Mathematics·Numbers and operations · NSSCO 1.6
Everyday money maths
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The money maths you'll use for the rest of your life, all in Namibian dollars. Work out profit and loss and percentage profit or loss, take a discount off a marked price, grow savings with simple and compound interest, change money between currencies, calculate wages and salaries with overtime and commission, and read everyday bills and account statements with confidence.
What you'll learn in this lesson
By the end you should be able to (NSSCO Mathematics 1.6):
- Calculate profit and loss, and percentage profit or loss, on the cost price
- Work out a discount and the sale price of a marked item
- Calculate simple interest and the total amount using I = PRT ÷ 100
- Calculate compound interest year-by-year and with A = P(1 + R/100)ⁿ
- Convert an amount from one currency to another using an exchange rate
- Calculate personal income from wages, salaries, overtime and commission
- Read and perform calculations on simple bills and account statements
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