Topic 4 of 8 · Grade 7
Money and consumer arithmetic
Add, subtract, multiply and divide amounts of money; change; shopping bills.
Notes for this topic 1 file, in order
Create a free account to download PDFs.
Working with money
Add, subtract, multiply and divide amounts of money; change; shopping bills.
Worked example: Rudo buys 3 exercise books at $1.25 each and a pen at $0.60. How much change does she get from $5?
3 × 1.25 = 3.75; 3.75 + 0.60 = 4.35; change = 5.00 − 4.35 = $0.65
Profit and loss
Profit = selling price − cost price. Loss = cost price − selling price.
Worked example: A vendor buys tomatoes for $8 and sells them for $11. Find the profit.
11 − 8 = $3 profit
Discount
A reduction in price. A $40 shirt with 10% discount costs 40 − 4 = $36.
Simple interest
Interest = Principal × Rate × Time ÷ 100.
Worked example: Find the simple interest on $200 at 5% per year for 3 years.
200 × 5 × 3 ÷ 100 = $30
Budgets
Planning how to spend money: list income and expenses, and save some money.
Check yourself
- Find the cost of 4 loaves at $1.10 each.
- A bicycle bought for $120 is sold for $100. Find the loss.
- What is a 25% discount on $60?
Show answers
- $4.40
- $20
- $15 (new price $45)
Questions about this topic (0)
No questions about this topic yet.
Sign in or create a free account to join in.