Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Unit 1: Department Unit Pricing and Currency Exchange. Goals: In the workplace and your daily life, you will need to make decisions about what to buy and how to pay the best price for it. In this unit you will use some familiar mathematical concepts such as: Fractions Percentages Rate Ratio in some new contexts. You will apply these mathematical ideas to Learn how to determine the best buy for a purchase, considering quality and quantity as well as the unit price Investigate sales promotions and compare their effects Calculate percentage increase/decrease Convert Canadian dollars into a foreign currency and foreign currencies into Canadian dollars. Key Terms: You will be able to define and use the following terms: S.Duffy Buying rate Rate Exchange rate Ratio Markup Selling price Promotion Unit price Proportion Unit rate Page 1 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Unit 1.1 Department Proportional Reasoning. In this outcome you will learn to apply your knowledge of ratios in new areas. Ratio: is a comparison between two numbers with the same units. Since the units are the same you can omit them during your calculations, but remember to include them in your solution. A ratio can be written in several different ways 1. Canucks win 3 out of 4 games or 3:4 or 3 to 4 2. Two out of three teenagers saw The Phantom Menace or 2:3 or 2 to 3 The quantities in a ratio are called the terms. S.Duffy Page 2 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf When working with ratios simplify them first Department 20:50 can be simplified to 2:5 by ÷ each term by 10 ÷ 10 20 : 50 ÷ 10 2:5 The two ratios 20:50 and 2:5 are called equivalent ratios. Proportion is a fractional statement of equality between two ratios or rates. The fractional equation = is referred to as a proportion Example 1: Steven’s soccer team played 16 games and won 12 of them. Express the number of games won to the number of games played as a ratio in its simplest form in three ways. S.Duffy Page 3 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 2: Department Sam is looking for posters to cover the walls of his room. He finds one poster that is 50cm by 50cm. He finds another one that is 21cm by 67cm. a) Find the area of each of the posters. (Hint: A = lxw) b) Compare the area of the first poster to the area of the second poster by estimating your answer first. S.Duffy Page 4 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 3: Mark wants to mix a new shade of paint. He needs 3 parts blue to 1 Department part green. a) How many parts are there altogether? b) If mark mixes 10 portions of green paint how many portions of blue will he need? c) How many portions of green paint will mark use if he mixes in 12 portions of blue paint? S.Duffy Page 5 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 4: Department A faller at a logging station needs to refuel his chainsaw. The ratio of gasoline to oil that is needed is 40 parts gasoline to 1 part oil. The chainsaw’s fuel tank holds 8 litres of gasoline, how many litres of oil should be added to obtain the correct ratio? Example 5: Brian a builder has found that he can arrange the work cubicles of his employees best if the ratio between the length and the width of a room is 3:2. If a room is 6m long, how wide should the room be? S.Duffy Page 6 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Rate: is a comparison between two numbers with different units. Department Here are some examples of rates o The number of words you can type per minute. o The number of hamburgers a concession stand sells in one day. o The price of lumber per linear foot. o The price of stone per kilogram. A rate can be expressed using the same notation as ratio. Since the units are different in each term they must be used. Example 6: A salmon in the fishmongers is on sale at $1.89 for 100grams. Write this rate in three different ways. Example 7: Terry wants to buy 250 grams of this salmon, how much will it cost her? S.Duffy Page 7 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 8: A local plumbing store sells 100 copper- plated pipe straps for $4.97. Department You have estimated that you need 75 straps, how much will they cost you? Complete notebook assignment S.Duffy page 21 # 1-8 Page 8 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Department Puzzle it out !!!! What is a Magic 3x3 Square? _____________________________________________________ _____________________________________________________ _____________________________________________________ Can you assemble the numbers 1 to 9 in the square using each number only once, so that the sum of the rows, the columns, and the diagonals adds up to 15. 1 2 3 4 5 6 7 8 9 5 S.Duffy Page 9 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Department Magic Proportions ! C Can you assemble the numbers 0 to 8 in the square using each number Conly once so that the columns add up in the ratio 1:2:3 0 1 2 3 4 5 6 7 8 22 S.Duffy Page 10 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Unit 1.2 Department Unit Price. Ma In this outcome you will learn to compare the cost of items to determine the best buy using the unit price. Unit Price: is the cost of one unit, or a rate expressed as a fraction where the denominator is 1. Unit Rate: is the rate or cost for one item or unit. Comparing unit prices can save you money; however it’s not the only factor to consider when buying in bulk. You may prefer to consider quality over quantity. Example 1: Rosa buys supplies for her office in Langley where she works as a clerk. She wants to buy pens. The supplier sells a box of 12 pens for $6.25. Calculate the unit price of 1 pens. S.Duffy Page 11 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 2: Department Claire picks fresh strawberries at the farm. If she fills a pint basket (0.5506 Litres) it will cost her $1.50. If she fills a 4 Litre pail it will cost her $9.00. Which size of container will give her a better buy? Complete notebook assignment S.Duffy page 26-27 # 1-6 Page 12 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Unit 1.3 Department Setting a Price. In this outcome you will learn that the price at which goods and services are sold depend on whether you are a consumer or working in a business. Prices rise and fall due to consumer demand and supply: If demand rises suppliers are able to charge more. If demand falls or if there is a large supply of a product, prices may fall. Prices also rise and fall according to the cost of materials and labour that go into the creation of a product or service. Markup: is the difference between the amount a dealer sells a product for and the amount he or she paid for it. It is added to the cost so that a profit can be made. When a business owner buys items for resale he or she buys them at a wholesale price. This price is then marked up and the item sold at a higher retail price. S.Duffy Page 13 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf This markup is usually a percent of the wholesale price. Department Percent: means out of 100 When setting prices for goods and services psychological factors also have an impact on buyers. Why do retailers advertise items at $39.95 instead of $40.00?______________________________________ ____________________________________________ Remember Taxes also need to be added to arrive at a final price. All Canadians pay 5% Federal Goods and Service tax (GST) Most provinces also charge Provincial Sales Tax (PST) which varies from province to province. The 5 highlighted provinces in the table below charge a Harmonized Sales Tax (HST). This sales tax replaces GST and PST. The northern territories do not charge a provincial tax. S.Duffy Page 14 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Department Province PST % GST % HST % Alberta 0 5 5 British Columbia 7 5 12 Manitoba 7 5 New Brunswick 8 5 13 Newfoundland and Labrador 8 5 13 Nova Scotia 10 5 15 Ontario 8 5 13 Prince Edward Island 10.5 5 15.5 Quebec 7.5 5 12.5 Saskatchewan 5 5 10 Use this table to solve problems including taxes. S.Duffy Page 15 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 1: Arlene purchases fabric at a wholesale price for her custom sewing Department business. She pays $46.00 / m. She charges a markup of 20% on the fabric. What will Arlene charge her clients per metre? Example 2: A furniture store in in Saskatoon is selling a bedroom suite for $1599.00. What will the total cost be including taxes? Complete notebook assignment S.Duffy page 32-33 # 1-7 Page 16 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Department Unit 1.4 On Sale. In this outcome you will learn about the different types of sales promotions which offer better deals and ultimately attract buyers. When you go shopping, you often see something is on sale for a discounted price usually represented by percentages. eg. 20% or 50% off. o This may be because: The clothes could be out of season or out of fashion. The store could have ordered more than they could sell. A Promotion: is an activity that increases awareness of a product or attracts customers. Businesses may use other promotions to attract buyers: o Coupons usually give you an amount off the retail price usually used to promote a new product or line. o In store card point systems allow customers to participate in rewards programs and encourages them to remain loyal to their store. o BOGO promotions: Buy one get one free Buy two get one half price S.Duffy Page 17 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 1: Jonas needs to buy a new winter jacket. He saw one he liked three Department weeks ago for $249.95. It is now in the sale and discounted by 20%. How much will the jacket cost if Jonas lives in Nunavut where there is no PST Example 2: A fisher sells fresh salmon, live crabs and prawns at the dock in Steveston, BC on Saturdays and Sundays. As the weekend winds down he needs to sell off his stock or it will spoil. He has a sale ! He offers 20% off all his regular prices. Salmon is regularly $18.50/kg and prawns are $34.50/kg. At a 20% discount what is the price of a) 3kg of salmon? S.Duffy b) 500g of prawns? Page 18 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Percedntage Increase/Decrease is calculated using the following Department formulas. o Percentage Increase = x 100 % o Percentage Decrease = x 100 % o Profit: an increase in value. o Loss: a decrease in value. Example 3: Sarah bought a house in 2009 for $200,000. She was thinking of selling in 2010 and her Real Estate Agent valued her property at $250,000. If Sarah was to sell her house this year what would be her percentage profit? S.Duffy Page 19 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 4: Peter bought a car 3 years ago for $25,000. He sold it this year for Department $12,000. What was Peter’s percentage loss? Complete notebook assignment S.Duffy page 37-38 # 1-6 Page 20 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Unit 1.5 Department Currency Exchange Rates. In this outcome you will become familiar with the different currencies used in different countries around the world and perform calculations to exchange money into different currencies. Currency: is the system of money a country uses. Currency is exchanged in: o Banks o Currency exchange companies o Travel agencies Not all currencies are available at every exchange and you may have to order it in advance so you need to plan ahead. Since banks and currency agencies charge a fee called commission usually around 1-3% it is best to shop around to get the best deal. Exchange Rate : is the price of one country’s currency in terms of another nation’s currency. S.Duffy Page 21 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf The exchange rate between two countries like Canada and Japan is used to calculate how many dollars you need to convert to yen.Department The exchange rate fluctuates from day to day and from one currency exchange agency to another. The Exchanges set a selling rate and a buying rate for currency and these rates are different from one another. Selling Rate: the rate at which a currency agency sells money to its customers. o If you plan to go to Italy and need to obtain euros from your bank you will pay the selling rate as the bank is selling the euros to you. Buying Rate: the rate at which a currency agency buys money from customers. o If you have euros left over when you return to Canada you will receive the buying rate to change them back into Canadian dollars as the bank is buying them from you. When travelling in a foreign country it is often helpful to estimate what something costs in your own currency to help you compare prices. S.Duffy Page 22 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Use the table of exchange rates on page 45 to answer the following questions. Department Example 1: Maria is planning a trip to Denmark. The unit of Danish currency is the krone. The plural of krone is kroner. She has $500.00 CAD spending money. How many kroner will she receive? S.Duffy Page 23 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Example 2: Department After purchasing her Kroner Maria finds out she is unable to travel due to an unforeseen accident. She needs to sell her kroner back to the bank. a) How many $CAD will she receive? b) How much money will she lose? S.Duffy Complete notebook assignment page 47-48 # 1-6 Complete Unit 1 Review page 50-51 # 1-10 Page 24 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf Department Reflect on your learning Now that you have completed this unit check the box that applies to you RED AMBER GREEN I understand all the key terms. I can apply ratios and rates in new contexts. I can calculate unit price. I can determine the best buy. I can calculate sales discounts and promotions using %. I can calculate % increase and % decrease. S.Duffy Page 25 Mathematics Apprenticeship and workplace Math 10 St.John Brebeuf I can exchange both foreign Department currency into $ and $ into foreign currency. I have completed all homework assignments. I have completed my Project “Party Planner” I have attended lunchtime tutorials for extra help. I am ready to sit my unit 1 test. Target: In my Unit Test I hope to achieve Student’s Signature ____________________ S.Duffy % Date__________ Page 26
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