1. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Money Foreign Exchange Best Buys www.mathsrevision.com Best Service Credit and Debit Cards Best Contract

2. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com If a = 7 b = 4 and c = 10 Write down as many equations as you can e.g.a + b = 11

3. MNU 3-03a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Learning Intention Success Criteria 2.Convert £’s to another currency and vice versa. 1.We are learning how to convert £’s to another currency and vice versa. 1.Understand the term exchange rate and the proportion method. Foreign Currency Converting to another currency

4. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Foreign Currency Up until 1 st January 2002, all the countries in Europe had their own type of money (currency). The euro was introduced and the other currencies were no longer accepted. Britain still uses the pound (£) and when you go to Europe on holiday you have to change your pounds to euros. A euro is divided into 100 parts and each part is called a cent Converting to another currency

5. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Foreign Currency Euro € Dollar $ 1.44 1.51 Yen190 Exchange rate £1= Example :How many euros will I get for £100. Converting to another currency Proportion method £ € 1  1.44 100 Are we expecting more or less (more)

6. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Level 2 Foreign Currency Euro € Dollar $ 1.44 1.51 Yen190 Exchange rate £1 = Example : How many Dollars will I get for £50. Converting to another currency Proportion method £ $ 1  1.51 50 Are we expecting more or less (more)

7. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Foreign Currency Euro € Dollar $ 1.44 1.51 Yen190 Exchange rate £1 = Example : A iPod costs £300 in Scotland and 420 € in Spain. Which is the better buy ? Should buy in Spain and save 12 € Converting to another currency Proportion method £ € 1  1.44 300 Are we expecting more or less (more)

8. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Foreign Currency Euro € Dollar $ 1.44 1.51 Yen190 Exchange rate £1= Example :How many £’s will I get for 20 €. Converting back to £’s Proportion method € £ 1.44  1 20 Are we expecting more or less (more)

9. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Foreign Currency Euro € Dollar $ 1.44 1.50 Yen190 Exchange rate £1 = Example : A business man returns from America with $450. He converts them back to £’s. How much will he get back ? Converting back to £’s Proportion method $ £ 1.50  1 450 Are we expecting more or less (more)

10. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Now try TJ3b Ex 1 Ch2 (page 13) www.mathsrevision.com Money

11. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com 1.Two numbers add to give 12 and divide to give 3. Find the two numbers. 2. Two numbers subtract to give 5 and multiply to 24. Find the two numbers. 3. Make your own question up.

12. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1.De able to compare deals by finding the cost per unit. 1. We are learning to calculate the best deal for everyday items. Best Deal Money Management

13. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for Soap Powder ? Deal 1 - Proportion method g £ 350  10.50 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2 350g250g £10.50£10.00

14. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for Soap Powder ? Deal 2 - Proportion method g £ 250  10.00 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2 350g250g £10.50£10.00 Deal 1 is Best only 3p per gram

15. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for Petrol. Deal 2 - Proportion method l £ 60  65.40 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2 60 litres38 litres £65.40£40.66

16. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for Petrol. Deal 2 - Proportion method l £ 38  40.66 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2 60 litres38 litres £65.40£40.66 Deal 2 is Best £1.07 per litre

17. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for tennis balls ? Deal 1 - Proportion method T £ 10  5.40 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2Deal 3 10 balls15 balls48 balls £5.40£7.50£24.48

18. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for tennis balls ? Deal 2 - Proportion method T £ 15  7.50 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2Deal 3 10 balls15 balls48 balls £5.40£7.50£24.48

19. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ex : What is the best deal for tennis balls ? Deal 3 - Proportion method T £ 48  24.48 1 Are we expecting more or less (less) Best Deal Money Management Deal 1Deal 2Deal 3 10 balls15 balls48 balls £5.40£7.50£24.48 Deal 2 is Best £0.51 per ball

20. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Now try TJ3b Ex 2 Ch2 (page 15) www.mathsrevision.com Best Deal Money Management

21. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com

22. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1.Be able to compare deals by calculating over cost. 1. We are learning to calculate the best deal for service items. Best Deal Service

23. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Why would you need to call out a electrician, joiner, plumber etc......... Best Deal Service No Power Broken front door Burst Pipe These types of jobs work for the Service Industry. They serve the general public.

24. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com The cost of work carried out by these professions are broken into two parts: Best Deal Service Call out charge:To come out to investigate problem Hourly rate:Cost per hour worked to complete job.

25. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com I have a bust pipe in by house. I get two quotes to fix the problem. The job should take 3 hours to fix. Best Deal Service Mr Fix -ItEasy-job Call-out Charge£30£70 Hourly -rate£32£20 Who should I pick ? Mr Fix-It = 30 + 3 x 32 = Easy-job = 70 + 3 x 20 = BODMAS £126 £130 Mr Fix-It

26. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Turns out that the job will take 5 hours. Best Deal Service Mr Fix -ItEasy-job Call-out Charge£30£70 Hourly -rate£32£20 Who should I pick ? Mr Fix-It = 30 + 5 x 32 = Easy-job = 70 + 5 x 20 = £190 £170 Easy-job

27. Electrician Job Rate The cost for hiring a electrician per hour is shown in graphical form. (a)What is his call-out fee (b)What is his hourly rate. (c)What is the total cost for a 6 hours job. (0,30) £30 Total C = 30 + 6 x 10 = £90 £10

28. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Now try TJ3b Ex 3 Ch2 (page 17) www.mathsrevision.com Best Deal Service

29. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com

30. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1.Understand and compare contract deals. 1. We are learning about best contract deal. Best Deal Rates & Contracts 2. Be able to choose best contract deal by estimating usage.

31. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Most people have a contract for there mobile phone, internet and TV provider Best Deal Rates & Contracts Can you name some Providers Sky, BT, Virgin-Media etc... Contracts can be very confusing ! You can save ALOT of money if you do the maths. Why ?

32. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com I have just come back from a Holiday in Coney Island New York. I want to convert $500 back to £’s. Best Deal Rates & Contracts Exchange Rate Rate-R-Us0.85 Super-Rates0.80 Who gives the best value and by how much to nearest penny ?

33. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com (Rate-R-Us) - Proportion method $ £ 1.55  1 1 Are we expecting more or less (more) Best Deal Rates & Contracts Ex. Rate (per £) Rate-R-Us1.55 Super-Rates1.50

34. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com (Super-Rates) - Proportion method $ £ 1.50  1 1 Are we expecting more or less (more) Best Deal Rates & Contracts Ex. Rate (per £) Rate-R-Us1.55 Super-Rates1.50 Super-Rates by £0.75

35. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Ethan wants to put some money into the bank. He has two options. He has £3000 to invest. Best Deal Rates & Contracts APR % Bank of Mr Lafferty3.5 Bank for Money3 Who gives the best value and by how much after one year ? APR means Annual Percentage Rate

36. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Best Deal Rates & Contracts APR % Bank of Mr Lafferty3.5 Bank for Money3 3.5 100 x 3000 =£105 x 3000 =£90 Total in Bank £3105Total in Bank £3090 Best Deal is Bank of Mr Lafferty by £15 3 100

37. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Best Deal Rates & Contracts ProviderFree minutes Free Text Internet Usage Contract months Cost per month O4O4 120300Unlimited12£9 Talkie180500Unlimited24£15 Blue5003000Unlimited18£25 V-Mobile1005000Unlimited12£30 Foney1000Unlimited 12£40 Below is a typical set of contracts for a mobile phone Tom uses very little calls or internet but sends 10 texts a day. What tariff is best ? Caitlin loves to be online, calls her friend 10 minutes per day and sends 80 texts a day. What tariff is best ? Paul is always looking for the best deal. He uses 5 minutes per day on calls, 11 texts per day and lots of online searches. What tariff is best ?

38. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Now try TJ3b Ex 4 Ch2 (page 19) www.mathsrevision.com Foreign Currency

39. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Starter Questions Starter Questions www.mathsrevision.com The answer to the question is 60 Write down as many questions as you can

40. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Learning Intention Success Criteria 1. We are learning about Credit & Debit Cards. 1. Understand the key differences between Debit and Credit Cards. Credit & Debit Cards

41. 9-Dec-15Created by Mr. Lafferty Maths Dept. www.mathsrevision.com Buying with with your money Credit & Debit Cards They look the same But they work very differently ! Buying with the banks money Normally no charge % charge each month on burrowed money Not insured for transactions online Insured for transactions online In pairs discuss the good and bad points of each. Very easy to get into serious debit

42. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Best Deal Rates & Contracts Example : During one month, John owes £2000 on his Credit Card at an APR of 30%. APR means Annual Percentage Rate (a)Assuming he does not buy anything more with his credit card, how much will he owe the bank at the end of the month. 2.5 100 x 2000 = £50Total now owed = £2050

43. MNU 3-09a 9-Dec-15Created by Mr.Lafferty Maths Dept www.mathsrevision.com Best Deal Rates & Contracts (b) Assuming he does not buy anything during the rest of the year with his credit card and does not pay anything off, how much will he owe the bank at end of the year. 30 100 x 2000 = £600 Total now owed = £2600 True value nearer £2689.78 Do you think this is correct ? OR12 x 50 = £600

44. MNU 3-09a 9-Dec-15Created by Mr. Lafferty Maths Dept. Now try TJ3b Ex 5 Ch2 (page 21) www.mathsrevision.com Money Have you updated your Learning Log ?