Profit practice

# money

## Computation Word Problem

At a popular restaurant, most customers order three types of meals. Calculate the product for each meal order.

Calculate the following meal orders.

## More Practice

Exercises

## Comparing Ratios

Increase your understanding of proportional situations with these exercises.

Here is an activity to consider before you attempt this quiz. This question can be discussed in class as well.

Observe the two pitchers below. Assume that each pitcher is filled with the same amount of lemonade. The little squares indicate the amount of water and lemonade concentrate used to prepare each pitcher of lemonade.

Which pitcher will have the stronger lemon flavor, or will they be the same?

Read the following questions carefully before answering.

## Equivalent Ratios

Proportions can be solved the same way as finding equivalent fractions. Examples.

^{2}⁄

_{3}:

^{?}⁄

_{6}

^{2}⁄_{3} = ^{2}⁄_{3} x ^{2}⁄_{2} =** **^{4}**⁄**_{6}

Exercises

## Currency

The following is a list of some exchange rates you will use in the following exercises. The Exchange rates will be approximated for simple calculation.

$6.78 TTD = $1 USD

$0.95 TTD = ¥1 CNY

$1 TTD = $30.8 GYD

$1 BBD = $3.36 TTD

$1 ECD = $2.51 USD

£ 1 GBP = $1.29 USD

**Exercises**

Read each question carefully before answering.

## Wages 3

Sometimes a worker may need to work extra hours to get the job done. These hours might go into the workers off days or even public holidays. When this happens, the hourly rate of pay is adjusted at a higher rate than what is paid for normal working hours. Thus the worker may now be paid at what is referred to as “time and a half” or “double time”

Example

Kurt works Monday to Friday for 8 hours each day at a rate of $15.00 an hour. He was called out to work on Sunday and was paid double time for the 6 hours he worked. Calculate the wage he received.

Monday to Friday is 5 days. So Kurt worked 5 x 8 = 40 hours

Therefore: Weekly wages (Monday to Friday) = 40 hrs x $15.00 = $600.00

Overtime paid = 6 hrs x 2 x$15.00 = $180.00

**Total wages for the week** = $600.00 + $180.00 = **$780.00**

**Practice Exercises**

## Wages 2

Practice.

## More Rates

Exercises.

## Percentage 3

When you are solving word problems, change the percent to a decimal. Always express your answer in a short statement.

Example:

James has competed in 80 marathons. He has won 60% of all the races he ran. How many races did James win? How many races did James lose?

** Answer**:

Find 60% of 80 marathons = 0.6 x 80 = 48 races

James won 48 races.

James lost: 80 – 48 = 32 races

** Note**: James lost 100% – 60% = 40% races

Therefore, 40% of 80 = 0.4 x 80 = 32 races

*Exercises*

## Percentages 1

Percentages can be expressed as common fractions. Percent means “*per hundred*” or “*hundredths*“,

Percents can be easily changed to decimals as well.

So far: 12% is also 0.12 | 8% is also 0.08

Exercises

## Simple Rates

Sometimes we are charged for using some services by the minute, hour, day, week, month, or year.

**Example 1:**

AC car Rental charges $30.00 daily for the rental of their economy vehicles. How much would Linda pay to rent a car for 2 days?

**Linda would pay = $30.00 x 2 days = $60.00**

**Example 2:**

DC DVD Rental charges $5.00 per DVD movie for a week of rental. Martin is borrowing 4 DVD movies for a week. How much does Martin pay?

*Martin’s rental for the 4 DVD movies = 4 x $5.00 per week = $20.00*

Exercises.

## More Bills 1

There are also bills that are calculated according to usage or consumption amounts such as telephone, electricity, and even water.

** Example**:

Below show a calculation for Mr. Browne’s telephone bill.

*Exercises*

## Simple Bills

Every time you buy an item, you are given a bill. Most bills are very easy to understand. You must read you bill when you make a purchase, so you are billed correctly. However, if you are selling an item, you will need to produce a bill for the customer. So bills are important for both the customer and the seller.

This section focuses on making simple bills.

*Example of a simple bill.*

Exercises

## Finding Cost

All items have an attached cost price. A bottle of juice could cost $10.00.

We can also work out the price of an item in many other ways.

** For example**:

If June paid $37.14 online for 6 cartons of milk, how much does one cost?

We need to buy five wedges of cheese to make pizza for the Family Day. One wedge of cheese cost 50 dollars. How much money would I need to buy the 5 blocks of cheese.

Source pictures

## Addition and Subtraction 2

The following are practice exercises for adding and subtracting money amounts of less than $1000.

## Addition and Subtraction 1

The following are practice exercises for adding and subtracting money amounts of less than $100.

## Review

How well did you understand this lesson?

## Basic Money Skills 2

The following exercises focuses on identifying the equivalence of coins and making change.

## Basic Money Skills 3

The following exercises focuses on identifying the equivalence of coins and making change.

Exercises

## Basic Money Skills 1

The following exercises focuses on using coin values.

You should note the following:

- A penny is one cent
- A dime is 10 cents
- A nickle is 5 cents
- 1 quarter is 25 cent
- 5 pennies make a nickle or 5 cents
- Two nickles makes 10 cents
- Two dimes and a nickle is a quarter.
- A dollar is equal to 100 cents or 100 pennies.