• vat • budgets • accounts • loans • simple interest • hire purchase.


Background information


In Grade 8 the learners learnt to solve problems that involve whole numbers, percentages and decimal fractions in financial contexts.


Exercise 1 Guidelines on how to implement this activity


• Establish what the learners remember of concepts they learnt in Grades 7 and 8 by asking questions that require the learners to give simple examples of profit, loss, discount etc.


• Demonstrate the Worked examples (about profit and loss) on the board. • Let the learners do Questions 1 to 3 of Exercise 1 and monitor their progress. Demonstrate the Worked example (about budgeting) and then let the learners do Questions 4 and 5 of Exercise 1.


Suggested answers 1


2.1


Profit = 20 − 12,5 = R7,50


Percentage profit = 7,50


2.2 Percentage loss = 250 3


4.1 Income Item 120 adult tickets @ R20 each


250 learner tickets @ R10 each 80 pre-school tickets @ R5 each


Total income Total He made a loss as the selling price is R250 less than the cost price.


_____ 12,50 × 100


___ 1 = 60%


Income on sold packs = 280 × 29,99 = R8 397,20 Profit = 8 397,20 − 7 500 = R897,20


___ 750 × 100 = 33,33%


Budget for a concert Expenses Item


R2 400,00 Material for costumes (140 m @ R8,20/m)


R2 500,00 370 programmes @ 80c each


R400,00 Flowers for the music and art teachers Paint for scenery Other


R5 300,00 Total expenses Total R1 148,00


R296,00 R50,00 R75,50


R200,00 R1 769,50


4.2 Profit = total income – total expenses 4.3 To cover any other expenses not listed in the previous categories, as well as any unexpected expenses.


Chapter 1: Numbers and integers 47 Learner’s Book page 43


CHAPTER 1


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