.mathsrevision.com
National 4
NUM 1.2
Now try Ex 2
Ch15 (page 182)
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Hire Purchase
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
1. To understand the
terms Hire Purchase.
Success Criteria
1. To know the meaning of the
terms HIRE PURCHASE.
2. Apply knowledge to
calculations.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Starter Questions
www.mathsrevision.com
National 4
NUM 1.2
Q1. Expand out 2j (k – 5g + 4jk)
Q2. Find all the missing angles
Q3. Find m when
28-Jul-17
25o
55 = 13 - 14m
Created by Mr. Lafferty Maths Dept.
Hire Purchase
www.mathsrevision.com
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.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Hire Purchase
National 4
NUM 1.2
www.mathsrevision.com
Buying Products
Hoover Cash Price £120
or
by H.P. £30 deposit + 12 Payment £8.50
How much more do you pay by using Hire Purchase
Total H.P. price = £30 + 12 x £8.50 = £132
Difference in price = £132 - £120 = £12
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Loans & Hire Purchase
National 4
NUM 1.2
www.mathsrevision.com
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 = £420.60 - £365.50 = £55.10
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Hire Purchase
www.mathsrevision.com
National 4
NUM 1.2
Now try Ex 3
Ch15 (page 185)
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Starter Questions
www.mathsrevision.com
National 4
NUM 1.2
Q1. Expand out 2a (a – c + 4ab)
Q2. Find the missing angle
Q3. Find g when
28-Jul-17
7 + 8g  23
Created by Mr. Lafferty Maths Dept.
22o
House & Contents Insurance
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
Success Criteria
1. To explain the how to
calculate building and
contents insurance for a
house.
28-Jul-17
1. Why we have house building
insurance.
2. Calculate the value of
building and content
insurance given the value
of the house and contents.
Created by Mr. Lafferty
Maths Dept
House & Contents Insurance
Roof, walls,
floor etc...
www.mathsrevision.com
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.
28-Jul-17
Created by Mr. Lafferty
Maths Dept
House & Contents Insurance
www.mathsrevision.com
National 4
NUM 1.2
28-Jul-17
Items
Charge
Building per £1000
Contents per £1000
£0.73
£3.57
Created by Mr.Lafferty Maths Dept
House & Contents Insurance
www.mathsrevision.com
National 4
NUM 1.2
Example 1 : How much is the House Insurance for a
house valued at £40 000.
Value
£1 000
£40 000
28-Jul-17
Premium
(cost of Insurance)
£0.73
40 000
£0.73 

1 000
Created by Mr. Lafferty
Maths Dept
£29.20
House & Contents Insurance
www.mathsrevision.com
National 4
NUM 1.2
Example 2 : I decided to increase my insurance from
£40 000 to £50 000 cover.
How much more did it have to pay.
Premium
Value
(cost of Insurance)
£1 000
£10 000
28-Jul-17
£0.73
10 000
£0.73 

1 000
Created by Mr. Lafferty
Maths Dept
£7.30 more
House & Contents Insurance
www.mathsrevision.com
National 4
NUM 1.2
Example : How much for Buildings insurance and
contents insurance if a house is valued at £80 000 and
contents are valued at £5 000.
80 000
Buildings insurance : £0.73 
= £58.40
1 000
5 000
= £ 17.85
Contents insurance : £3.57 
1 000
Total : £76.25
28-Jul-17
Created by Mr. Lafferty
Maths Dept
Household Insurance
www.mathsrevision.com
National 4
NUM 1.2
Now try Ex 4
Ch15 (page 188)
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Starter Questions
www.mathsrevision.com
National 4
NUM 1.2
1. Calculate 100 x 4.5
2. Expand
5(4a + 7) - 9a
3. Write down factors that affect life insurance.
28-Jul-17
Created by Mr. Lafferty
Maths Dept
Life Insurance
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
Success Criteria
1. To calculate Life
Insurance from a table of
values taking account
various factors.
28-Jul-17
1. Read information from a
chart.
2. Calculate Life Insurance
taking in various factors.
Created by Mr.Lafferty Maths Dept
Life Insurance
www.mathsrevision.com
What factors
Age,
affect the
Male or Female,
National 4
cost of Life
smoker
NUM 1.2
Insurance
or Non- smokerTable shows monthly premiums.
The sum assured is £10000
(with Profits)
for the term 20 years.
Age
Male
smoker
Female
smoker
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
28-Jul-17
Male
Female
non-smoker non-smoker
Created by Mr.Lafferty Maths Dept
Life Insurance
www.mathsrevision.com
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
non-smoker
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 £150 000 to her
dependants should she die. What is her monthly premium and
how much will she pay over 20 years.
28-Jul-17
Created by Mr.Lafferty Maths Dept
Life Insurance
www.mathsrevision.com
National 4
NUM 1.2
Monthly premium = 150000 ÷ 10000 x 0.66 = £9.90
Total paid over 20 years = £9.90 x 12 x 20 = £2376
28-Jul-17
Created by Mr.Lafferty Maths Dept
Life Insurance
www.mathsrevision.com
National 4
NUM 1.2
Now try Exercise 5
Ch15 (page 191)
28-Jul-17
Created by Mr.Lafferty Maths Dept
Starter Questions
National 4
NUM 1.2
www.mathsrevision.com
Q1. Expand out 2a (a – c + 4ab)
Q2. Find two missing angles
32o
Q3. Find y
20y =100
Q4. The answer is 45. What is the question.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Foreign Exchange
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
1. To explain how to convert
£’s to another currency
and vice versa.
Success Criteria
1. Be able to convert £’s to
another currency.
2. Be able to convert back to £’s.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Currency Exchange
National 4
NUM 1.2
www.mathsrevision.com
Converting to a foreign currency
£
x
exchange
rate
Foreign
currency
Converting back to £’s
£
÷
exchange
rate
Created by Mr. Lafferty
Maths Dept
Foreign
currency
Foreign Exchange
National 4
NUM 1.2
www.mathsrevision.com
Think The currency in most of Europe is the euro €
going on
The exchange rate is approximately
holiday !
£1

1.54 €
Converting £’s to Euros € simply multiply
(a)
28-Jul-17
To change £80 to euros
Created by Mr. Lafferty Maths Dept.
80 x 1.54 = 123.20 €
Foreign Exchange
www.mathsrevision.com
National 4
NUM 1.2
Now try Ex 6 Q1 to Q5
Ch15 (page 193)
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Foreign Exchange
National 4
NUM 1.2
www.mathsrevision.com
Coming back from holiday we want to do the opposite
i.e. euros to £’s
Think
The exchange rate is approximately
back from
£1 
1.54 €
holiday !
Converting Euros €’s to £’s simply divide
To change 616 € to £’s
28-Jul-17
Created by Mr. Lafferty Maths Dept.
616 ÷ 1.54 = £400
Foreign Exchange
www.mathsrevision.com
National 4
NUM 1.2
Now try Ex 6 Q6 to Q12
Ch15 (page 194)
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Starter Questions
National 4
NUM 1.2
www.mathsrevision.com
Q1. Write down the main steps involved
when solving a problem involving
Pythagoras.
Q2. Find 30% of £400.
10cm
Q3. Find the area of the shape.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
8cm
Calculating Percentages
Percentage Increase / Decrease
www.mathsrevision.com
National 4
NUM 1.2
Learning Intention
1. To understand how to
calculate percentage
increase / decrease.
Success Criteria
1. To understand how to
calculate percentage
increase / decrease.
2. Solve problems in context.
28-Jul-17
Created by Mr. Lafferty Maths Dept.
Calculating Percentages
Percentage Increase / Decrease
www.mathsrevision.com
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
2
=
× 100
% increase =
original pay 20
28-Jul-17
Created by Mr. Lafferty Maths Dept.
= 10%
Calculating Percentages
Percentage Increase / Decrease
www.mathsrevision.com
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
8
=
× 100
% increase =
original pay 20
28-Jul-17
Created by Mr. Lafferty Maths Dept.
= 40%
Percentage Profit
www.mathsrevision.com
National 4
NUM 1.2
Now try
Extension Booklet
2E (page 79)
28-Jul-17
Created by Mr. Lafferty Maths Dept.