Money and Financial Maths

Find the cost of the four notebooks first.

Work out the cost of each item first, then add.

Money paid in is added; money paid out is taken away.

Multiply the hourly rate by the number of hours.

Split the 40 hours into the hours at each rate.

Profit is the money from selling take away the money spent buying.

1. Profit on each mug: 4.50-2.15=2.35, so £2.35.
2. Profit on 40 mugs: 40\times2.35=94.
3. The shop makes £94 profit. (Or: takings £180 take away cost £86 is £94.)

He sold the car for less than he paid. Find the difference.

1. Kofi sold the car for less than he paid, so he made a loss.
2. Loss =4750-3980=770.
3. Kofi made a loss of £770.

Find 20% of £320, then add it on.

1. 10\% of £320 is £32, so 20\% is £64.
2. Total cost: 320+64=384.
3. The washing machine costs £384.

First work out how much of her pay is taxed.

1. Money that is taxed: 18\,500-12\,570=5930, so £5930.
2. Tax: 20\% of £5930 =0.2\times5930=1186.
3. Ellie pays £1186 tax.

Find 10% and 5% of £950, then add them.

1. 10\% of £950 is £95, and 5\% is half of that, £47.50.
2. 15\%=95+47.50=142.50.
3. The deposit is £142.50.

Take off the £140 first, then share what is left between the 12 months.

1. Amount left to pay: 860-140=720, so £720.
2. Each payment: 720\div12=60.
3. Each monthly payment is £60.

Work out the standing charge for 30 days and the cost of 210 kWh separately, then add.

1. Standing charge: 30\times45=1350p, which is £13.50.
2. Electricity used: 210\times28=5880p, which is £58.80.
3. Total bill: 13.50+58.80=72.30. The bill is £72.30.

Find the cost of the food first, then add up all the costs.

1. Food: 24\times12.50=300, so £300.
2. Total spent: 185+300+64.99=549.99, so £549.99.
3. Left: 600-549.99=50.01. She has £50.01 left.

Find his total cost and his profit, then write the profit as a percentage of the total cost.

1. Total cost: 20+12=32, so £32.
2. Money from selling: 50\times0.80=40, so £40.
3. Profit: 40-32=8, so £8.
4. Percentage profit: \frac{8}{32}\times100=25.
5. Ivan makes a 25\% profit.

Work out 4% of £38 000, then add it to her basic pay.

1. Bonus: 4\% of £38 000 =0.04\times38\,000=1520, so £1520.
2. Total pay: 1450+1520=2970.
3. Grace's pay for June is £2970.

Work out the total cost and the total money from sales, then compare them.

Part (a)

1. 45 umbrellas at £9: 45\times9=405, so £405.
2. The rest: 80-45=35 umbrellas at £3: 35\times3=105, so £105.
3. Total: 405+105=510. Lucy gets £510.

Part (b)

1. Total cost: 80\times6.50=520, so £520.
2. She gets £510, which is less than £520.
3. 520-510=10, so Lucy makes a loss of £10.

First find how much bonus Tom needs on top of his basic pay. That amount is 3% of the value of his sales.

1. Bonus needed: 570-420=150, so £150.
2. £150 is 3\% of his sales, so 1\% is 150\div3=50.
3. 100\% is 50\times100=5000.
4. Check: 3\% of £5000 is £150, and 420+150=570.
5. Tom needs to sell sofas worth at least £5000.

Take off the standing charge for 90 days. What is left is the cost of the gas used.

1. Standing charge: 90\times0.32=28.80, so £28.80.
2. Cost of the gas used: 86.40-28.80=57.60, so £57.60, which is 5760p.
3. Gas used: 5760\div6=960.
4. Ana used 960 kWh of gas.

Add the VAT first. Then take off the £900 and share what is left between the 12 months.

Part (a)

1. VAT: 20\% of £3750 =0.2\times3750=750, so £750.
2. Total cost: 3750+750=4500. The kitchen costs £4500.

Part (b)

1. Amount left after paying £900: 4500-900=3600, so £3600.
2. Each month: 3600\div12=300.
3. Hana pays £300 each month.

Find the total Owen needs to take, then divide by 40. Think carefully about which way to round.

1. 25\% of £58 is 0.25\times58=14.50, so he needs to take at least 58+14.50=72.50.
2. Price per candle: 72.50\div40=1.8125, so £1.8125.
3. £1.81 is not enough: 40\times1.81=72.40, which is less than £72.50.
4. So round up to the next penny. 40\times1.82=72.80, which is enough.
5. The lowest price is £1.82.