Number Skills in Context

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Questions and Answers

A clothing store marks up its items by 40%. If a jacket has a cost price of $80, what is the selling price?

  • $96
  • $112 (correct)
  • $120
  • $100

An investor deposits $5,000 into an account with a 6% annual interest rate compounded semi-annually. What is the investment's worth after 3 years?

  • $5,978.00
  • $5,955.08
  • $5,993.41 (correct)
  • $5,985.00

A computer originally priced at $1200 is on sale for $1020. What is the percentage discount applied to the computer?

  • 22%
  • 20%
  • 15% (correct)
  • 18%

A $20,000 car loan has a simple interest rate of 7% per year. If the loan is for 5 years, what is the total amount of interest paid over the life of the loan?

<p>$7,000 (D)</p> Signup and view all the answers

An item's price increases from $25 to $28. What is the percentage increase in the item's price?

<p>12% (A)</p> Signup and view all the answers

After a discount of 15%, the sale price of an item is $68. What was the original price of the item?

<p>$80 (C)</p> Signup and view all the answers

A store buys an item for $40 and marks it up by 60%. Later, they offer a 20% discount on the marked-up price. What is the final sale price?

<p>$51.20 (D)</p> Signup and view all the answers

A baker can prepare and sell a cake for $C. The ingredients cost $2, and the oven uses 4 kWh of electricity. If power costs $b per kWh, what is the baker's profit?

<p>$C - 2 - 4b (B)</p> Signup and view all the answers

What is the reciprocal of $2\frac{3}{5}$?

<p>$\frac{5}{13}$ (B)</p> Signup and view all the answers

Identify which of the following is NOT a rational number.

<p>$\sqrt{5}$ (D)</p> Signup and view all the answers

Which expression best describes the equivalent of $\frac{5}{8} + \frac{2}{3}$?

<p>$\frac{31}{24}$ (A)</p> Signup and view all the answers

Simplify the ratio 36:48 into its simplest form.

<p>3:4 (D)</p> Signup and view all the answers

A map has a scale of 1:50000. Two cities are 8 cm apart on the map. The actual distance between the cities, in kilometers, is:

<p>4 km (B)</p> Signup and view all the answers

A store is having a 20% off sale. If you spend over $100, you get an additional 10% off the discounted price. If an item is originally priced at $150, what will you pay?

<p>$108 (C)</p> Signup and view all the answers

Jenny makes 10% commission on the first $5000 in sales, and 15% on the rest. If she had $9000 in sales, what is her total commission?

<p>$1100 (B)</p> Signup and view all the answers

The tax brackets are 0% for $0 - $18000 and 20% for every dollar over $18000. What is the value of x for a person with taxable income of $20,000?

<p>$400 (B)</p> Signup and view all the answers

What number should replace the question mark? 3 : 5 = ? : 25

<p>15 (D)</p> Signup and view all the answers

If the exchange rate is 1 AUD = 0.65 USD, how many Australian Dollars would you need to get 130 US Dollars?

<p>200 AUD (C)</p> Signup and view all the answers

An investor purchases stocks A and B. Stock A increases by 10% while stock B falls by 10%. If the initial investment in each stock was the same, What is the overall percentage increase in the total investment?

<p>0% (C)</p> Signup and view all the answers

Joe makes $20 per hour and has to pay $1000 in rent. What is the minimum of hours per month he needs to work to pay his rent?

<p>50 hours (A)</p> Signup and view all the answers

A town grows from size 1000 with a percent increase of 5 percent per year. What is the population of the town after three years, rounding to the nearest whole number?

<p>1157 (C)</p> Signup and view all the answers

A real estate salesman sells a $500,000 house and makes a commission rate of 3%. It takes him 40 hours of work to prepare the house, show it, show it, and close the sale. What was his hourly income?

<p>$375 per hour of work (C)</p> Signup and view all the answers

Which of the following is NOT a step in making tea for profit?

<p>Sell to upscale clients (A)</p> Signup and view all the answers

What number comes next in the following series? 1/2, 3/4, 5/6, ?

<p><code>7/8</code> (B)</p> Signup and view all the answers

A store offers a loyalty program where customers get 5% cash back on purchases. If a customer spends $200 this month and $300 next month, how much cashback will they accumulate?

<p>$25 (C)</p> Signup and view all the answers

What is the formula for calculating simple interest?

<p>$I = Prn$ (A)</p> Signup and view all the answers

Flashcards

What is computation?

Using mathematical operations (addition, subtraction, multiplication, division)

What is a ratio?

A comparison of two quantities showing their relative sizes

What is a rate?

A ratio that compares two quantities with different units.

What is factor?

Breaking down a number into its component parts

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What is the highest common factor (HCF)?

The largest number that divides exactly into two or more numbers

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What is the lowest common multiple (LCM)?

Smallest number that is a multiple of two or more numbers

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What is a prime number?

A whole number greater than 1 that has only two factors, 1 and itself

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What is a composite number?

Whole number greater than 1 with more than two factors

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What is 'Order of operations'?

The order in which mathematical operations should be performed

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What are integers?

All positive and negative whole numbers, including zero (... -2, -1, 0, 1, 2...)

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What are significant figures?

The digits in a number that carry meaning contributing to its precision

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What are rational numbers?

Numbers that can be expressed as a fraction p/q, where p and q are integers

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What are irrational numbers?

Numbers that cannot be expressed as a fraction and have non-repeating decimals

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What is a fraction?

Parts of a whole number; top (numerator), bottom (denominator)

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What is a mixed numeral?

A number consisting of a whole number and a fraction

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What are equivalent fractions?

Having the same value ex: 1/2 and 2/4

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What are proper fractions?

Fractions where the numerator is less than the denominator

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What are improper fractions?

Fractions where the numerator is greater than or equal to the denominator

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What is a common denominator?

Using the same denominator to compare fractions

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What is a recurring decimal?

A decimal number with a repeating pattern of digits

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How can you simplify fractions?

Multiplying the numerator and the denominator by their highest common factor

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How to cancel or simplify a fraction?

Dividing numerator and denominator by the same number

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What is a ratio in simplest form?

Simplest form of a ratio has whole numbers with no common factor

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What is the unitary method?

Finding what one part is worth in a total

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What is rate?

Compares quantities with different units

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What is 'best buys'?

Locating the best deal; buying for less

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What does 'per cent' mean?

Out of one hundred

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How to express a number as a percentage?

Fraction or decimal multiplied by 100

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What does 'percentage of a number' mean?

Multiply by the percentage as a decimal

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What is percentage change?

A formula to calculate this involves % change = change / initial price

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What is profit in math?

The amount of money made

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What is mark-up?

The amount added to cost price to get selling price

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What is discount in math?

Money is taken off the usual price

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What is a wage?

Workers are paid a fixed amount a certain rate per hour worked

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What is a salary?

Employees are paid a monthly amount or bi-weekly amount.

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What is 'time and a half'?

Pay that is 1.5 times the usual hourly rate

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What is double time?

Pay is double the usual rate times the hourly rate

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What is a commission?

A % of sales amount

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What is taxable income?

Total income made over the period of a year minus any deductions.

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Study Notes

Number Skills in Context

  • Number skills are essential for algebra, university, college, professions, trades, and home renovation success.
  • Jewellers mix gold with metals in ratios such as 15:17:8 (gold:silver:copper) for strength.
  • Medical scientists in pathology labs use ratio skills when preparing reagents.
  • Nurses use percentages, fractions, and rates to calculate medication dosages.
  • Chefs use decimals, percentages, and ratios for recipe scaling and temperature conversions.
  • Farmers utilize rate calculations such as pump flow, drip irrigation, and travelling irrigator rates to efficiently manage water.
  • Number skills enable calculation of weekly pay increases after tax and car price increases including interest.

Chapter Contents Summary

  • 1A Computations with integers (CONSOLIDATING): Working with integers.
  • 1B Decimal places and significant figures: Rounding decimals and figures.
  • 1C Rational numbers (CONSOLIDATING): Simplifying rationals
  • 1D Computation with fractions (CONSOLIDATING): Working with fractions.
  • 1E Ratios, rates and best buys (CONSOLIDATING): Comparing rates
  • 1F Percentages and money (CONSOLIDATING): Calculations wit percentages
  • 1G Percentage increase and decrease (CONSOLIDATING): Performing calculations with percentages
  • 1H Profits and discounts (CONSOLIDATING): Making profits and discounts using calculations
  • 1I Income: Understanding income.
  • 1J The PAYG income tax system: Calculating income tax.
  • 1K Simple interest: Working with simple interest
  • 1L Compound interest and depreciation: Calculating compound interest and depreciation
  • 1M Using a formula for compound interest and depreciation: Utilizing a formula for simple interest

NSW Syllabus Covered

  • Develop mathematical skills through exploring concepts and applying techniques to solve problems, while communicating reasoning.
  • Solve financial problems related to simple interest, earning, and spending (MA5-FIN-C-01).
  • Tackle financial problems involving compound interest and depreciation (MA5-FIN-C-02).

Online Resources

  • Interactive textbook includes HOTmaths content, video demonstrations and auto-marked quizzes.

1A: Computations with Integers

  • Learning intentions include knowing rules for operations with negative numbers, powers, roots and order of operations.
  • Math knowledge is consolidated to be used in later stages
  • Egyptian hieroglyphics recorded whole numbers and fractions.
  • Babylonians used a base-60 place-value system.
  • Ancient Chinese and Indians used negative numbers.
  • The current base-10 decimal system includes positive/negative numbers, fractions, and irrational numbers.
  • Real numbers include all numbers except imaginary numbers.

Key Ideas - Integers

  • Integers: ..., -3, -2, -1, 0, 1, 2, 3, ...
  • a + (-b) = a - b (e.g., 5 + (-2) = 3)
  • a - (-b) = a + b (e.g., 5 - (-2) = 7)
  • a × (-b) = -ab (e.g., 3 × (-2) = -6)
  • -a × (-b) = ab (e.g., -4 × (-3) = 12)
  • a ÷ (-b) = -a/b (e.g., 8 ÷ (-4) = -2)
  • -a ÷ (-b) = a/b (e.g., -8 ÷ (-4) = 2)
  • a² = a × a, √a² = a (if a ≥ 0) (e.g., 6² = 36, √36 = 6)
  • a³ = a × a × a, √a³ = a (e.g., 4³ = 64, √64 = 4)
  • Lowest Common Multiple (LCM): The smallest multiple shared by two numbers. LCM of 6 and 9 is 18.
  • Highest Common Factor (HCF): The largest factor shared by two numbers. HCF of 24 and 30 is 6.
  • Prime numbers have only two factors: 1 and itself. The number 1 is not considered prime.
  • Composite numbers have more than two factors.
  • Order of Operations: Brackets, Indices, Multiplication/Division (left to right), Addition/Subtraction (left to right).

1B: Decimal Places and Significant Figures

  • Numbers are rounded based on required accuracy levels.
  • Decimal places used to round off numbers, like timing a 100 m sprint in 9.94 seconds.
  • Civil engineers are able to design a road cutting accurately with calculations to two or three significant figures.

Key Ideas - Rounding

  • To round to a required decimal place, locate the digit and consider the next (critical) digit.
  • Round down if the critical digit is 4 or less; round up if 5 or more.
  • Ex: 1.543 rounds to 1.54, and 32.9283 rounds to 32.93 (two decimal places).

Key Ideas - Signifigant Figures

  • To round to a required number of significant figures:
    • Locate the first non-zero digit.
    • Count the required number of digits including zeros.
    • Stop and round the last digit; replace non-significant digits to the left of the decimal with zeros.
  • Ex: 2.5391 ≈ 2.54, 0.002713 ≈ 0.00271, and 568810 ≈ 569000 (all rounded to three significant figures

1C: Rational Numbers

  • Around 500 BCE, it was found that irrational numbers lacked fraction expression, needing symbols such as the square root and π.
  • Rational numbers have terminating or repeating decimal patterns for representation as fractions.

Key Ideas - Rational Numbers

  • Infinite vs. Terminating vs. Recurring Decimals:
    • The first continues indefinitely with no pattern, the second comes to an end in a division, the third repeats a pattern.
  • Equivalent fractions: Have equal values
  • Simplifying: the numerator/denominator are divided by their highest common factor.
  • Proper vs. Improper vs. Mixed Fractions
    • Proper a<b,
    • Improper a≥b.
    • Mixed comprised of a whole number plus a proper fraction.
  • Comparing Fractions: Compare using common denominators.
  • Recurring Decimals: Are indicated with dot or bar usage.

1D: Computation with Fractions

  • To add or subtract fractions, establish equivalent fractions through like denominators
  • Multiplication of fractions involves improper conversions and canceling for calculation ease, as well as multiplying by a reciprocal

Key Ideas - Fractions

  • Equivalent Fractions: First convert each fraction to an equivalent fraction that has the same denominator.
  • Then choose the lowest common denominator (LCD) and add or subtract the numerators, and retain the denominator
  • Convert mixed numerals to improper fraction before multiplying and cancel the highest common factor between numerator and denominator before multiplying
  • Divide a number by a fraction by muliplting the number by reciprocals
  • To divide a number by a fraction, multiply by its reciprocal. For example: 3 ÷ 5/6 becomes 3 × 6/5.
  • Whole Numbers: Can be written by a denominator of 1 so whole numbers can be turned into fractions. For example: 3 = 3/1

1E: Ratios, Rates, and Best Buys

  • Fractions, ratios, and rates compare quantities.
  • Leaf blowers might require 1/27 litres of oil
  • Math is used to calculate ratios such a Fan speed in 1000 revolutions/min.
  • Fuel efficiency is a rate, usually given in liters per 100km

Key Ideas - Rates, Rations and Best Buys

  • Comparisons: Ratios with the same units.
  • Ratios in simplest form: Whole number without common factor
  • Unitary Method: Determines a part's value of a total
  • Rate: compares related units with different quantities
  • Rate: expressed with 1 quantity per different unit as 50 km/h
  • Ratios and Best Buy: Rates are used to determine the best buy when purchasing products.

1F: Percentages and Money

  • Percentages are a number against 100.
  • "Per cent" originates Latin "per centum", meaning "out of 100."

Key Ideas - Percentages

  • A number by a percentage by multiplicatio.
  • For percentages, divide by 100 by.
  • To express a number as a fraction, multiply by dividing by a decimal.
  • Use the unitary method for percentages for unit of division.

1G: Percentage Increase and Decrease

  • Percentages: Used for quantitative descriptions
  • Increase or decrease is calculated on the original amount.

Key Ideas - Percentages Pt2

  • Increasing by A Percentage : Amount × 100%
  • Decreasing by Given Percentage: Amount × 100% - Given Percentage

1H: Profits and Discounts

  • Profits and Losses: calculated using percentages

Key Ideas : Profit Discount and Losses

  • Profit: Total amount of money made on the sale
  • Mark-ip: Amount to the cost price selling by mark-up
  • Percentage Profit: By dividing profit and losses by the cost price from 100 or loss times
  • Discount: Divided by how much is market down amount times discount/ original price

1I: Tax and Salaries

  • Salaries is used depending on the rate of work and is payed using the number to which many are paid
  • Tax is payed to the government dependig on person taxable/ income

Key Ideas- Tax and Salaies

  • Workers earned a wage and a salarie
  • Wage Salary is dependengt on fix rated
  • Salaries are at a fixed yearly amount paid each month
  • Some are paid through a bonus like a leave loading
  • Income is people earnings and can have net amount and gross amount which can take out all tax

1K: Simple Interest

  • Banks offer investments at a rate per annum, as well as loans .
  • Loans all increase in price due to interest
  • In simple rates a percentage of borrowers are calculated

Key Ideas- Simple Interest

  • The principal account is constant even through interest
  • The formula to find the value as A= P plus 1, as p is the principal investment i is for an amount loaned per, as P initialy number one times period .

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