TOPIC
21 Money
Strand: Measures
Strand unit: Money
Curriculum Objectives
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Explore value for money.
Convert other currencies to euro and vice versa.
Solve problems relating to VAT.
Looking back: What the 5th class programme covered
1. Compare ‘value for money’ using unitary method.
2. Calculate pay based on hourly and daily rate.
3. Calculate totals of shop bills.
Maths skills used in this topic
1. Applying and problem-solving: Plan and implement solutions to problems in a variety of
contexts.
2. Communicating and expressing: Communicate and express mathematical ideas, processes
and results in oral and written form.
3. Integrating and connecting: Make mathematical connections within mathematics itself,
throughout other subjects, and in applications of mathematics in practical everyday contexts.
4. Reasoning: Reason systematically in a mathematical context.
Concrete materials
Calculators, catalogues, price lists, current foreign currency exchange rate, supermarket price
flyers, newspaper advertisements of large electrical goods for sale including VAT, examples of bills
and receipts including VAT, discount store catalogues, internet shopping pages, bank statements,
pictures or examples of different currencies (US dollars, Canadian dollars, yen, etc.)
Vocabulary
Bill, supermarket flyers, price difference, least price difference, greatest price
difference, VAT (value added tax), price including VAT, price excluding VAT, convert
euro, currency, foreign currencies, budget, budgeted, estimated cost, actual cost,
exchange rate, sterling, dollar, South African rand, yen
Teaching points
1. Children generally enjoy the topic of money in maths as it is something that is close to their
hearts! In their everyday lives, they are familiar with buying items and receiving change. In
this chapter, we extend this ability to the real-life maths world, where bills for services are
laid out in a particular way to include VAT. The unitary method shows the children how to
calculate the price of an item when the prices of multiples are given. Price comparisons can
then be made with confidence.
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2. The children will eagerly embrace the idea of converting currencies and this is an important
life skill.
Oral and mental activities
Fans:
Jack earned €20 and he got a 10% tip, how much was the tip? Repeat with different numbers,
using the common percentages (10%, 20%, 25%, 50%, 75%) to give the children confidence in
using the numbers.
Target board 7:
Show each mixed number as euro and cents.
Target board 5:
If the whole number is €10, show what amount each fraction, decimal or percentage is worth.
Topic suggestions
1. Introduce the children to real-life maths by getting them to lay out bills for services or
purchases (with VAT). Show them how to calculate subtotals and then how to find the overall
total. They can progress to buying multiples of certain items which will also give practice at
the operation of multiplication. In reverse, the children can be given the cost of multiples of a
certain item and they have to calculate what a single item would cost.
2. Finding the best value is a skill which most children would not find onerous. In real life, they
would have become adept at finding bargains and good value. In approaching the unitary
method, the children are applying a mathematical basis to price comparisons, i.e. ‘Which
one gives me the best value?’
3. Children love currency conversions. They could plan a gap-year trip which involves using 6
different currencies. They could calculate how much of the 6 different currencies they would
get for €500.
Activity A
1.
2.
3.
4.
5.
6.
7.
8.
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What symbol represents the US dollar? ($)
What is the symbol for the Japanese currency? (¥)
What is the symbol for British pound sterling? (£)
Mary had €1,000 prize money. She bought a flat screen TV. She had €531.71 change.
How much did the TV cost? (€468.29)
What is the main currency of the European Union? (€)
The teacher brings a class of 32 children to the museum by bus. The bus fare costs €20.80
for all the children. How much does each child pay? (€0.65)
€2,882.03 x 2 = _______. (€5,764.06)
Tom earned €16. He got a 12 12 % tip. How much was the tip? (€2)
Differentiation
Lower attainers:
Separate activity sheet
Higher attainers:
Separate activity sheet
Topic
Topic
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1. (a) Find the difference between €56,896.58 and €6,742.96 _____________
(b) Find the sum of €46,342, €1,043 and €132,986
(c)
6
20
of €60
_____________
(d) €32,935 x 6
454g butter
litre of full fat milk
1. Pair Work – Compare Supermarket Prices
_____________
Using the internet and supermarket flyers, compare and contrast
_____________
the following shopping list from four different supermarkets:
(e) €39,420 x 58 _____________
(f) €29,347 x 96 _____________
(g) €938.26 x 16 _____________
(h) €423.84 x 27 _____________
1kg sugar
250kg tea
500g cornflakes
jar of marmalade
(a) Which shop is the (i) cheapest (ii) dearest for each item? ______________, ______________
(b) What is the (i) greatest (ii) least price difference (a) per item (b) per total bill?
2. Which is the best value for pens:
5 for €1.50,
6 for €1.80
______________, ______________, ______________, ______________
7 for €1.40? _____________
or
(c) Imagine there is a 10% sale on each item. What will the total cost of all six items then?
______________
3. Calculate the following bills:
(b)
(a)
3 bags of sugar
6 pairs of socks @
€2.38 a pair
@ €1.25 per bag
19 apples @ 42c
s @ 84c a pack
4. (a) Donal wants to buy a computer on the internet for $1,800. He has €600 saved up for it. How
Total: _______
Overall Total: _______
Fortnightly car hire €700 (14 days)
3. I am organising a party. I want to buy lots of fizzy drinks. Which works out cheapest – buying lots
of 2 litre bottles for €2.80, 500m¬ bottles for 95c or 250m¬ bottles for 55c? ______________
3 packs of biscuit
.
3 ties @ €4 60 per tie
Weekly car hire (7 days) €378
(a) What is the difference between the cheapest and dearest rental per day? _____________
(b) If you want to rent for ten days, which is the cheapest option? ______________________
per apple
@ 38c per tin
8 tins of beans
.
7 shirts @ €5 90 a shirt
4. One night rent a movie €2.50
2. Daily car hire €60
much more euro will he need to save to buy the computer? (Use the exchange rate on page 134)
______________
(b) While Geraldine was on holidays in London she used her credit card to do some shopping.
She bought jeans for £35, DVDs for £28, two dresses for £70 and £86, and a book for £9.00.
Three nights rent a movie €6 Weekly rent a movie €10.50
How much in euro did each cost? (Use the exchange rate on page 134) _______________
(a) The difference between the cheapest and dearest rental per night? _____________
(c) A super-zoom digital camera costs €450 in Rome, US$520 in Boston, CAN$598 in Montreal
(b) If you want to rent a movie for six nights, which option would be the cheapest? ____________
and AUS$700 in Australia. (Use the exchange rate on page 134)
(i) Convert all the prices to euro. _______________
5. The following are prices of items before VAT at 20%. What is the price of these items
(ii) Which city is the cheapest for the camera? _______________
including VAT at 20%?
(c) Hairdryer €18 _____________
(d) Digital Camera
€258 _____________
(iv) What is the difference between the most expensive and cheapest camera? ____________
(e) Tripod
€46 _____________
(f) Extension lead
€15
(g) DVD
€14 _____________
_____________
6. VAT – A cooker costs €680 plus 20% VAT. What is the total cost of the cooker? ______________
Name: _______________________________________
Date: ___________________
(v) A national newspaper will buy 8 of these super-zoom cameras. If they buy in the cheapest
city, what savings will they make as opposed to the most expensive? _______________
5. The Hoyt family pay the equivalent of €1,500 to go on safari in South Africa. How many ZAR
(South African Rand) will they get for their euro? _______________
(€1 = 10.5 South African Rand)
Name: _______________________________________
Date: ___________________
© Folens Photocopiables
(iii) In which city is the camera most expensive? _______________
€240 _____________
© Folens Photocopiables
(b) Computer hard drive €125 _____________
(a) Ipod
Linkage
Number: Operations (addition, subtraction, multiplication division), decimals, fractions,
percentages
Integration
SESE Geography: Countries and their currencies (including African countries, South American
countries, Asian countries), developed countries and developing countries. The euro and its
history, European countries that do not have euro, the advantages and disadvantages of the euro,
studying currency conversion rates and exchange rates
Business/Finance: Credit cards, debit cards, shop loyalty cards, laser cards, stock exchange, the
tax system, why adults pay tax, pay, percentage of pay to pay different taxes, looking at a mock
payslip to see where the deductions go
SESE History: History of money, bartering, Roman and Greek money, architectural finds of money
in Ireland, Britain and Europe
Music: ‘Money Makes the World Go Around’ – Liza Minnelli; ‘Money, Money, Money’ – Abba;
‘Can’t Buy Me Love’ – The Beatles; ‘You’ve Gotta Pick a Pocket or Two’ – Oliver the Musical
Art: Designing new euro notes and coins
Maths at home/parental involvement
1. Discussing different currencies and countries.
2. Ask an older relative do they have any old Irish currency, i.e. notes and coins. Examine
size, colour, material, weight, design, artwork, symbols used, graphics, etc.
3. Calculate bills, e.g. plumber, mechanic, electrician to include parts, labour and VAT.
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