Money and real-life problemsNumeracy skills are more widely used with money than with any other real-life problems.

Here we are going to look at how to approach these problems.

Money and real-life problemsWhen faced with a real-life problem there are

several simple steps to follow in order to solve them.

1) Read the problem

2) Extract the data

3) Decide what type of calculation is needed

4) Show your working out

5) State clearly your solution

Money and real-life problems

1) Read the problem

Sample question:

A man pays a garage for work on his car. The mechanic charges £30 per hour plus the cost of parts.

If the car owner needs 4 hours work and £65 of parts, how much does it cost the car owner?

Money and real-life problems

2) Extract the data

Sample question:

A man pays a garage for work on his car. The mechanic charges £30 per hour plus the cost of parts.

If the car owner needs 4 hours work and £65 of parts, how much does it cost the car owner?

Money and real-life problems3) Decide what type of calculation is needed

4 hours work at £30 per hour plus £65 of parts

Money and real-life problems3) Decide what type of calculation is needed

4 x £30 + £65

Money and real-life problems4) Show your working out

4 x £30 + £65 we always do x or ÷ first if there are no brackets.

Money and real-life problems4) Show your working out

£120 + £65 we always do x or ÷ first if there are no brackets.

Money and real-life problems4) Show your working out

£120 + £65 = £185

Money and real-life problems5) State clearly your solution

It costs the car owner £185

Money and real-life problems

Remember:

1) Read the problem2) Extract the data3) Decide what type of calculation is needed4) Show your working out5) State clearly your solution