Learning objectives
Apply mathematics to money, shopping, saving and simple interest.
By the end of this course, you should be able to explain the key ideas, use the methods and answer practice questions.
Lesson notes
Money calculations
Add prices to find a total and subtract to calculate change. Example: £10 − £6.75 = £3.25.
Budgeting
A budget compares money coming in with money going out.
Profit and loss
Profit = selling price − cost price. A loss occurs when the selling price is less than the cost price.
Discount
A 10% discount on £30 is £3, so the sale price is £27.
Simple interest
Simple interest = principal × rate × time. Check that the rate and time use matching units.
Worked example
A £50 item with a 20% discount is reduced by £10. The sale price is £40.
Practice quiz
Enter an answer for each question. Then select Check answers. For fractions, use forms such as 1/2.