Podcast
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?
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?
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?
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?
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?
An item's price increases from $25 to $28. What is the percentage increase in the item's price?
An item's price increases from $25 to $28. What is the percentage increase in the item's price?
After a discount of 15%, the sale price of an item is $68. What was the original price of the item?
After a discount of 15%, the sale price of an item is $68. What was the original price of the item?
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?
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?
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?
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?
What is the reciprocal of $2\frac{3}{5}$?
What is the reciprocal of $2\frac{3}{5}$?
Identify which of the following is NOT a rational number.
Identify which of the following is NOT a rational number.
Which expression best describes the equivalent of $\frac{5}{8} + \frac{2}{3}$?
Which expression best describes the equivalent of $\frac{5}{8} + \frac{2}{3}$?
Simplify the ratio 36:48 into its simplest form.
Simplify the ratio 36:48 into its simplest form.
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:
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:
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?
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?
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?
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?
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?
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?
What number should replace the question mark? 3 : 5 = ? : 25
What number should replace the question mark? 3 : 5 = ? : 25
If the exchange rate is 1 AUD = 0.65 USD, how many Australian Dollars would you need to get 130 US Dollars?
If the exchange rate is 1 AUD = 0.65 USD, how many Australian Dollars would you need to get 130 US Dollars?
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?
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?
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?
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?
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?
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?
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?
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?
Which of the following is NOT a step in making tea for profit?
Which of the following is NOT a step in making tea for profit?
What number comes next in the following series? 1/2, 3/4, 5/6, ?
What number comes next in the following series? 1/2, 3/4, 5/6, ?
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?
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?
What is the formula for calculating simple interest?
What is the formula for calculating simple interest?
Flashcards
What is computation?
What is computation?
Using mathematical operations (addition, subtraction, multiplication, division)
What is a ratio?
What is a ratio?
A comparison of two quantities showing their relative sizes
What is a rate?
What is a rate?
A ratio that compares two quantities with different units.
What is factor?
What is factor?
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What is the highest common factor (HCF)?
What is the highest common factor (HCF)?
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What is the lowest common multiple (LCM)?
What is the lowest common multiple (LCM)?
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What is a prime number?
What is a prime number?
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What is a composite number?
What is a composite number?
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What is 'Order of operations'?
What is 'Order of operations'?
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What are integers?
What are integers?
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What are significant figures?
What are significant figures?
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What are rational numbers?
What are rational numbers?
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What are irrational numbers?
What are irrational numbers?
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What is a fraction?
What is a fraction?
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What is a mixed numeral?
What is a mixed numeral?
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What are equivalent fractions?
What are equivalent fractions?
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What are proper fractions?
What are proper fractions?
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What are improper fractions?
What are improper fractions?
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What is a common denominator?
What is a common denominator?
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What is a recurring decimal?
What is a recurring decimal?
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How can you simplify fractions?
How can you simplify fractions?
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How to cancel or simplify a fraction?
How to cancel or simplify a fraction?
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What is a ratio in simplest form?
What is a ratio in simplest form?
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What is the unitary method?
What is the unitary method?
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What is rate?
What is rate?
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What is 'best buys'?
What is 'best buys'?
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What does 'per cent' mean?
What does 'per cent' mean?
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How to express a number as a percentage?
How to express a number as a percentage?
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What does 'percentage of a number' mean?
What does 'percentage of a number' mean?
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What is percentage change?
What is percentage change?
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What is profit in math?
What is profit in math?
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What is mark-up?
What is mark-up?
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What is discount in math?
What is discount in math?
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What is a wage?
What is a wage?
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What is a salary?
What is a salary?
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What is 'time and a half'?
What is 'time and a half'?
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What is double time?
What is double time?
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What is a commission?
What is a commission?
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What is taxable income?
What is taxable income?
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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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