Financial mathematics 

This is the teacher notes page identifying the outcomes addressed in these lessons. Copy each lesson link and send it to your students. For printable versions of these materials log into the teacher information section of the Department of Education.

Introduction

During these lessons students will explore and make calculations with activities involving GST, best buys and profit and loss. 

Students will:   

• calculate GST, GST-inclusive prices and pre-GST prices for goods purchased 

• investigate and calculate best buys by comparing price per unit 

• solve problems involving profit and loss.

Outcomes:

• MA4-1WM communicates and connects mathematical ideas using appropriate terminology, diagrams and symbols

• MA4-2WM applies appropriate mathematical techniques to solve problems

• MA4-3WM recognises and explains mathematical relationships using reasoning

• MA4-6NA solves financial problems involving purchasing goods

1. Introducing the Goods and Services Tax (GST) (60 mins)

Students will:   

• be introduced to what GST is and which food products are not taxable

• perform calculations involving GST

• investigate the effect on families if the GST was increased.

Outcomes:

• MA4-1WM communicates and connects mathematical ideas using appropriate terminology, diagrams and symbols

• MA4-2WM applies appropriate mathematical techniques to solve problems

• MA4-3WM recognises and explains mathematical relationships using reasoning

• MA4-6NA solves financial problems involving purchasing goods