Australian Curriculum Money: Book 3

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© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

TEACHERS NOTES

YEAR

5

Create simple financial plans (ACMNA106)

INTRODUCTION At this level, most students would have an understanding of our money system and our notes and coins. Building on from this, students will be asked to look at and question money, finances and the use of budgets. Students will see a variety of financial plans and budgets that are used to help people manage and control their money. They will discuss what a budget is, how it can be used and for what purpose. Students will look at simple budgets and will have the opportunity to set up a individual and group budget in order to assess its usefulness.

Students will be asked to question how and why shops still use amounts that do not end in zero or five cents and what happens to these amounts at the cash register.

Demonstrate how prices are rounded up or down to the nearest five cents as we no longer have one and two cents coins in Australia. Show students how cash registers, calculators and computers are used to add, subtract, multiply and divide monetary amounts. Give students the opportunity to solve many different money problems using both written methods as well as digital technologies.

discount. Introduce and define the term GST (Goods and Services Tax), what it is and why we have it in Australia.

Instruct students to look at receipts and invoices with GST and see how much GST is included on items. Explain what items do not have GST on them and why. Give students a list of goods and ask them to calculate the 10% GST on them. Discuss whether the GST can change. Explain that if a new government is elected or the country needs to collect more tax then the GST may increase.

Links to other areas of the curriculum Humanities and Social Sciences: Create a class project where the class can raise money for a charity group.

Investigate and plan who they will raise the money for, how they will raise it—for example, a walkathon; a trashand-treasure or a cupcake stall—and what profit they hope to achieve and donate in the end. Work out a budget which can be used to help them raise the money.

Introduce the concept of the Goods and Services Tax (GST) which we have in Australia. Explain what it is and how it is calculated. Allow students to identify the GST component of invoices and receipts. As most GST is 10% talk about percentages and how they relate to money.

Instruct students to calculate 10% off various amounts and solve problems involving the use of percentages while making connections between equivalent fractions, decimals and percentages.

English: © R. I .

C.Pu bl i cat i ons Creating a budget •f orr evi ew pur posesonl y•

Look at the words associated with a budget and define them; e.g. budget, profit, loss, GST, income, expenses, rewards, costs, needs, wants etc.

Make a list of words that can be abbreviated such as GST and discuss why we abbreviate words like this.

Look at some examples of budgets and interpret them. Imagine you need to set up a class fundraiser.

Demonstrate to students how they would set up a budget to work out how much they need to raise. Explain that when setting up a budget you need to account for all costs and be able to estimate how much money will be coming in and going out. Discuss and demonstrate how a budget is a useful tool to set up and use for a number of reasons. It can help you save for something, work out how much you spend or calculate how much you can get as a return for goods or a service. Working in groups, plan an event including a budget which allows for expenses and profit involved in a fundraising event. Use a written method to budget as well as looking at other options available through the internet such as a spreadsheet program like Excel®. Assist students to set up their own individual budget, keeping account of money they have coming in as well as expenses they may have over a set time frame, such as one month. Give students the opportunity to set up their budget on a computer using a basic spreadsheet. This will give them an insight into how they use their money and if they need to reconsider how much they save or spend.

Technologies: Look at methods for creating budgets using the computer. For example, tables can be used in a word document. Spreadsheets can be created using Excel®. Look at examples of budgets using the internet.

Trial a simple budget using some of the following tools on the computer. <www.mathsisfun.com> – Money—personal budget <www.simpleplanning.com> – Reading and looking at how to set up simple budgets.

View the ABC’s Behind the news story ‘GST changes’ and discuss and answer questions about the GST such as: • what is tax and what is it used for?

• what does GST stand for?

• what percentage of GST do we currently pay in Australia?

• name some products that do not have GST. • name some products that do have GST. • what changes could the government make to GST in the future?

Identifying and calculating GST Demonstrate to students how to relate money (decimal numbers) to fractions and percentages. Show them how to calculate 10% of a given amount in order to find a

2 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

© R. I .

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TEACHERS RESOURCES

YEAR

Rounding up or down

5

In Australia our smallest coin is five cents, therefore all amounts paid in cash need to be rounded up or down to the nearest five cents. The rules are: • amounts ending in 0c or 5c do not change • amounts ending in 1c or 2c are rounded down to the nearest 0c; e.g. 42c = 40c • amounts ending in 3c or 4c are rounded up to the nearest 5c; e.g. 64c = 65c • amounts ending in 6c or 7c are rounded down to 5c; e.g. $2.87 = $2.85 • amounts ending in 8c or 9c are rounded up to the nearest 10c; e.g. $1.29 = $1.30 For each amount, tick the box to show whether it needs to be rounded up, down or remain the same.

Find and add five more prices from a catalogue.

Amount

Round up

Round down

Remain the same

$12.67 0.78 $4.99 $6.17 $36.92 $90.13 $86.45 $37.81 $105.63 $712.90

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$264.58 $509.34 $890.79 $418.25 $675.43 $210.57 $946.80 $2533.94 $1286.11 $3684.92

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ISBN 978-1-925431-18-6

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TEACHERS RESOURCES

YEAR

Example of a budget for a fete stall/activity

5

Stall holders:

Activity/stall description:

Amount to be charged for the activity:

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C.Publ i cat i ons Materials needed: •f orr evi ew pur posesonl y•

Costs required:

Estimated profit for 100 sales (after expenses):

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ISBN 978-1-925431-18-6

TEACHERS RESOURCES

YEAR

Example of a personal budget—Bridget Date

Balance

01/02/16

$483.50

02/02/16

Money in (savings)

$10.00

5

Money out (expenses)

(pocket money) $6.50

03/02/16

(lunch)

04/02/16 05/02/16 06/02/16

$4.00

(nail polish)

$12.00

(new book)

$100.00 (birthday money)

07/02/16 08/02/16 09/02/16

$10.00

(pocket money)

10/02/16

$4.00 (ice-cream)

11/02/16 12/02/16 13/02/16 14/02/16 15/02/16

$5.00 (walking the dog)

$5.00 © R. I .

C.Publ i cat i on s $2.00 •f orr evi ew pur posesonl y•

16/02/16

$10.00

(lunch) (drink)

(pocket money)

17/02/16

$25.00

(new shoes)

18/02/16 19/02/16 20/02/16

$15.00

(movies)

21/02/16 22/02/16 23/02/16

$10.00

(pocket money)

24/02/16 25/02/16

$3.00 (sweets)

$5.00 (washing the car)

26/02/16

$4.50 (milkshake)

27/02/16 28/02/16

ISBN 978-1-925431-18-6

7 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

TEACHERS RESOURCES

YEAR

5

Example of a personal budget Date

Balance

Money in (savings)

Money out (expenses)

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8 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

TEACHERS RESOURCES

YEAR

5

Fractions, decimals and percentages—cut out memory or match-up game

1 or 10 10 100

0.1

10%

2 or 20 10 100

0.2

20%

25 or 1 100 4

0.25

25%

3 or 30 10 100

0.3

30%

4 or 40 10 100

0.4

40%

50 or 1 0.5 100 2© R. I .

C.Publ i cat i ons

50%

7 or 70 10 100

0.7

70%

75 or 3 100 4

0.75

75%

8 or 80 10 100

0.8

80%

9 or 90 10 100

0.9

90%

10 or 100 10 100

1.0

100%

6 • 60 o rr evi ew pu r posesonl y60% • orf 0.6 10 100

ISBN 978-1-925431-18-6

9 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

TEACHERS RESOURCES

5

YEAR

Price tags—finding 10%

65 c

50

00

0

50

.0

9.

. $5

$1

6.

40

$1

$2

$1 90 c

0.

00

0

0

00

.0

.5

00

$7

1.

57

$4

$1

.5

$1

00

0.

$1

00

3.

$1

00

9.

$8

0

0

.0

80

$3

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

$6

5

0

00

0 .4

0 .2

00 5.

00 9.

• AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

0

.1 .7 $4

$3

$9

0

.0 .4 $6

$8

$7

00 9. $3

8.

$2

00 00 6.

0

.0 80

$5

$9

00

.

35

$6

$5

5.

$6

0

.0

50

$9

10

ISBN 978-1-925431-18-6

TEACHERS RESOURCES

5

YEAR

GST on clothing .00

$28

.00

.00

$28

$25

$40 .00

.00

$50

.00

$23

00 23.

$

00

$5.

.00

$43

$15.00

.00

$15.00

$35

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y• .50

.00

$17

$18

.50

$17

.00

$20

00

$8.

.00

$16

ISBN 978-1-925431-18-6

11 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

00

. $12

00

$8.

Fete money collections

YEAR

5

1. The following collections of money were taken at a fete. Subtotal each column, then total up the notes and coins for each stall by adding up the subtotals. (a)

5c Cake stall

10c

20c

50c

$1

$2

$5

$10

$20

II

IIII IIII

IIII

IIII IIII IIII

IIII IIII II

IIII

III

II

I

5c

10c

20c

50c

$1

$2

$5

$10

$20

IIII IIII

IIII I

IIII IIII IIII III

IIII IIII IIII IIII

IIII IIII II

IIII IIII I

III

20c

50c

$1

$2

$5

$10

$20

Total

Subtotal (b) BBQ

Total

Subtotal (c)

5c

10c

Total

IIII IIII IIII IIII

IIII IIII IIII © R. I .

C.P b i c at i o s IIII u IIIIl IIII II n I I III •f orr evi ew IIIpur po sesonl y•

Secondhand books

II

IIII IIII II

Subtotal

2. Which stall made the most money?

least money?

3. Use the table to show one way of making each total. $20.00

$10.00

$5.00

$2.00

$1.00

50c

20c

10c

5c

(a) $53.65 (b) $19.80 (c) $82.45 (d) $68.90 (e) $41.75 GOING FURTHER Suggest two different ways of making the total for the cake stall.

12 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Adding money—shopping lists

YEAR

5

1. Add these family shopping lists to find the totals. Round the totals to the nearest 5c.

$3.60

$0.96

$4.15

$3.30

McDonald family $6.75

$0.45

$1.15

$1.20

$1.80

$3.99

$1.99

$2.40

$3.45

$1.99

$8.20

$2.68

$1.09

$1.80

$1.99

$5.65

$0.99

$0.68

$0.90

$3.54

$4.80

$5.75

$3.90

$0.35

$0.98

$2.10

$0.50

$4.50

$1.23

$4.99

$0.99

$6.20

$2.35

Howell family

Wong family

Mason family

$0.80

Kosta family

$0.80

Total:

Total:

Total:

Total:

Total:

Rounded:

Rounded:

Rounded:

Rounded:

Rounded:

least? © R. I .

C.Publ i cathe t i o ns 3. What change would these two families get back from $50.00?

•f orr evi ew pu r p=osesonl y• family change (a)

2. Which family spent the most money?

(b)

family change =

4. Add these rounded shopping lists together. (a)

Wong family:

(b) Mason family:

+ Kosta family:

+ Howell family:

Total =

Total =

(c) McDonald family:

+ Wong family:

+ Mason family:

Total =

Total =

(e)

Howell family:

(d)

(f)

Kosta family:

Wong family:

+ McDonald family:

+ Mason family:

Total =

Total =

GOING FURTHER Work out the combined rounded total of all five shopping lists.

ISBN 978-1-925431-18-6

13 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

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Multiplying money—Sports store

YEAR

5

1. Find the total cost of the following orders, using the written method.

The first two are done for you.

Order

3 soccer balls

Written method and answer

Order

Written method and answer

(e) 7 water balls

2 1

$ 3 8 . 5 0

x 3 $ 1 1 5 . 5 0 4 1

© R. I .

C.Publ i c at i ons bounce balls •f orr evi ew pur posesonl y•

25 cricket balls

(f) 14 high

$ 9.80 x 1 25 4 9 . 0 0 + 1 9 6 . 0 0 $ 2 4 5 . 0 0

(a) 6 soccer balls

(g) 5 netballs

(b) 9 basketballs

(h) 8 footballs

(c) 25 golf balls

(i) 36 table tennis balls

(d) 12 cricket balls

(j) 28 tennis balls

2. Use a calculator to check your answers above.

GOING FURTHER If a school group was to purchase 10 of each type of ball, what would the total cost be?

ISBN 978-1-925431-18-6

15 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Dividing money—multibuys

YEAR

5

1. Find the cost of one of each of these items using the written method. The first one is done for you.

Picture frame 3 pack

$10.50 Sticky tape

8 for $10 Gift bags

4 for $4.60

Candle holders

Tea light candles

2 for $11.50

8 for $10.40

Notebooks

Gift cards

9 for $5.90

10 sheets for

3 for $6.90

Ribbon bows

6 for $2.10

Sticker sheets

Cellophane

7 sheets for $5.95

4 rolls for $3.80

$6

Item

1 picture frame

Cost for one

Item

Cost for one

(f) 1 gift bag

$ 3 . 5 0 each 3 $10.50

(a) 1 tea light candle

(g) 1 sheet wrapping paper

© R. I .

C.Publ i cat i ons •f orr evi ew pur po sesonl y• (b) 1 ribbon (h) 1 notebook bow

(c) 1 candle holder

(i) 1 greeting card

(d) 1 sticker sheet

(j) 1 gift card

(e) 1 sticky tape

(k) 1 roll cellophane

2. Use a calculator to check your answers above.

3. Why do you think shops/stores use multibuys?

GOING FURTHER If the gift store wanted to sell calculators and purchased stock of 6 for $119.40, how much did one calculator cost them?

16 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Rounding to the nearest 5c

YEAR

5

In Australia, given our smallest coin is five cents, all amounts paid in cash need to be rounded up or down to the nearest five cents. For example, $1.57 = $1.55 or $8.42 = $8.40 or $4.99 = $5.00.

1. Round these amounts to the nearest 5c. (a) $3.12 =

(b)

89c =

(e) $4.96 =

(f) $13.21 =

(c) $52.37 =

(d) $6.19 =

(g)

(h) $163.54 =

78c =

2. Write these supermarket prices in the correct column on the table below according to how they will be rounded.

99c

$1.14

68c

$3.16

$8.97

$4.55

$5.31

$2.18

$7.14

46c

$3.88

$6.02

$5.10

$8.01

$12.24

$4.73

$2.18

$9.06

$10.35

$11.92

Rounded up

Rounded down

Remains the same

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3. Add these amounts and then round the answer to the nearest 5c. (a)

64c (b) + 88c

$ 3.68 (c) + $ 2.71

$ 14.86 (d) + $ 7.05

Total:

Total:

Rounded:

Rounded:

Rounded:

Total:

$ 19.95 + $ 13.79

Total:

Rounded:

(e) $ 25.75 (f) $ 51.68 (g) $ 89.31 (h) $ 163.80

+ $ 19.44 + $ 39.79 + $ 54.17 + $ 89.32 Total:

Total:

Rounded:

Rounded:

Rounded:

Total:

Total:

Rounded:

GOING FURTHER Use a calculator to add up each of the columns in question 2 and, where necessary, round each total to the nearest 5c.

ISBN 978-1-925431-18-6

17 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Supermarket buys

YEAR

5

1. Use the information below to find the cost of each list of items, then round each total to the nearest 5c. spaghetti

canned tomatoes

PRICE

99c

PRICE

89C

65c

PRICE

$3.49

PRICE

$2.99

baked beans

PRICE

PRICE

salsa

(a) 3 cans of tomatoes

1 can of fruit 1 jar of salsa 5 packets of noodles 1 can of baked beans

PRICE

$2.29

$1.98

rice

tomato sauce

PRICE

canned fruit

taco kits

$4.28

2 for $5.00

(b) 2 bottles of tomato

(c) 3 cans of baked

sauce 1 packet pasta 1 taco kit 1 tin tomatoes 1 kg rice 1 packet of noodles

beans 1 kg rice 2 packets of pasta 3 cans of fruit

PRICE

noodles

79c

5 for $3.50

(d) 1 can of baked beans

1 tin tomatoes 1 packet pasta 1 jar of salsa 1 taco kit 1 can of fruit

Total:

Total:

Total:

Total:

Rounded:

Rounded:

Rounded:

Rounded:

Change:

Change:

Change:

Change:

© R. I .

C.Publ i cat i ons 3. Calculate• how much you buying following deals: f o rr esave vi e w the pu r po sesonl y•

2. Work out how much change each list in question 1 would receive from $50. (Hint: subtract the rounded amount from $50.00.)

(a) 5 packets of noodles

(b) 2 bottles of tomato sauce

4. Estimate and then calculate how many of the following items you could buy for $20.00 or under.

Item

Estimation

Quantity and cost

(a) pasta varieties (b) salsa jars (c) 1 kg rice (d) baked beans (e) tomato sauce (f) canned fruit (g) noodles (h) canned tomatoes GOING FURTHER If you were to buy two of each item pictured above, how much change would you get from $100?

18 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Christmas store—purchasing and change TREE DECORATIONS

Small: $1.50 Medium: $2.95 Large: $3.75

YEAR

5

CHRISTMAS TREES Small: $19.00 Medium: $29.00 Large: $39.00

SOFT REINDEERS

$4.99 each

SANTA STATUES $17.50 each

TINSEL

TREE TOPPERS

$1.99 each

$9.95

LIGHT-UP SIGNS

GLASS BALLS

$15.00

LIGHTS $19.95

$4.50 each

1. Find the cost and change for the following items.

Items

Items

(a) 1 small Christmas tree 10 small decorations 1 tree topper Total

Change

Items

(b) 1 large Christmas tree 1 light set 5 large decorations 3 tinsel Total

(c) 1 Santa statue 1 reindeer 2 light-up signs 2 glass balls

Change

Total

Change

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y• Items

Items

(d) 1 medium Christmas tree 2 tinsel 8 medium decorations 1 glass ball Total

Change

Items

(e) 10 glass balls 10 tinsel 1 light-up sign 1 reindeer Total

(f)

Change

3 small decorations 3 medium decorations 4 glass balls 1 tree topper Total

Change

2. Calculate how many of these decorations you could buy for $20.00 and what change you would receive. (a) small:

change:

(b) medium:

(c) large:

change:

(d) tinsel:

change: change:

GOING FURTHER If you had a budget of $100 to spend on a Christmas tree and decorations, what would you buy? Would you have any change left?

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Reading a budget

YEAR

5

A budget is a spending and saving plan that you can use to help manage your money over a set amount of time. You can set up a budget to record work costs, household spending or simply to keep track of your pocket money.

MONTHLY BUDGET – March Net income (after tax): $2500.00 Money going out (expenses)

Budget

Actual

Difference

home loan

$1000.00

$950.00

+$50.00

bills

$350.00

$330.00

+$20.00

food

$400.00

$450.00

–$50.00

clothes

$100.00

$140.00

–$40.00

health

$50.00

$35.00

+$15.00

grooming

$40.00

$40.00

$0.00

entertainment

$200.00

$180.00

+$20.00

gifts

$90.00

$60.00

+$30.00

travel other

© R. I .

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Total spending:

$70.00

$80.00

–$10.00

$2300.00

$2265.00

+$35.00

1. Answer the following questions about the budget pictured above. (a) What month was this budget recorded? (b) How much net income does this person receive? (c) What did this person spend the most money on? (d) What did they spend the least amount on? (e) How much money did they spend on gifts during March? (f) How much did they spend on food this month? (g) How much did they save over budget this month? (h) How much extra over budget did they spend on clothes this month? (i) What was their actual total spending for the month? (j) Which item had the actual budgeted amount spent?

GOING FURTHER Do you think all months will be the same or different? Explain why.

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Class stall budget

YEAR

5

Expenses:

10 different colours of face paint at $5.00 a pot, 2 face glitters at $8.00 each, brushes $20.00, large sign $2.00, pictures of face-painting examples $2.00

Charge:

$2.00 for half face, $4.00 for full face

Customers half: on the day: full: 1. Look at Year 5B’s face-painting stall budget and fill in the budget table below to show expenses, income and total profit. To find the total profit, deduct or subtract the expenses from the income.

Expenses

Income

Profit

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y• 2. Answer these questions about their stall and budget. (a) How much was their total expenses? (b) How much money did they make on half-face designs? (c) How much money did they make on full-face designs? (d) What was their total profit? (e) Do you think their stall was a success? Why/Why not?

(f) Do you think they included enough detail in their budget? (g) How many half faces did they need to do to cover their costs? (h) How many full faces did they need to do to cover their costs?

GOING FURTHER Show this budget in another format; e.g. a pie chart.

22 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

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C.Publ i cat i ons •f orr evi ew pur posesonl y•

My personal budget Date

Balance

Money in (savings)

YEAR

5

Money out (expenses)

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y• 1. Use the table above to fill in an example of a month to show your savings and spendings. Only use as many spaces as you need—you do not need to include days on which you have not saved or spent money. Remember to include the following: – an approximate balance – pocket money – gifted money – all the things you buy (expenses) 2. Looking at your budget, answer the following questions. (a) What are you total savings for that month? (b) What are your total expenses? (c) Did you save more or spend more? (d) Do you think it’s a good idea to keep a personal budget? Why/why not?

GOING FURTHER Show your total savings and spendings on a pie chart. Which piece of the pie is the largest?

24 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Spreadsheets

YEAR

5

Spreadsheets are used to organise, display and calculate a variety of information.

They are particularly useful for recording money coming in and going out. Computer spreadsheets are a fast and efficient way of organising finances.

1. Complete this computer-based spreadsheet by adding the amounts deposited with the subtotals in column C. Deposits in column B are added to the subtotal each time.

A

B

C

Mia’s savings 1

Date

Deposit

Subtotal

2

10 February

$856.00

Opening balance (=C2)

3

21 February

$45.00

(=C2 +B3) $856.00 + $45.00

4

4 March

$30.00

(=C3 + B4) $

+ $30.00 =

5

15 March

$60.00

(=C4 + B5) $

+ $60.00 =

6

27 March

$75.00

(=C5 + B6) $

+ $75.00 =

7

03 April

$30.00

(=C6 + B7) $

+

=

8

10 April

$45.00

(=C7 + B8) $

+

=

+

=

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C.Publ i cat i ons •f orr evi ew pur posesonl y• 2. The spreadsheet below shows money coming in as well as money going out. Calculate 9

23 April

$90.00

(=C8 + B9) $

10

30 April

$30.00

(=C9 + B10) $

+

=

the subtotals in column D by adding or subtracting from the subtotal each time.

A

B

C

D

St Faith’s canteen sales 1

Date

2

1 August

$500.00

3

1 September

$450.00

$120.00

4

1 October

$520.00

$90.00

5

1 November

$350.00

1 December

$600.00

6

Deposit

Withdrawal

Subtotal $500 opening balance (D2 + B3 – C3) $500 + $450 – $120 = (D3 + B4 – C4) (D4 + B5)

$140.00

(D5 + B6 – C6)

(a) Which month had the most income? (b) Which months had the least expenses? (c) What was the final balance on 1 December?

GOING FURTHER Using a computer spreadsheet program, explore creating a spreadsheet. You may like to record the sales above or your own savings and spendings.

ISBN 978-1-925431-18-6

25 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Using Excel® for a budget

YEAR

5

Excel® is a computer program that uses spreadsheets for budgets. It has many useful tools, including an AutoSum tool that adds up each column for you.

Harry’s budget – March Income pocket money

Expenses $120.00

lunch

gift money

$50.00

train

walking the dog

$25.00

clothes

$195.00

books

Total

$40.00 $20.00 $30.00 $10.00

treats

$12.00

Total

$112.00

1. Harry has put his total income and expenses on an Excel® spreadsheet. Rather than writing individual amounts, he has put the totals for the month. Looking at his budget answer the following questions. (a) How much pocket money does Harry get each week?

(f) On average, how much did Harry spend on clothes each week?

(b) If Harry walked the dog five times in March, how much did he get for each walk?

(g) On average, how much did Harry spend on books each week?

© R. I .

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•f orr evi ew pur pWhat os es on l yincome • for (h) was Harry’s total

(c) On average, how much did Harry spend on his lunch each week?

March?

(i) What was Harry’s total expenses for march?

(d) If Harry caught the train each weekday, how much did it cost him each day?

(j) How much did Harry save this month?

(e) On average, how much did Harry spend on treats each week?

2. Create a spreadsheet in Excel® and add the following information to Harry’s budget for April. Use the AutoSum tool to add up the income and expenses columns to find out if Harry was able to save any money in April.

Income: pocket money $120.00, walking the dog $20.00, gifts $0 Expenses: lunch $40.00, train $20.00, clothes $20.00, books $5.00, treats $10.00 GOING FURTHER Create your own personal budget in Excel®, choosing one month to show income and expenses.

Did you find it easy to use?

26 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Finding the average/mean

YEAR

5

To find the average or mean of a list of expenses, you need to add up the amounts then divide the total by the number of amounts that are listed.

For example: $4.50, $3.10, $5.90, $6.20, $2.80 = $22.50 ÷5 = $4.50 1. Find the average/mean of the following lists of expenses. (a) $1.10

(b) 46c

(c) $5.60

(d) $18.75

(e) $ 11.45

$6.70

82c

$8.30

$46.15

$ 6.80

$2.95

56c

$2.70

$29.00

$ 23.40

$3.80

36c

$6.10

$ 41.20

$4.00

$ 3.95

$2.10

$1.25

$ 10.50

$ 5.60 Total

Total

Total

Total

Total

Average

Average

Average

Average

Average

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C.Publ i cat i ons f o rr e vi ew pur pos es onl y• 2. Read the• word problems and find the average/mean using a calculator. (a) If five houses in the one street are sold for $680 000, $715 000, $820 000, $690 000 and $845 000, what is the average house cost in that street?

(d) Each week Helena received a different amount of pocket money depending on the jobs she had done. If she received $12.00, $18.00, $20.00 and $14.00 for the month, what was the average weekly amount?

(b) For her 12th birthday Natalie got four gift cards valued at $30.00, $25.00, $20.00 and $35.00. What is the average gift-card amount?

(e) A school play which ran over two nights made $595 the first night and $475 the second night in ticket sales.

What was the average amount made?

(c) At the bike store there are bikes costing $395, $250, $310, $285, $190 (f) Alex spent $48.00 on travel in a and $340. What is the average cost of month. How much did he spend each a bike? week?

GOING FURTHER On average, how much do you think you spend on treats each month?

ISBN 978-1-925431-18-6

27 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Money and place value

YEAR

5

Amounts or numbers to the left of the decimal point are whole dollars, whereas the numbers to the right of the decimal point are parts of whole dollars—tenths and hundredths.

1. Place these money amounts in the place value table. (a) $35.60

(b) $3580.50

(c) $780.25

(d) $65 874.90

(e) 85c

(f) $214.35

(g) $3548.05

(h) $172 350.00

(i) $56 732.45

(j) $9999.99

(k) $481 958.30

(l) $914.59

Hundreds of thousands

Tens of thousands

Thousands

Hundreds

Tens

Ones

.

Tenths

Hundredths

(a) (b) (c) (d) (e) (f) (g) (h)

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C.Publ i cat i ons •f orr evi ew pur posesonl y•

(i) (j) (k) (l)

2. Write the value of the underlined number; e.g. $683 299.85 = 80c or 8 tenths. (a) $1536.75 = (b) $824 612.52 = (c) $725.98 = (d) $114 699.25 = (e) $1 325 600.80 = (f) $56 732. 99 = (g) $86 632.15 = GOING FURTHER Find the difference between the largest amount and the smallest amount in Question 2.

28 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Fractions, decimals and percentages 5

YEAR

Fractions, decimals and percentages are all related, as they are all parts of a whole number or whole-dollar amount; e.g.

1 10

= 10c (0.1) = 10%.

1. Show the decimals and percentage of these fractional tenths of $1.00. The first is done for you. (a) 1 of $1.00 = 0.10c or 10%

c or

%

10

10 5 10

(b) 2 of $1.00 = 0.

of $1.00 = 0.

c or

8 % (d) of $1.00 = 0.

c or

%

(e) 10 of $1.00 = 0.

c or

% (f) of $1.00 = 0.

9 10

c or

%

c or

% (h) of $1.00 = 0.

4 10

c or

%

(c)

3

6

(g) 10 of $1.00 = 0.

10

2. Show the decimal and percentage of these fractional hundredths of $1.00.

The first is done for you. (a)

52 100 80

= 0.52c or 52%

7

19 100

= 0.

c or

45 100

%

© R. I .

C.Publ i cat i ons = 0.f c or % (f) 0.s c oro %y• • or r evi ew pur p=o es nl

(c) 100 = 0. (e) 100

(b)

c or

% (d) = 0.

c or

%

c or

%

23 100

72

(g) 100 = 0.

99

c or

% (h) = 0.

100

3. Write the fraction to match these decimal amounts of money.

For example: 0.58 =

(a) 0.95c =

58 100

32

or $5.32 = 5 100

(b) 0.82c =

100

(e) 0.50c =

(c) 0.05c =

100

(f) 0.18c =

100

100

(h) $3.60 = 100

(j) $9.02 = 100

100

(g) $1.25 =

100

(i) $8.25 =

(d) 0.75c =

(k) $4.99 =

100

(l) $6.35 =

100

100

100

GOING FURTHER Write these percentages of $1.00 as fractions and decimal numbers. (a) 34% = ISBN 978-1-925431-18-6

or

(b) 6% =

or

(c) 99% =

29 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

or

Percentages and money

YEAR

5

Percentages are commonly used in relation to money. For example, shops often have a percentage-off sale, you may have to pay 10% tax on items (GST) or a person may earn a percentage of what they bring in.

1. To find 10% of an amount you simply move the digits one column to the right; e.g. 10% of $25.00 = $2.50. Find 10% of the following amounts. (b) 10% of $4.50 =

(a) 10% of $2.00 = (d) 10% of $18.00 =

(c) 10% of 0.90c =

(e) 10% of $59.00 =

10% OFF SALE

(f) 10% of $82.50 =

Earbuds

$7.50 each

Head phones

Wii games covers

$20

DVDs

$15 each

$25 each

Mobile phone covers

CDs

Xbox® /PlayStation® games

$5 each

$12 each

© R. I .

C.Publ i cat i ons 2. Find the sale cost of the following items. (Hint: You need to deduct 10% from the cost.)

•f orr evi ew pur posesonl y• $30 each

(a) headphones:

(b) mobile phone cover:

(c) Xbox® game: DVD: (e) earbuds:

(g) 2 CDs:

(d) Wii® game: (f) PlayStation® game & 1 DVD:

(h) headphones & 1 Xbox® game:

3. Find the cost of these items if they had 20% off the original price. (a) DVD:

(b) CD:

(c) headphones:

(d) earbuds:

(e) mobile phone cover:

(f) Xbox® Game:

4. Find the cost of these items if they had 50% off the original price. (a) Wii® game: (d) DVD:

(b) earbuds:

(c) PlayStation® game:

(e) CD:

(f) headphones:

GOING FURTHER If you were to purchase one of each item pictured above at 50% off the marked prices, how much change would you get back from $100.00?

30 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

GST

YEAR

5

GST stands for Goods and Services Tax. In Australia there is 10% GST on most of our items, except for the most basic food items such as bread, milk, fruit and vegetables; some health services; medicines; education courses; childcare; and charities.

GST is even included in services such as a tradesperson’s hourly rate.

1. By law, GST is listed on receipts. Look at the receipts below, and find and circle the GST.

Trev’s

BIG SUPA

s y e l d a e r T

s a Ware M Meg To: MP ringa Rd 9999 7 Ba Vale SA o Tyson

abN:

Thank you for shopping at Big Supa 01735774910

78 01 4902

PHONE (00) 7421 3935 ABN: 88 000 014 675 TAX INVOICE

016 1/06/2 o 10 Date: 2 : 10 N voice TAX in mount Sub total ) Unite pric ) (inc GST (inc GST

A yable ) GST pa (inc GST amount

Phone: 08 8664

0 0 104.1

1041.0

Total

ABN: 47 889

TAX INVO ICE

462.00 42.00 420.00 0 04.60 n .0 1 o 2 0 pti 8.6 2 0 Descri 022 2 6.00 1 S 8 1 45.50 0 r 4 .2 t cv 0.50 30 6 gel sea 5.00 4 T058 44.00 Deluxe .00 40 0 7 .0 2 4 e 5 b 1 40.00 Inner tu X047 0 t .5 e lm he 80 e safety H081 Xtrem bed grip rib le d n a H Qty Item N

0502

712 464

3 Septembe r 2016 Entree @ $7 .50 6 Main @ $18.

45.00 00 6 Desert @ $1 108.00 0.00 6 Beer @ $7.0 60.00 0 4 Bottle wine 28.00 1 Soft drink @ 25.00 $3.50 6 21.00 TOTAL $287 inc .00 GS T 0

1145.1

*0307369 DURACELL D 4PK SPECIAL REGULAR 11.14

9.48 9.48

1 SUBTOTAL

9.48

ROUNDING

$0.02

CASH

$9.50

CHANGE

$0.00

TOTAL FOR 1 ITEMS $9.50

* TAXABLE ITEMS $0.86

TOTAL INCUDES GST 0857 052 0106

0001

16:52 14/10/16

ALL PURCHASES MUST BE ACCOMPANIED

BY YOUR TAX INVOICE TRADING HOURS 8.30 – 5.30 MON–WED & FRI 8.30 – 9.00 THURSDAY 9.30 – 4.30 SATURDAY 10.30 – 2.30 SUNDAY

0

1.0 ): 104 (inc GST TOTAL 104.10 : LE B PAYA OUNT 145.10 GST AM T ): 1 TOTAL (inc GS YABLE PA T N AMOU TOTAL

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VISIT BIGSUPA.COM.AU

2. Looking at the Tasty Thai bill, what would the 10% GST be?

3. Sometimes receipts for goods and services simply say ‘includes GST’. Look at these receipt totals and calculate what the GST would be at 10%. (a) Frank’s plumbing (b) Maria’s pizza service

(c) Link’s electrical store

(d) Garden supplies

Replace and repair one washbasin

2 large pizzas @ $15.00 each

2 hours @ $65.00 p/h

1 small pizza

$9.00

Parts $120.00

1 garlic bread

$3.00

6 x LED globes @ $2.50 1 x hose $24.00 each 1 x gum $12.00 10 m of 2 cm cable 1 x watering can $8.00 2 x $15.00 4 x grasses @ $3.00 each

Total (including GST) Total (including GST) Total (including GST) Total (including GST) $250.00 $42.00 $65.00 $56.00

GST:

GST:

GST:

GST:

GOING FURTHER On supermarket receipts would the GST always be 10% of the final total? Explain.

ISBN 978-1-925431-18-6

31 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

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© R. I .

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Assessment 1

YEAR

5

1. Solve these money problems.

(a) $ 61.35 (b) $ 352.95 (c) $15.95 + $ 26.20 – $ 195.20 x 6

(d) 4 $96.80

2. Add these shopping lists, round them to the nearest 5c, then work out the what the 10% GST would be on the total. (a)

List 1

(b)

List 2

(c)

List 3

(d)

List 4

Pasta dinner $5.99 Quiche $9.84 Hot dogs $4.23 $2.99 Tomato sauce Serviettes $1.89

Ice-cream $4.99 Apple pie $5.26 Custard $1.98 Chocolate $4.29 Lemonade $1.43

Tin spaghetti 89c 89c Tin beans Pasta sauce $3.67 Noodles $1.99 Stock cubes $2.58

Magazine $4.20 Newspaper $1.30 Card $3.99 Wrapping paper 99c Gift bag $1.75

Total:

Total:

Total:

Total:

Rounded:

Rounded:

Rounded:

Rounded:

GST:

GST:

GST:

GST:

–

–

–

–

Change:

Change:

Change:

Change:

© R. I .

C.Publ i cat i ons 3. How much change would each of the lists above receive back from $50.00?

•f orr evi ew pur posesonl y• (b) List 2 $50.00 (c) List 3 $50.00 (d) List 4 $50.00 (a) List 1 $50.00 4. Answer these questions about GST. (a) What does GST stand for? (b) What items is GST included in?

(c) List 3 items that do not have GST.

(d) Where on a receipt do you find GST? (e) How much GST do we pay in Australia? (f) Can the GST change or will it always be as it is now?

5. Using a supermarket catalogue, find 10 items that include GST, add them up and calculate the total GST. 34 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Assessment 2

YEAR

5

Year 5R’s snow cone stall Snow cone stall budget aim: provide snow cones for the school fete at $2.00 each.

Purchase enough equipment to be able to sell 500 snow cones so that we can make a profit of _________. (500 x $2.00) Expenses

Income

Profit

Snow cone machine hire $250.00 5 x Cordials @ $10.00 each Snow cone cups $50.00 for 500 Cardboard signs x 3 - free

Sold 452 snow cones on the day

Income – expenses =

Total:

Total:

Total:

1. Look at Year 5R’s budget for their snow cone stall and complete the missing totals. (a): Income projection $2.00 x 500 = (b) Total expenses: (c) Total income = (d) Total profit: 2. Answer these questions about the budget. (a) Did the budget contain enough information?

© R. I .

C.Publ i cat i ons (c) How• many snow cones they tor sell cover their expenses? f o rr evdid i e wneed pu ptoo se so nl y• (b) Did the snow cone stall make a profit?

3. Use the information on the right to create a personal budget on the table provided.

Month: May Opening balance: $90 Income: $60.00 pocket money

(4 x $15), $10 extra Expenses: new bike pump $10.00,

4 x slurpees $2.50

lunch $10.00 (2 x $5)

Month: Expenses

Total:

Income

Total:

Profit

Total:

4. On the back of this page or using Excel®, create your own personal budget for one month showing your income and expenses.

ISBN 978-1-925431-18-6

35 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

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TEACHERS NOTES

YEAR

6

Investigate and calculate percentage discounts of 10%, 25% and 50% on sale items, with and without digital technologies (ACMNA132)

INTRODUCTION This outcome and level is all about immersing students in percentages. At this level students should have a relatively good grasp of working with decimal numbers and money. They will use their knowledge of decimal numbers and fractions and relate this to percentages. Building on their previous knowledge of financial mathematics, students can have discussions on the need to budget, the role of tax and GST, and how shops use percentages to add or reduce costs for consumers. Students will be given the opportunity to focus on real-life money situations such as working out costs and percentages using the written method as well as calculators or computers, and they will come to realise that percentages are part of everyday life. Interest rates on loans and savings are another way of using percentages to calculate what we may owe or have owed to us.

Relating fractions, decimals and percentages

off an amount they can either calculate 10% then double that amount or they can think 20% is the same as 15 , so calculate 15 of the amount. Both methods are correct and get the same answer, but students may prefer to use one over the other.

Students will notice and discuss how fractions, decimals and percentages are all related as they are all parts of whole numbers. If they were to see a sign in a store saying 50% off they would realise that 50% is also half the amount.

They will also need to relate fractions to decimal numbers, as these decimal numbers are used to represent our money system.

When solving problems relating to calculating a percentage off an amount, it is important to point out to students that once they have worked out the percentage they must then subtract this from the original price to find the new discounted cost. Alternatively, they may be required to add 10% to a cost after they have calculated it, such as adding 10% GST to an amount.

Highlight and discuss with students that the non-significant zero that can be omitted when writing a decimal number needs to be included when representing a monetary amount; e.g. 4.20 can be written as 4.2 when expressed as a decimal number but as an amount should be expressed as $4.20.

Interest rates on loans are also worked out as a percentage of what is borrowed, therefore students will have the opportunity to calculate what would need to be repaid after the interest rate is calculated and added on to the borrowed amount. Interest rates that are charged on credit card loans are generally at higher rates because they are usually for a shorter term. Allow students to calculate various percentages using the written method and using digital technology (a calculator or computer).

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There will be a crossover of concepts when discussing fractions, decimals and percentages, and students will draw on their knowledge from other mathematical outcomes such as Make connections between equivalent fractions, decimals and percentages (ACMNA131) and Multiply and divide decimals by powers of 10 (ACMNA130) . These concepts are evident when students look at marketing techniques stores often use such as multibuys. Students will be asked to divide these multibuys to see if there is a saving.

Alternatively, they may be required to multiply a cost by multiples of 10. Demonstrate to students how the digits of a number move columns to the right or left when we divide and multiply by powers of 10.

Links to other areas of the curriculum Humanities and Social Sciences: Allow students to investigate how percentages are used in the retail world. Look at marketing techniques and how shops use percentage-off sales and multibuys to encourage consumers to shop and spend more.

Calculating percentages

Ask students to investigate the cost of borrowing money from a bank (a loan). Students imagine they want to buy a car and borrow $10 000 from a bank. What total amount would you end up paying after you added interest charged?

A large part of our lives when dealing with money involves being able to calculate percentages. We use percentages to pay tax (10% GST), add interest to a loan, receive a percentage of an income, take a percentage off an amount for a sale item etc. After students have had the opportunity to convert fractions and decimals into percentages they will begin to understand how to calculate the percentage of an amount.

Investigate our decimal currency to answer questions including how dollars and cents became our currency and when and why we replaced our old currency of pounds, shillings and pence.

Show students how to calculate 10% of an amount and see if they notice that when they move the digits one column to the right it will give them that 10%; e.g. 10% of $4.50 = 45c. Using their knowledge of fractions they will realise that 25% is the same as 14 , therefore they could calculate 1 of a cost to find the percentage off. When calculating 4 50% off a price, again they will draw on their knowledge that 50% is equivalent to 12 , therefore the price will be halved. Demonstrate to students that when calculating 20%

ISBN 978-1-925431-18-6

English: Look at financial words and terminology such as debit, credit, interest, principal, interest rate, budget, tax, percentage etc. Define these words and look at their origins.

Write a story or play about visiting a Boxing Day sale.

Investigate old and new sayings that mention money; for example, ‘a penny for your thoughts’.

39 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

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TEACHERS RESOURCES

YEAR

Fractions, decimals and percentages— cut out match-ups/memory game 1 10

0.1

10%

2 10

0.2

20%

1 4

0.25

25%

3 10

0.3

30%

1 3

0.33

33%

4 or 2 10 5

0.4

40%

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C.Pu bl i cat i ons 50% 0.5 f orr evi ew pur posesonl y• 6• or 3 0.6 60% 10 5 5 or 1 10 2

2 3

0.66

66%

7 10

0.7

70%

3 4

0.75

75%

8 or 4 10 5

0.8

80%

9 10

0.9

90%

10 10

1.0

100%

ISBN 978-1-925431-18-6

43 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

6

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

TEACHERS RESOURCES

YEAR

Financial words and meanings ❖ Finance

The management of money

❖ Decimal

A fraction or part of a whole number; includes a decimal point

❖ Decimal system

The number system we use every day, which is the representation of numbers in base ten

❖ Percentage

A part of 100 or a fraction/per cent of a number

❖ Fraction

Part or portion of a whole

❖ Credit

Money available to borrow

❖ Credit card

❖ Debit

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

A card that allows the holder to purchase goods on credit (borrowed money)

An amount that is owing

❖ Debit card

A card that enables the holder to withdraw their own money directly from their account

❖ Interest

The fee charged by a lender to borrow money, which is usually a permeate of the amount

❖ Invest

To commit money in order to make a profit

❖ Tax

A fee charged by the government for revenue based on income or cost of goods and services

❖ GST

Goods and Services Tax

❖ Loan

To borrow or lend an amount of money

ISBN 978-1-925431-18-6

45 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

6

TEACHERS RESOURCES

YEAR

Price tags—10% off

$8.00

$6.99

$5.20

$7.50

$12.40

$15.00

$3.50

$1.99

$19.90

$24.50

$18.00

$48.00

$60.00

$39.00

$86.00

$99.00

6

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

$135.00 $164.00 $180.00 $300.00

$520.00 $725.00 46 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

TEACHERS RESOURCES

YEAR

Calculating percentages Amount

10%

20%

30%

40%

50%

60%

70%

80%

90%

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

$9.00

$10.00

$11.00

$12.00

$13.00

$14.00

$15.00

ISBN 978-1-925431-18-6

47 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

6 100%

TEACHERS RESOURCES

6

YEAR

Percentage-off department store sale

% off department store sale 10% off all cosmetics 20% off all men’s and women’s clothing 25% off shoes 50% off all christmas decorations $4

.00

5.0

$90

$80

0

. 00

$21.00

$110.00

Ladies evening shoes mens shirts Womens Jeans $75

mens jeans

Womens T shirts

.00

$60

.00

$59

.00

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y• $12

.00

foundation

Women’s casual dresses dresses Womens casual

Duo eye shadow

$21

.00

$50

.00

Lipstick mens chino pants $12

mens casual shoes

0.0

$35

0

.00 $18

perfume

.00

mens work shoes

$55

.00

mascara

Ladies flat shoes

$24

.00 $15

.00

Childrens casual shoes thongs

$25

.00 $19

CHRISTMAS LIGHTS

.99

light-up CHRISTMAS signs

$10

$30

.00

.00

$65.00

6 ft CHRISTMAS trees

set of 10 christmas decorations

tree toppers

00

$9.

$5.

tinsel

90

CHRISTMAS ornaments

48 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Child swim

Adult swim

$4.00

$7.50

Family swim 2 adults 2 children $21.00

Locker hire $1.50

Extra children $2.50

Seniors $4.50

Swim caps $9.00

GOGGLES standard $12.00 deluxe $18.00

Water slides $5.00 extra

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

Purchasing—Evie’s café and takeaway MENU

All day breakfast Eggs any way: $9.50

YEAR

6

Scones: $6.00

Raisin toast: $4.00

Brekkie pizza: $14.50

DRINKS:

Vegetarian brekkie: $15.00

Juices: $5.50

Big breakfast: $19.00

Coffee regular: $3.80 large: $4.20 Tea: $4.00 Hot chocolate: $4.50 Milkshakes: $5.50

Berry pancakes: $12.50

Fruit and yoghurt: $7.50 Muffins: $3.50

1. Find the cost and change of the following orders: Order

Cost

Change

(a) 1 scrambled eggs, 1 regular coffee and 1 muffin

from $20

(b) 1 berry pancakes and 1 orange juice

from $20

(c) 1 fruit and yoghurt and 1 hot chocolate

from $20

(d) 1 big brekkie and 1 large coffee

from $30

(e) 1 vegetarian brekkie, 1 regular coffee and 1 serve raisin toast

from $30

(f) 1 poached eggs, 1 brekkie pizza, 1 large coffee and 1 hot chocolate

from $50

© R. I .

C.Publ i cat i ons (g) 1 serve scones, 1r milkshake, 1w muffin and 1p • f o r e v i e p u r osesonl y• pineapple juice from $50

(h) 2 serves raisin toast, 1 milkshake, 1 tea and 1 serve scones

from $50

2.

Suggest what the order could be for each of the following exact totals. (a) $10.00: Order = (b) $14.00: Order = (c) $18.00: Order = (d) $22.80: Order = 3.

What would you order at Evie’s café? What would be the total cost and change from $50?

Order

Cost

Change from $50

GOING FURTHER Create an order for your whole family from the menu above. Suggest what each family member may order, what the total cost would be and what change you would get from $100.

50 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Adding and subtracting money—Sports store

cross trainers $99.90

$129.50

$149.90

running spikes

golf shoes

netball shoes

$64.50

football/soccer boots $89.90

basketball boots

runners

$179.80

casual runners $49.90

$85.00

kids runners

thongs

$59.00

$21.90

1.

Find the total cost of the following items, and change.

Items

Cost

Change

(a) 1 pair football boots and 1 pair thongs

from $150

© R. I .

C.Publ i cat i ons 1 pair and 1 pair casual •runners f or r e vi ewrunners pur posesonl y•

(b) 1 pair netball shoes and 1 pair kids

from $150

runners (c)

from $200

(d) 1 pair basketball boots and 1 pair thongs

from $200

(e) 1 pair running spikes and 1 pair soccer

from $200

boots (f) 2 pairs of cross trainers

from $200

(g) 1 pair golf shoes and 1 casual runners

from $250

(h) 1 pair runners, 1 pair cross trainers and

from $300

1 pair casual runners

2.

Use your rounding skills or a calculator to find out how much change you would get back from $200 for the following items. (a) cross trainers:

(b) runners:

(d) soccer boots:

(e) netball shoes:

(g) golf shoes:

(h) running spikes:

(c) basketball boots:

(f) kids runners:

(i) casual runners:

3.

Use a calculator to work out what it would cost to buy one pair of each type of shoe.

GOING FURTHER If you had $500 to spend at this store, what would you buy and how much change would you receive?

ISBN 978-1-925431-18-6

51 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

YEAR

6

Multiplying money—Butcher

YEAR

6

FISH

$16.99

/kg

1. Find the cost of each of the following. (a) 3 kg mince

(b) 2 kg lamb roast

(c) 6 kg sausages

(d) 4 kg roast pork

(e) 3 kg stewing steak

(f) 1½ kg eye fillet

© R. I .

C.Publ i cat i ons (g) 5 kg fish (h) 7 kg chicken fillets •f orr evi ew pur posesonl y• (i) 3 kg steak

(j) 2½ kg stir-fry mix

2.

Find the cost of 10 kg of each of the following items. (a) sausages:

(d) roast pork: (g) eye fillet:

(b) chicken fillets:

(c) roast lamb:

(e) mince:

(h) fish:

(f) stir-fry mix: (i) stewing steak:

(j) steak: 3.

What do you notice about the 10-kg amounts compared to the 1-kg amounts?

GOING FURTHER If you had a budget of $100 and had to feed 10 people for a BBQ, what would you buy?

Would you have any change?

52 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Multiplying money by 10, 100 and 1000

YEAR

6

When we multiply an amount of money by 10, each digit moves one column to the left; e.g. 0.05c x 10 = $0.50. If we multiply the amount by 100, each digit moves two columns to the left; e.g. 0.05c x 100 = $5.00. If we multiply the amount by 1000, each digit moves three columns to the left; e.g. 0.05c x 1000 = $50.00.

1.

Fill in the table by multiplying these amounts of money by 10, 100 and 1000.

Amount

x10

x100

x1000

(a) .06c (b) .10c (c) .45c (d) .82c (e) .03c (f) .78c (g) $1.50

© R. I .

C.Publ i cat i ons Small pencils 10c each Large pencils 35c each •f or r evi ew pur po sesonl y•

(h) $3.70

Pens 50c each

Small erasers 15c each

Large erasers 40c each

2.

Use the information above to work out what the cost of the following orders would be.

(a) 10 pens =

(b) 100 small pencils =

(c) 1000 small erasers =

(e) 10 large erasers =

(d) 100 large pencils =

(g) 1000 large erasers =

(f) 100 pens =

(h) 10 large pencils =

(i) 10 small pencils and 10 large pencils = (j) 10 small erasers and 10 pens = 3.

Which item could you buy 100 of if you had $50.00?

GOING FURTHER If you were to buy 100 of each of the items pictured above, what would the total cost be?

ISBN 978-1-925431-18-6

53 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Dividing money by 10, 100 and 1000

YEAR

6

When we divide an amount of money by 10, the digits move one column to the right; e.g. $80.00 ÷ 10 = $8.00. If we divide the amount by 100, the digits move two columns to the right; e.g. $80.00 ÷ 100 = 80c. If we divide the amount by 1000 the digits move three columns to the right; e.g. $80.00 ÷ 1000 = 0.08c.

1.

Fill in the table by dividing these amounts of money by 10, 100 and 1000.

Amount

÷ 10

÷ 100

÷ 1000

(a) $65.00 (b) $29.00 (c) $31.00 (d) $24.00 (e) $48.00 (f) $100.00 (g) $260.00

© R. I .

C.Publ i cat i ons 2.

Find the cost of one of each of the following items.

•f orr evi ew pur posesonl y• (h) $580.00

(a) 10 biscuits for $2.30 =

(b) 10 mangoes for $28.00 =

(c) 10 muesli bars for $6.50 =

(e) 10 cheese sticks for $3.90 =

(d) 10 icy poles for $5.10 =

(f) 10 water bottles for $8.50 =

3.

Find the cost of one of each of the following items.

(a) 100 nails for $16.00 = (c) 100 m rope for $37.00 = (e) 100 pegs for $9.00 =

(b) 100 tacks for $21.00 =

(d) 100 batteries for $48.00 =

(f) 100 hooks for $65.00 =

4.

Find the cost of one of each of the following items.

(a) 1000 gift tags for $300.00 = (c) 1000 envelopes for $400.00 =

(b) 1000 cards for $600.00 =

(e) 1000 plastic pockets for $500.00 =

(d) 1000 stickers for $250.00 = (f) 1000 tacks for $100.00 =

GOING FURTHER If a truck driver paid $1230 for 1000 L of petrol what would one litre cost?

How much would it cost to fill a 100-L tank?

54 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Multibuys—finding the cost of one

YEAR

6

1.

Why do you think shops advertise and use multibuys?

2.

Work out the cost of a single item from each of these multibuys and calculate how much you save. (a) rice crackers 2 for $3.50, 1 for $1.99

(b) fruit packs 4 for $5.00, 1 for $1.40

saving = (c) popcorn 10 for $3.50 or 50c each

saving = (d) breakfast drinks 6 for $4.20 or 90c each

saving =

saving =

(e) yoghurt 4 for $6.00 or $1.50 each

(f) sports drinks 5 for $9.00 or $2.40 each

saving = saving = © R .

I .

C .

P u b l i c a t i o n s (g) pegs 100 for $4.00 or 1 for 5c (h) dishcloths 100 for $3.00 or 1 for 5c •f orr evi ew pur posesonl y•

saving =

saving =

3.

If you purchased all the multibuys above, what would be your total saving?

4.

In most cases the more you buy, the more you save. However, this is not always the case.

Look at the costs for 1, 10 and 100 of these items and circle the greatest saving for each. (a) A4 envelopes:

1 for 50c

10 for $4.50

100 for $40.00

(b) A3 envelopes:

1 for 75c

10 for $6.50

100 for $70.00

(c) express envelopes:

1 for $1.30

10 for $12.00

100 for $120.00

(d) small boxes:

1 for $2.10

10 for $22.00

100 for $225.00

(e) stamps:

1 for 70c

10 for $7.00

100 for $68.00

(f) overseas stamps:

1 for $1.25

10 for $12.00

100 for $125.00

GOING FURTHER If you purchased 10 A4 and 10 A3 envelopes (question 4) how much would you save not buying them individually?

ISBN 978-1-925431-18-6

55 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

5.5 kg

4 kg

suitcase

suitcase

$100.00

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

$85.00

2.5 kg

suitcase

$65.00

soft carry-on bag

$38.00

Flig

fro

mm

elb

our

hts

e: Hob art: $59 Ade .00 laide : $99 Pert .00 h: $49 Darw 9.0 0 in: $37 Cair 9.0 ns: 0 $42 Gold 9.0 coas 0 t: $ 299 Sydn .00 ey: $ 199.0 Ca n berra 0 : $ 129 .00 n

make-up case

$52.00

Fractions, decimals and percentages

YEAR

6

A fraction can also be expressed as a decimal number and as a percentage, because they all represent parts of a whole number.

1.

Fractions can be written as parts of ten (tenths) or parts of one hundred (hundredths). Fill in the decimal numbers below the line and percentages above the line to match the fractions on the number line. The first is done for you.

10% 0

1 10

2 10

0.1

0.

3 10

0.

4 10

5 or 1 10 2

0.

0.

6 10

7 10

0.

0.

8 10

9 10

0.

10 or 1 10

0.

0.

2.

Write the fraction, decimal and percentage that is shaded below. For example: 32/100, 0.32, 32%. (a)

(b)

(c)

(d)

fraction:

fraction:

fraction:

fraction:

decimal:

decimal:

decimal:

decimal:

percentage:

percentage:

percentage:

percentage:

©R .

I .

C.Pub l i cat i ons(d) (b) (c) 34•f 51• orr ev6i ew pur p79 osesonl y

3.

Represent the fraction on each grid and write the matching decimal and percentage. (a)

100

100

100

100

decimal:

decimal:

decimal:

decimal:

percentage:

percentage:

percentage:

percentage:

4.

Fill in the missing fractions, decimals and percentages on each table below.

Fraction (a)

76 100

(b) (c)

0.09 18 100

Percentage

0.67 44 100

(f)

0.25

Fraction

76%

(g)

9%

(h)

0.18

(d) (e)

Decimal

(j)

44%

(k)

25%

(l)

38% 0.57 14% 84 100

0.05

GOING FURTHER If 56 students at a school were boys, what percentage would be girls?

100

ISBN 978-1-925431-18-6

Percentage

92 100

(i) 67%

Decimal

57 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Percentages

YEAR

6

The word ‘per cent’ comes from an abbreviated Latin word per centum, which means ‘by the hundred’. It can be related to fractions and decimals.

1.

Use your knowledge of equivalent fractions to draw a line from each fraction to its matching percentage.

1 3

3 5

1 2

3 4

1 5

1 1

2 3

2 5

9 10

1 4

7 10

4 5

70%

20%

100%

66%

80%

25%

50%

33%

60%

75%

90%

40%

2.

Write the percentages above in order from the smallest to the largest on the number line.

0%

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

100%

3.

Below the number line, write the matching decimal numbers for each percentage.

4.

If 10% of 100 is 10 or 10, find these percentages of 100. The first one has been done for you.

100

10% of 100 = 10

(a) 20% of 100 =

(b) 30% of 100 =

(c) 40% of 100 =

(d) 50% of 100 =

(e) 60% of 100 =

(f) 70% of 100 =

(g) 80% of 100 =

(h) 90% of 100 =

(i) 100 % of 100 =

5.

Looking at the amounts above, decide whether the following statements are true or false. (a) 50% of 100 is the same as 1

(b) 90% of 100 is the same as 0.8

(c) 20% of 100 is the same as 1

(d) 10% of 100 is the same as 0.1

2 5

(e) 70% of 100 is the same as 0.75

(f) 60% of 100 is the same as 2 3

GOING FURTHER Make a list of all the places you have seen percentages used.

58 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Percentages—10%

YEAR

6

1 10% of an amount is the same as working out 10 of that amount; e.g. 10% of $5.00 = 50c 1 of $5.00 = 50c. You will notice that when you calculate 10% of an amount of money or 10 the digits move one place to the right.

1.

Move the digits one place to the right to find 10% of each of the following amounts. (b) 10% of 90c =

(a) 10% of $2.00 = (d) 10% of 50c =

(g) 10% of $7.50 = (j) 10% of $18.00 =

(c) 10% of $3.50 =

(e) 10% of $6.70 =

(f) 10% of $5.80 =

(h) 10% of $9.20 =

(i) 10% of 60c =

(k) 10% of $42.00 =

(l) 10% of $27.00 =

2.

Calculate the 10% saving and new price of the following sale items.

10% OFF

iPod® $230

DVDs $18 each

Karaoke machine $120

REX HUN

Cretaceou

TE R

s KI NG!

POOL TOYS

SALE

From:

Messages

DVD box sets $45 each

Item

CDs $15 each

To:

XBox® games $60 each CD player $49

Price

KARAOKE IDOL

iPad® $350

10% off

New sale price

© R. I .

C.Publ i cat i ons (b) DVD •f orr evi ew pur posesonl y• (a) karaoke machine

(c) CD player (d) Xbox® game (e) CD (f) iPad® (g) DVD box set (h) iPod® 3.

Find the total sale cost for each of the following by subtracting 10%.

Total:

–

=

(b) 1 Box set DVD and 1 Xbox® game: Total:

–

=

(c) 1 karaoke machine and 1 CD:

Total:

–

=

(d) 1 iPod® and 1 iPad®:

Total:

–

=

(a) 1 DVD, 1 CD and 1 CD player:

GOING FURTHER If you were to purchase one of each item in the sale above, what would be your total saving?

ISBN 978-1-925431-18-6

59 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

2 10

$4.00

1 5

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y•

Percentages—50%

YEAR

6

50% is the same as one half ( 12 ).

1. Find one half or 50% of these amounts. For example:

1 2

1 of 94c = (b) 2

of $58.00 = $29.00 (think 58 ÷ 2).

(a)

1 2

of 70c =

1 of $1.30 = (c) 2

(d)

1 2

of $4.80 =

(g)

1 2

of $11.50 =

1 of $23.00 = (h) 2

1 of $31.20 = (i) 2

(j)

1 2

of $45.70 =

1 of $78.60 = (k) 2

1 of $98.30 = (l) 2

1 of $7.10 = (e) 2

1 of $9.00 = (f) 2

2.

Find the new sale cost and saving for the following purchases.

© R. I .

C.Publ i cat i ons •f orr evi ew pur posesonl y• (a) 1 adventure toy Item(s)

Original cost

Change from $50

Sale cost

(b) 1 transformer (c) 1 ride-on scooter (d) Mini cars (e) 1 small LEGO™ set (f) 1 little kitchen (g) 1 remote-controlled car (h) 3 dolls (i) 1 robot dog (j) 1 craft kit and 1 mini car (k) 1 remote-controlled car and 1 transformer (l) 1 LEGO™ set and 1 adventure toy

GOING FURTHER Calculate the total saving you would make if you were to purchase one of each toy at the toy sale.

62 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Finding percentages

YEAR

6

1.

Find the percentages of these amounts.

10%

30%

40%

60%

70%

80%

90%

(a) $1.00 (b) $3.00 (c) $8.00 (d) $10.00 (e) $15.00 (f) $20.00 (g) $40.00 (h) $50.00 (i) $100.00

© R. I .

C.Publ i cat i ons 2.

Describe• thef pattern can above as the percentage increases time• by 10%. oryou r e vsee i e wp ur pose soeach nl y (j) $800.00

3.

Find the percentages off these amounts and the new costs.

25%

New cost

50%

New cost

75%

New cost

(a) T-shirt at $20.00 (b) Shorts at $14.00 (c) Jeans at $60.00 (d) Dress at $42.00 (e) Skirt at $30.00 (f) Jacket at $88.00

GOING FURTHER If you were to purchase one of each clothing item above at 25% off, what would the total be and how much change would you get back from $200?

ISBN 978-1-925431-18-6

63 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Calculating 5%

YEAR

6

The easiest way to calculate 5% off a price is to work out 10% or For example, 5% of $25.00 (think

1 10

1 10

then halve it.

or 10% is $2.50, half = $1.25)

1.

Calculate 5% off these prices by working out 10% first, then halving it.

Original amount

10% off

5% off

New amount

(a) $1.00 (b) $8.00 (c) $10.00 (d) $26.00 (e) $43.00 (f) $78.00 (g) $120.00 (h) $450.00 2.

Calculate the sale price at 5% off the original price and the total saving.

5% OFF

Blu-ray player $250

ELECTRICAL

SALE © R. I .

C.Publ i cat i ons Surroundsound system $1200

Cinema screen $2500

•f orr evi ew pur posesonl y• Universal remotes $90 each

Large TV $990 each

Items

Small TV $680 each

Original price

Speakers $600

Sale price

DVD player $100

Saving

(a) DVD player (b) Speakers (c) Universal remote (d) Small TV (e) Blu-ray player (f) Large TV (g) Surround-sound system (h) Cinema screen 3.

What would it cost if you were to purchase the following at 5% off: (a) a large TV and surround-sound system? (b) a cinema screen and speakers? (c) a small TV and blu-ray player?

GOING FURTHER How much would you save if you were to purchase one of each item at the sale above?

64 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Percentage-off sale Tablecloths 25% OFF $42.00

Towels 20% OFF $22.00

Glass sets 20% OFF $35.00

Placemats 10% OFF $20.00

6

Sheet sets 25% OFF $120.00

Quilt covers 25% OFF $150.00

Dinner sets 50% OFF $89.00

Platters 50% OFF $28.00

YEAR

Cutlery sets 20% OFF $56.00

Vases 30% OFF $30.00

1.

Work out the saving and discount price for the following items: Item

Original price

Saving

Discount price

(a) Glass set (b) Towel (c) Tablecloth (d) Vase (e) Platter (f) Dinner set (g) Placemats

© R. I .

C.Publ i cat i ons (i) Quilt cover • f orr evi ew pur posesonl y• (h) Cutlery set

(j) Sheet set 2.

Complete the chart for these purchases listing the original prices, percentage off, new price and total saving. The first one is done for you.

Purchases

1 dinner set and 1 platter

Original price

Percentage off

New price

Total saving

$89 + $28 = $117

50%

$58.50

$58.50

(a) 2 glass sets (b) 1 sheet set and 1 quilt cover (c) 4 towels (d) 2 platters (e) 2 tablecloths (f) 1 cutlery set and 1 towel

GOING FURTHER Calculate the total saving you would make if you were to purchase one of each item at the sale above.

(Hint: Take notice of all the different percentages off.)

ISBN 978-1-925431-18-6

65 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Which percentage?

YEAR

6

Ties were$ $60 NOW $45

Earrings were $10 NOW $7

Handkerchiefs were $5 NOW $2.50

Belts were $40 NOW $28 Hats were $50 NOW $35

Scarves were $25 NOW $20

Handbags were $80 NOW $60

Key rings were $35 NOW $28 Gloves were $30 NOW $15

Cufflinks were $45 NOW $36

Dress rings were $100 NOW $60

Wallets were $60 NOW $54

Sunglasses were $120 NOW $90

Assorted watches were $150 NOW $135

1.

Look at the original and discount prices above and work out what percentage has been taken off, then list the item under the correct percentage.

10%

20%

25%

30%

40%

50%

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2.

Work out the total saving in each percentage column above: 10% =

20% =

25% =

30% =

40% =

50% =

3.

Work out which percentage has been taken off the following amounts. (a) Was $3.00, now $1.50 = (b) Was $10.00, now $8.00 =

(f) Was $5.00, now $4.50 =

(g) Was $7.50, now $6.00 =

(c) Was $25.00, now $12.50 =

(d) Was $90.00, now $81.00 =

(e) Was $200.00, now $120.00 =

(h) Was $60.00, now $42.00 = (i) Was $130.00, now $65.00 =

(j) Was $500.00, now $375.00 =

GOING FURTHER Imagine you had $200 to buy gifts, choosing from any of the items pictured above. What would your total be? How much would you save?

66 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Using calculators to work out percentages

YEAR

6

1.

Use a calculator to find the percentage rate of these amounts. To do this, multiply the amount by the percentage on the calculator.

For example: 25% of $300 = press 300 x 25% = $75.00. (a) 10% of $60.00 (60 x 10%) = (b) 30% of $5.00 (5 x 30%) = (c) 40% of $20.00 (20 x 40%) = (d) 25% of $90.00 (90 x 25%) = (e) 60% of $200.00 (200 x 60%) =

(i) 20% of $65.00 (65 x 20%) =

(f) 70% of $50.00 (50 x 70%) =

(j) 50% of $210.00 (210 x 50%) =

(g) 80% of $400.00 (400 x 80%) =

(k) 75% of $300.00 (300 x 75%) =

(h) 30% of $350.00 (350 x 30%) =

(l) 90% of $700.00 (700 x 90%) =

2.

Use a calculator to add the new sale price to the items pictured below.

Caps were $27

Sunglasses were $40

Casual runners were $65

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C.Publ i cat i ons •f orr evi ew pur posesonl y• 30% OFF NOW ONLY

20% OFF NOW ONLY

40% OFF NOW ONLY

Scarfs were $29

Hoodies were $50

25% OFF NOW ONLY

Jackets were $90

Beanies were $15 50% OFF

T-shirts were $30

NOW ONLY

30% OFF

25% OFF

NOW ONLY

NOW ONLY

10% OFF NOW ONLY

3.

Find these percentages using a calculator. (a) 10% of 50 m =

(b) 40% of 300 kg =

(c) 20% of 130 cm =

(d) 70% of 200 L =

(e) 25% of 600 km =

(f) 15% of 160 mm =

(g) 50% of 1 hour =

(h) 60% of 1000 m =

(i) 90% of 800 g =

GOING FURTHER If you had travelled 60% of a 3000 km journey, how many kilometres would you have left to travel?

ISBN 978-1-925431-18-6

67 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

2%

3%

6%

7%

8%

9%

10%

68

• AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

(b) $4000

(c) $8000

(d) $12 000

(e) $7500

=

(b) $9000 =

(c) $11 000

=

(d) $16 000

=

(e) $25 000

=

(a) $3000 =

(b) $8000

=

(c) $12 000

=

(d) $1500

=

(e) $22 000

4.

What total would you end up paying back if you borrowed these amounts at 4% interest?

=

(a) $2000

= = = = =

3.

What total would you end up paying back if you borrowed these amounts at 3% interest?

(a) $6000

=

(f) $60 000

=

(f) $40 000

=

(f) $25 000

2.

What total would you end up paying back if you borrowed these amounts at 2% interest? You will need to add the interest to the amount. You may like to use a calculator. For example: $3000 = $3000 + $60 = $3060.00

(h) $100 000

(g) $50 000

(f) $40 000

(e) $30 000

(d) $20 000

(c) $10 000

(b) $5000

(a) $1000

1%

4%

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1.

Calculate the various interest rates of these amounts.

5%

When organisations lend money they normally charge an interest amount in the form of a percentage of the total amount lent.

This can range from 2% up to 10%. When lending money you can choose a fixed rate of interest, which means the interest rate does not change, or a variable rate of interest, which means the interest rate changes according to the market values. For example, if you were to borrow $1000 at 3% fixed interest, you would end up paying back $1030 (think 1% of $1000 = $10 x 3 = $30). Alternatively, using a calculator, 1000 x 3% = $30.

Loan interest YEAR

6

GOING FURTHER

What do you think is the advantage of having a fixed rate instead of a variable rate?

ISBN 978-1-925431-18-6

Credit cards and interest rates

YEAR

6

Interest rates on credit cards are usually higher because the loan repayment time is generally shorter than on long term loans. They can be as high as 20%. If a credit card is paid in full by the due date then no interest is added, but if the bill is over the due date then interest is added and calculated daily.

1.

Calculate the interest these people owe on their credit card bills below by adding 20% to their bill. (a) Rachel’s total $500.00 + 20%

TOTAL

(b) Mike’s total $820.00 + 20%

TOTAL

(c) Peng’s total $350.00 + 20%

TOTAL

(d) Ava’s total $1200.00 + 20%

TOTAL

(e) Abdul’s total $2000.00 + 20%

(f) Levi’s total $940.00 + 20%

(g) Georgina’s total $3500.00 + 20%

(h) Jensen’s total $610.00 + 20%

TOTAL

TOTAL

TOTAL

TOTAL

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f o r r eanswer vi ethe wfollowing pur posesonl y• 2.

Looking • at the bills above questions.

(a) Who would have paid the most interest? (b) Who would have paid the least interest?

3.

Answer the following questions about Rachel’s bill.

4.

Answer the following questions about Abdul’s bill.

(a) If Rachel’s bill was $500 each month, what would her total cost be for 1 year without interest?

(a) If Abdul’s bill was $2000 each month, what would his total cost be for 1 year without interest?

(b) If Rachel paid 20% interest each month, what would her total cost be for 1 year?

(b) If Abdul paid 20% interest each month, what would his total cost be for 1 year?

(c) How much would Abdul save without paying 20% interest over a year?

(c) How much would Rachel save without paying 20% interest over a year?

GOING FURTHER What advice would you give a person who has a credit card?

ISBN 978-1-925431-18-6

69 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

GST

YEAR

6

GST stands for Goods and Services Tax. The current rate of GST is 10% on goods and services but excludes fresh fruit and vegetables, basic foods, some health services, medicines, education courses, childcare and charities.

1. Calculate and add the GST on to the following foods items to find the total cost.

For example: 1 pack muffins at $3.50 = $3.50 + 35c = $3.85.

(a) 1 kg pasta at $2.50 =

(f) 1 pack choc biscuits at $3.20 =

(b) 1 tin dog food at $4.30 =

(g) 1 pack custard at $3.90 =

(c) 1 L ice-cream at $6.40 =

(d) 1 laundry liquid at $7.10 =

(h) 1 pack muesli bars at $2.99 = (i) 1 hair spray at $5.80 =

(e) 1 family pie at $9.30 =

(j) 1 frozen dinner at $8.60 =

2.

Calculate the total GST at 10% of all of the items above in question 1.

3.

Calculate and add the GST to the following manufactured items.

Manufactured item

Cost

Cost including GST

(a) TV

$499.00

(b) Laptop computer

$650.00

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C.Publ i cat i ons (d) Calculator •f orr evi ew pur posesonl y• (e) Ceiling fan (c) CD player

$85.00

$224.00 $135.00

(f) PlayStation®

$539.00

(g) iPad®

$385.00

(h) Coffee machine

$890.00

4.

Calculate and add the GST to these services.

Service

Cost per hour

Time

(a) Car mechanic

$65.00

2 hours

(b) Air conditioning repair

$80.00

11/2 hours

(c) Electrician

$90.00

3 hours

(d) Plumber

$75.00

2 hours

(e) Labourer

$40.00

8 hours

(f) Waitress

$45.00

4 hours

(g) Solicitor

$250.00

2 hours

(h) Computer technician

$120.00

31/2 hours

Cost plus GST

GOING FURTHER If you were to purchase one of each item from question 3, what total GST would you be paying?

70 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Budgeting with percentages

YEAR

6

One way of budgeting and saving is to put aside a percentage of your income.

1.

Look at the incomes below and work out what each person would save over one year if he or she put aside 10% each month.

Person

Monthly income

(a) Reece

$750.00

(b) Abby

$900.00

(c) Faith

$580.00

(d) Jack

$1500.00

(e) Siobhan

$850.00

(f) Igor

$620.00

(g) Marcus

$910.00

(h) Helena

$1200.00

(i) Liam

$1800.00

(h) Adele

$1950.00

10%

Saving over 1 year 10% x 12 =

2.

Use a calculator to work out what each person above would save each month if he or she put aside a greater percentage of their income.

© R. I .

C.Publ i cat i ons (a) Reece (b) Abby •f orr evi ew pur posesonl y• Person

Monthly income

15%

20%

25%

30%

$750.00 $900.00

(c) Faith

$580.00

(d) Jack

$1500.00

(e) Siobhan

$850.00

(f) Igor

$620.00

(g) Marcus

$910.00

(h) Helena

$1200.00

(i) Liam

$1800.00

(h) Adele

$1950.00

3.

Use the information above to answer the following questions. (a) How much would Abby save if she put aside 25% of her income over 1 year? (b) How much would Jack save if he put aside 15% of his income over 1 year? (c) How much would Helena save if she put aside 20% of her income over 1 year? (d) How much would Marcus save if he put aside 30% of his income over 1 year?

GOING FURTHER If Liam saved $6480.00 over one year, what percentage of his income did he save each month?

ISBN 978-1-925431-18-6

71 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

Assessment 1

YEAR

6

1. Fractions, decimal and percentages are all related. Fill in the missing fractions, decimals and percentages on this number line divided by tenths.

0

1 10

0

0.1

3 10

6 10

0.2

0

0.4

20%

9 10

0.5

0.7

30%

1.0

60%

80%

2.

Fill in the missing fractions, decimal hundredths and percentages on each table below.

Fraction

Decimal

15 100

0.15

(a) (b)

Percentage

73 100

(d)

48%

(h)

73%

(i)

0.06

0.81 3% 34 100

62%

(k) 56%

(f)

Percentage

(j)

29 100

(e)

Decimal

(g)

0.48

(c)

Fraction

0.07 95 100

(l)

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3.

Add up the receipts/invoices to find the subtotal, add 10% GST, then write the total.

Receipt 1

Receipt 2

1 towel

$22.50

1 choc box

1 hand towel

$12.50

1 flowers

1 bath mat 1 face washer

$19.50 $4.50

Receipt 3

$12.50

Cut and remove tree

$450.00

Brush $8.00

1 card

$4.99

Grind stump

$95.00

Flea treatment $12.50

1 gift wrap

$2.50

Prune hedge $160.00

Walk $10.00

Trim edges

New collar

1 bow

$8.99

Receipt 4

99c

Dog shampoo $15.00

$50.00

Subtotal:

Subtotal:

Subtotal:

Subtotal:

+10% GST:

+10% GST:

+10% GST:

+10% GST:

Total:

Total:

Total:

Total:

$21.00

4.

Solve the following problems about a group of 100 students. (a) If 46% are boys, what fraction are girls? (b) If

79 100

have dark hair, what percentage have light hair?

(c) If 0.36 don’t travel to school by car, what fraction do go by car? (d) If 52% are under 8 years old, what decimal number are over 8 years old?

5.

What fraction, decimal and percentage of girls and boys are there in your class today?

72 • AUSTRALIAN CURRICULUM MONEY (BOOK 3) • R.I.C. Publications® www.ricpublications.com.au

ISBN 978-1-925431-18-6

Assessment 2

YEAR

6

1.

Add 10% GST to these prices to find the new total. (a) $4.50 +

=

(b) $0.80 +

=

(c) $5.60 +

=

(d) $9.20 +

=

(e) $12.00 +

=

(f) $25.00 +

=

(g) $53.00 +

=

(h) $97.50 +

=

(i) $165.00 +

=

2.

Use a calculator to work out the specified percentage of each amount.

(a) 5% of $50.00 (50 x 5%) = (c) 30% of $40.00 (40 x 30%) =

(b) 40% of $6.00 (6 x 40%) =

(d) 25% of $70.00 (70 x 25%) =

(e) 80% of $120.00 (120 x 80%) =

(f) 60% of $180.00 (180 x 60%) =

(g) 15% of $300.00 (300 x 15%) =

(h) 70% of $420.00 (420 x 70%) =

3.

Calculate the percentage off and new price at the sale below.

ICAL ELECTR CES N APPLIA F 5% OF

DINNE

R SET S 10% OF F

TOWELS 20% OFF

CUSHIO NS 50% OF F

G BEDDIN F F O 25%

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(a)

16-piece dinner set $60.00

Iron $48.00

2 x bath towels @ $22.00 each

Queen quilt cover $80.00

Discount (saving)

Discount (saving)

Discount (saving)

Discount (saving)

New price

New price

New price

New price

(e)

(f)

4 cushions @ $15.00 each

(g)

Blender $90.00

(h)

2 x dinner sets @ $75.00 each

Single bed quilt cover @ $70.00 and sheet set @ $40.00

Discount (saving)

Discount (saving)

Discount (saving)

Discount (saving)

New price

New price

New price

New price

4.

If you were to purchase all of the items listed above (a to h) at the discount price and put them on a credit card which charges 20% interest, what would you end up paying for all these items?

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