MONEY

In mathematics, money is defined as a medium of exchange, such as bills, coins, and demand deposits. These mediums are used to pay for goods and services. Money is used to pay for the value or price of an item or service.

Recognition of money

shs. 1000	shs. 20,000
shs.500	shs.1,000
shs.200	shs. 2,000
shs. 100	shs. 5,000
shs. 50	shs.10,000

Finding the value of small denominations

Example:

1. Peter was given 3 five hundred shilling coins. How much money was he given?

1 coin         –        shs.500

3 coins       –        shs.500 х 3

=   shs.1500

2. How much money is in a bundle of 6 two thousand shilling notes?

1 note  –  shs.2000

6notes –  shs.2000 х 6

= shs.12000

3.   Judith has 7 two hundred shilling coins in her bag. How much money does she have?

1 coin  –  shs.200

7coins –  shs.200 × 7

= shs.1400

LESSON 2

OPERATION ON MONEY

Addition of money

Examples

A man had 4800/= and he was given sh. 1200 by his friend.  How much money did he have altogether?

Sh. 4800

+ Sh. 1200

   Sh. 6000

A man had sh. 6000 altogether.

2. Add: shs.1260 + shs.480

shs.1260

+ shs.  480

shs.1740

3.  Add:              2760

+ shs.3850

  shs.661 0

LESSON 3

MONEY (Measurements)

Subtraction of money

Examples

How much change will you get from a one thousand shilling note if you spend sh. 350?

You had    sh.  1000

You spent sh.   350

                    Sh.  650

. Subtract: shs.1000 – shs. 300.

shs.1000

–shs.   300

                                  shs.   700

How much change do I get if I spend shs.6500 from shs.20000?

shs.20000

– shs.  6500

shs.13500

Faith had shs.2000. She bought a pen at shs.400. How much money did she remain with?

shs.2000

–   shs.  400

  shs.1600

LESSON 4

MONEY (Measurements)

Multiplication of money

Examples

1. The cost of 1 loaf of bread is sh. 1800.  Find the cost of 3 loaves.

                             Shs 1800

                                 x         3

                              Sh.  5400

2. Multiply:   shs.794

×      5

shs.3970

3. One plate costs shs.400. Find the cost of 8 similar plates.

1plate costs        shs.400

8plates cost      shs. 400

×       8

shs.3200                                                                                                       LESSON 5 

Division of money

Examples

1. A shopkeeper sold 4 bars of soap and got shs.7200. What was the cost of each bar of soap?

4 bars of soap cost shs.7200

1 bar of soap  costs  shs.7200

4

shs. 1800

2. Shamim bought 4litres of milk at shs.5600. How much is each litre?

4litres buy shs.5600

1litre  buys  shs.5600

4

shs.1400

9 mangoes cost shs.4500

3. Robert paid shs.4000 for 9 mangoes. What is the cost of each mango?

1 mango  costs   shs. 4500

9

shs. 500

LESSON 6

Buying and selling (Shopping Bills) (Price list)

Examples

Bosco went to the shop and bought the following items;2 bars of soap at shs.2000 each, 2kg of     sugar at shs.2500 per kilogram and 1kg of rice at shs.2800.

How much money did he spend altogether?

Soap =  shs.2000 х 2     sugar =   shs.2500 × 2           Total cost =   shs.4000

=  shs.4000                       =  shs.5000                                                shs.2800

                                                                                                                                + shs.5000

                                                                                                                                   shs.11800

2. Moses went to the market with shs. 10,000 and bought 1 kg of maize flour at shs. 1,700, 1 kg of            beans at shs. 2,800 and a litre of cooking oil at shs. 4,800. What was his change ?

                     Total cost                                 Change

shs. 1,700                                    shs. 10,000

shs. 2,800                                  – shs.    9,300

+  shs.4,800                                    shs.        700

shs. 9,300

study the table bellow and use it to answer questions that follow.

Questions

(a)     Find the cost of 3 kg of sugar.

(b)     If Allen bought 4kg of maize flour and 1 bar of soap.  How much money did she

pay?

• calculate the cost of buying 1 bar of soap, 1kg of sugar, 1kg of flour, 1 packet

of salt.

• Find the total expenditure if one buys all the items above.

LESSON 6

Shopping Bills

Examples

Mariam went to the school canteen and bought the following items

3 chaps at 500/= each.

4 chapats at 800/=

• bottles of soda at 1000/= each.

(a)     Find her total expenditure.

(b)     Find her balance if she went with 8000/=

Working

Chaps                              Chapatis                         Soda

500=                              800=                             1000=

x3                                   x  4                                  x   2

1500                               3200=                       2000=

Total expenditure

Sh.   3200

1500

   +   2000

Sh.    6700

LESSON 8

Finding profit

Profit = selling price – buying price/ cost price

Examples

1. Sarah bought a blouse at shs.800 and sold it at shs.1,200.What was her profit?

Profit = Selling price – Buying price

= shs.1,200 –shs.800

= shs.400

2.  Abdul bought a shirt at sh. 800. He sold it at 1000/=.  What was his profit?

Buying price          Sh. 800

Selling price           Sh. 1000

Profit           =       S.P – B.P

=       Sh. 1000 – 800

=       Sh.  200

LESSON 9

Finding Loss

Loss = Buying price – selling price. or cost price – selling price

Examples

John bought a shirt at 7200/= and sold it at 6000/=.Calculate his loss.

Loss   =       B.P – S.P      or CP – SP

Loss   =   shs 7200    –      shs 6000

=     shs   1200

Loss  =     shs   1200

Anna bought a dress at shs.12,000. She later sold it at shs.9,000. What was her loss?

Loss = B.P – S.P

= shs.12,000 – shs.9,000

= shs.3,000

LESSON 10

Postage rates

Study this table.

Example:

Joseph sends 2 letters to Kenya and 3 letters to Tanzania. How much will he pay?

2 letters to Kenya  will pay shs.    400 x 2     =    sh.  800

3 letters to Tanzania will pay shs. 400 x 3     =     sh. 1200

Total Cost                                                              =     Sh. 2000

Therefore, Joseph will pay 2000/=