Many parts of the course can use questions involving money.

Fractions, percentages, simple and compound interest, depreciation are just a few.

The currency and size of the numbers involved in money calculations will dictate how you should round your final answers

- The most commonly used currencies are
- US Dollars ($ or USD)
- Great British Pounds (£ or GBP)
- Euros (€ or Euros)
- It is possible to see other currencies used, with or without their symbols

- Many currencies will be rounded to two decimal places
- Dollars, pounds and euros should all be used to two decimal places

- When rounding, always write down both decimal places, even if the second is zero
- $1.40 will be displayed as 1.4 on screen but would be pronounced ‘1 dollar, 40 cents’

- This is particularly important when using a calculator

- It is not always necessary to round to two decimal places
- then rounding to the nearest dollar, 10 dollars or 100 dollars may be appropriate

- If large numbers are involved – e.g. for the cost of a car
- Use the information in the question to make a judgement

- Some currencies have large numbers (due to exchange rates)
- Due to the high numbers involved and the changing nature of exchange rates it would be accurate enough to say $100 is 8160 rupees

- These are usually rounded to the nearest whole number
- E.g. $10 is 816.38 Indian Rupees making $100 the same as 8163.80 rupees

- In some contexts money facts may be given to more than two decimal places
- Common examples of this include exchange rates and the cost of gas or electricity
- E.g. One litre of petrol in the UK costs an average price of £1.579

- In such cases you should use all of the decimal places given in your working and only round (to two decimal places or whatever is appropriate) for your final answer

- Questions will not use words like add, subtract, multiply so think carefully about what you need to do
- Words like total or sum will mean to add up
- Difference – or increase/decrease in costs – will involve subtracting
- Changing from one currency to another (exchange rates) will involve multiplying or dividing

- Working out the total cost of an energy bill may involve a combination of these

- Use the information given in the question to decide how to round your final answer
- Check that your answer matches the currency in the question

In his favourite UK fashion store, Thomas buys 4 t-shirts costing £8.50 each and 2 pairs of shorts costing £7.20 each. On his way home Thomas fills his car up with 45 litres of petrol at a price of £1.579 per litre.

Find out how much Thomas spent in total on clothes and petrol.

Find the total cost of the t-shirts, shorts and petrol separately.

Use the figures as they are given, do not round any at this stage.

Total (add) these amounts.

The currency is Great British Pounds (£) and values are relatively small so it makes sense to round the final answer to two decimal places.

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Thomas spends a total of £119.46 on clothes and petrol.
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