Lesson Notes By Weeks and Term v3 - Primary 4
Money
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Money
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Subject: General Mathematics
Class: Primary 4
Term: 2nd Term
Week: 4
Theme: Mensuration And Geometry
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Watch on YouTubeSee Facebook postSolve problems on addition of money; Solve quantitative aptitude problems on additions of money Solve problem on subtraction of money Solve quantitative aptitude problems in volving subtraction of money. Multiply money by a whole number; Solve some quantitative reasoning problems on multiplications of money Divide money by a whole number; Solve quantitative reasoning problems in real life situations calculate profit and loss solve quantitative aptitude problems on profit and loss
from the right.
Total: ₦300.00 Quantitative Aptitude for Multiplication: Keywords: "total cost of n items," "how much for x times."
E. Division of Money by a Whole Number (Performance Objective 7 & 8)
Concept: Sharing an amount of money equally among a number of people or finding the cost of one item when the total cost of multiple items is known.
Procedure:
1. Divide the Naira amount first by the whole number.
2. Any remainder from the Naira division is converted to kobo (by multiplying by 100) and added to the existing kobo amount.
3. Then, divide the total kobo amount by the whole number.
4. Place the decimal point between the Naira and kobo parts of the quotient.
5. Place the Naira symbol (₦) before the final quotient.
Worked Example 4: Three friends shared ₦750.60 equally. How much did each person get? ``` ₦ 250.20 _______ 3 | ₦ 750.60 - 6 --- 1 5 - 1 5 ----- 0 0 - 0 0 ----- 0 6 - 6 ----- 0 ``` Explanation: Divide ₦750 by 3: 7 ÷ 3 = 2 remainder 1. (Write 2 in quotient). Bring down 5, make 15. 15 ÷ 3 = 5 remainder 0. (Write 5). Bring down 0, make 0. 0 ÷ 3 = 0. (Write 0). So Naira is ₦
2
5
0. Bring down decimal point, then bring down 6. 6 ÷ 3 = 2. (Write 2). Bring down 0. 0 ÷ 3 = 0. (Write 0). So kobo is 20 k.
Total: ₦250.20 Quantitative Aptitude for Division: Keywords: "share equally," "cost per item," "split among."
F. Calculation of Profit and Loss (Performance Objective 9 & 10)
Concept: Basic business calculations to determine if a transaction resulted in gain (profit) or deficit (loss).
Key Terms: Cost Price (CP): The price at which an item is bought by a seller.
Selling Price (SP): The price at which an item is sold by a seller.
Profit: Occurs when the Selling Price (SP) is greater than the Cost Price (CP).
Formula: Profit = Selling Price (SP) - Cost Price (CP)
Loss: Occurs when the Cost Price (CP) is greater than the Selling Price (SP).
Formula: Loss = Cost Price (CP) - Selling Price (SP)
Worked Example 5 (Profit): A trader bought a bag of oranges for ₦1,500.00 and sold it for ₦2,000.
0
0. Did the trader make a profit or a loss, and by how much? CP = ₦1,500.00 SP = ₦2,000.00 Since SP (₦2,000.00) > CP (₦1,500.00), there is a profit. Profit = ₦2,000.00 - ₦1,500.00 = ₦500.00 Conclusion: The trader made a profit of ₦500.
0
0. Worked Example 6 (Loss): A farmer bought fertilizer for ₦8,000.00 but due to market conditions, had to sell it for ₦7,500.
0
0. Did the farmer make a profit or a loss, and by how much? CP = ₦8,000.00 SP = ₦7,500.00 Since CP (₦8,000.00) > SP (₦7,500.00), there is a loss. Loss = ₦8,000.00 - ₦7,500.00 = ₦500.00 Conclusion: The farmer incurred a loss of ₦500.
0
0. Quantitative Aptitude for Profit and Loss: Identifying CP and SP from word problems, then applying the correct formula.
A. Nigerian Currency: Naira (₦) and Kobo (k): The official currency of Nigeria.
Relationship: 100 kobo (k) = 1 Naira (₦).
Notation: Amounts are typically written with the Naira symbol (₦) and a decimal point separating Naira from kobo. For example, ₦150.50 means 150 Naira and 50 kobo.
Place Value: The digits to the left of the decimal point represent Naira, while the first two digits to the right represent kobo.
B. Addition of Money (Performance Objective 1 & 2)
Concept: Combining two or more amounts of money to find a total sum.
Procedure:
1. Align the decimal points vertically.
2. Align Naira amounts under Naira amounts, and kobo amounts under kobo amounts.
3. Add the kobo column first, from right to left, carrying over to the Naira column if the sum is 100 kobo or more (e.g., 120 kobo = ₦1 and 20 kobo).
4. Add the Naira column, including any carried-over amounts.
5. Place the Naira symbol (₦) before the final sum.
Worked Example 1: Amina bought rice for ₦350.75 and beans for ₦280.
2
5. How much did she spend in total? ``` ₦ 350.75 + ₦ 280.25 ------------ ₦ 631.00 ``` Explanation: Add kobo: 75 k + 25 k = 100 k. Convert 100 k to ₦
1. Write down 00 kobo and carry over ₦1 to the Naira column.
Add Naira: 350 + 280 + 1 (carried over) =
6
3
1. Total: ₦631.00 Quantitative Aptitude for Addition: Involves interpreting word problems to identify the need for addition. Keywords include "total," "sum," "altogether," "in all."
C. Subtraction of Money (Performance Objective 3 & 4)
Concept: Finding the difference between two amounts of money, often used to calculate change or remaining balance.
Procedure:
1. Align the decimal points vertically.
2. Align Naira amounts under Naira amounts, and kobo amounts under kobo amounts.
3. Subtract the kobo column first, from right to left. If borrowing is needed from the Naira column, remember that ₦1 = 100 kobo.
4. Subtract the Naira column, adjusting for any borrowing.
5. Place the Naira symbol (₦) before the final difference.
Worked Example 2: Musa had ₦800.00 and spent ₦475.50 on a book. How much money does he have left? ``` ₦ 800.00 - ₦ 475.50 ------------ ₦ 324.50 ``` Explanation: Kobo: We cannot subtract 50 k from 00 k. Borrow ₦1 (100 k) from ₦800.00, making it ₦799.00 and 100 kobo. Now, 100 k - 50 k = 50 k.
Naira: 799 - 475 =
3
2
4. Total: ₦324.50 Quantitative Aptitude for Subtraction: Involves interpreting word problems. Keywords include "how much left," "difference," "change," "how much more/less."
D. Multiplication of Money by a Whole Number (Performance Objective 5 & 6)
Concept: Finding the total cost of multiple identical items or scaling up an amount.
Procedure:
1. Multiply the money amount (including kobo) by the whole number as if they were regular numbers.
2. Count two decimal places from the right in the product to separate Naira and kobo.
3. Place the Naira symbol (₦) before the final product.
4. Carry-overs are treated normally in multiplication.
Worked Example 3: A sachet of water costs ₦20.
0
0. How much would 15 sachets cost? ``` ₦ 20.00 x 15 ---------- 100 00 (₦20.00 x 5) 200 00 (₦20.00 x 10, shifted) ---------- ₦ 300.00 ``` Explanation: Multiply 20.00 by 15. 0 x 15 = 0 0 x 15 = 0 20 x 15 = 300 Place the decimal point two places from the right.
Total: ₦300.00 Quantitative Aptitude for Multiplication: Keywords: "total cost of n items," "how much for x times."
E. Division of Money by a Whole Number (Performance Objective 7 & 8)
Concept: Sharing an amount of money equally among a number of people or finding the cost of one item when the total cost of multiple items is known.
Procedure:
1. Divide the Naira amount first by the whole number.
2. Any remainder from the Naira division is converted to kobo (by multiplying by 100) and Phase 1: Introduction and Review (10 minutes)
Teacher Activity: Begin by displaying Nigerian currency notes and coins. Ask students to identify them and state their values. Quickly review the concept of Naira and Kobo and their relationship (₦1 = 100k). Introduce the topic "Money Operations" and explain its relevance in daily life (e.g., buying items, paying for transport).
Student Activity: Students identify currency notes and coins. Students recall the conversion of kobo to Naira. Students actively listen and respond to questions about daily money use.
Phase 2: Addition of Money (15 minutes)
Teacher Activity: Explain the procedure for adding money, emphasizing decimal alignment and carrying over from kobo to Naira. Work through Worked Example 1 on the board, demonstrating step-by-step. Provide a simple quantitative aptitude problem for students to solve.
Student Activity: Students observe and participate in solving the example. Students practice addition problems in their exercise books, focusing on correct alignment. Students discuss the importance of addition of money in business (e.g., calculating total sales, total expenses).
Phase 3: Subtraction of Money (15 minutes)
Teacher Activity: Explain the procedure for subtracting money, highlighting borrowing from Naira to kobo (₦1 = 100k). Work through Worked Example 2 on the board. Provide a quantitative aptitude problem (e.g., calculating change) for students to solve.
Student Activity: Students follow the demonstration and ask questions. Students solve subtraction problems, paying attention to borrowing. Students demonstrate understanding of quantitative aptitude by solving word problems.
Phase 4: Multiplication and Division of Money (20 minutes)
Teacher Activity: Explain multiplication of money by a whole number, showing how to place the decimal point. Use Worked Example
3. Explain division of money by a whole number, focusing on converting remainder Naira to kobo before dividing kobo. Use Worked Example
4. Provide quantitative reasoning problems for both operations.
Student Activity: Students practice multiplication and division of money problems. Students identify the correct operation from word problems. Students apply division to real-life situations, such as sharing money equally among friends.
Phase 5: Profit and Loss (20 minutes)
Teacher Activity: Introduce the terms "Cost Price (CP)" and "Selling Price (SP)" using relatable Nigerian market examples (e.g., buying tomatoes wholesale and selling retail). Define Profit (SP > CP) and Loss (CP > SP) and state their respective formulas. Work through Worked Examples 5 and 6 on the board, clearly showing how to determine profit or loss. Discuss real-life ways to make profit (e.g., buying low, selling high, reducing costs).
Student Activity: Students define CP, SP, Profit, and Loss. Students calculate profit or loss for given scenarios. Students engage in a brief discussion on how to make profit in simple terms.
Phase 6: Conclusion and Summary (5 minutes)
Teacher Activity: Recap all operations covered: addition, subtraction, multiplication, division of money, and profit/loss. Emphasize the importance of these skills in everyday life and future business endeavors.
Student Activity: Students ask any remaining questions. Students summarize key takeaways from the lesson.
Materials: Nigerian currency (real or play money) Whiteboard/chalkboard and markers/chalk Exercise books and pencils Flashcards with money amounts or word problems Instruction: Solve the following problems.
Problem: Mrs. Okafor bought a loaf of bread for ₦550.00 and groundnut paste for ₦285.
5
0. How much did she spend in total?
Solution: ``` ₦ 550.00 + ₦ 285.50 ₦ 835.50 ```
Commentary: This problem directly assesses the ability to add money, including kobo amounts. Students must correctly align the decimal points and add each column, carrying over when necessary. The phrase "in total" indicates addition.
Problem: A tailor had ₦1,500.00 and used ₦720.75 to buy thread and needles. How much money is left with the tailor?
Solution: ``` ₦ 1500.00 ₦ 720.75 ₦ 779.25 ```
Commentary: This problem assesses subtraction with borrowing across the decimal point. Students must understand that ₦1 can be converted to 100 kobo when borrowing is required from the Naira column. The phrase "how much is left" indicates subtraction.
Problem: If one tuber of yam costs ₦850.50, how much will 6 tubers of yam cost?
Solution: ``` ₦ 850.50 x 6 ₦ 5103.00 ```
Commentary: This problem assesses multiplication of money by a whole number. Students need to multiply the Naira and kobo parts and correctly place the decimal point two places from the right in the product.
Problem: A group of 4 children decided to share ₦1,280.40 equally among themselves. How much did each child receive?
Solution: ``` ₦ 320.10 _______ 4 | ₦ 1280.40 12 08 08 00 00 04 04 00 00 0 ```
Commentary: This problem assesses division of money. Students must divide both the Naira and kobo parts, understanding how to carry over a remainder from Naira to kobo for further division. The phrase "share equally" indicates division.
Problem: Emeka bought a bicycle for ₦12,500.00 and later sold it for ₦14,000.
0
0. Calculate his profit or loss.
Solution: Cost Price (CP) = ₦12,500.00 Selling Price (SP) = ₦14,000.00 Since SP > CP, there is a Profit. Profit = SP - CP Profit = ₦14,000.00 - ₦12,500.00 Profit = ₦1,500.00
Commentary: This problem assesses the ability to identify and calculate profit. Students need to compare the CP and SP to determine if it's a profit or loss, then apply the correct formula.
Market Transactions and Budgeting (Community/Economy): Students can apply addition and subtraction of money when helping parents at the local market (e.g., calculating the total cost of items bought, counting change received). They can also use these skills to manage their pocket money, budgeting for snacks and school supplies throughout the week. This fosters financial responsibility relevant to the Nigerian context where many children engage in petty trading or errands. Petty Trading and Entrepreneurship (Economy/Culture): The concepts of profit and loss are directly applicable to understanding the simple businesses that thrive in Nigerian communities, such as hawking sachet water, selling groundnuts, or running a small roadside shop. Students can analyze scenarios where a neighbour sells goods, helping them grasp the fundamentals of buying low and selling high to make a gain, or why a business might incur a loss. Community Projects and Contributions (Community): When organizing small community projects, such as raising funds for school repairs or collecting money for a class party, students can use multiplication and division of money to calculate total contributions if everyone gives an equal amount, or to divide project costs among participants. This teaches collective financial management in a local context.