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Grade 7 Maths: Financial maths: profit, loss, discount and simple interest poster

A one-page CAPS Grade 7 Maths poster on financial maths: profit, loss, discount and simple interest (Calculations), with the key ideas, key words and a tip to remember.

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Maths · Grade 7 · Calculations
Financial maths: profit, loss, discount and simple interest

1Profit and loss

The cost price (CP) is what the shop pays. The selling price (SP) is what the customer pays.

  • Profit = SP − CP, when SP is more than CP
  • Loss = CP − SP, when SP is less than CP
Example

CP R240 and SP R200
Loss = R240 − R200 = R40

2Discount

A discount is an amount taken off the marked price. Find the discount first, then subtract it.

Example

A R300 jacket, 15% off:
10% of R300 = R30 and 5% of R300 = R15
Discount = R45
New price = R300 − R45 = R255

3Simple interest

Interest is the extra money paid on a loan or earned on savings. Simple interest is worked out on the original amount only.

Example

R1 000 at 8% a year for 3 years
8% of R1 000 = R80 a year
Interest = 3 × R80 = R240
Total = R1 000 + R240 = R1 240

4Budgets

A budget plans income and expenses for a month. Total the expenses, then subtract them from the income.

Example

Income R5 000,00
Rent, food and other: R1 800,00 + R1 500,00 + R900,00 = R4 200,00
Left over: R5 000,00 − R4 200,00 = R800,00

5Writing money

  • Use a decimal comma between rand and cents: R45,50.
  • Use a space for thousands: R12 500,00.
  • Line up the commas when you add and subtract.
Example

R12,50 + R8,95 = R21,45

Key words

cost price
what the shop pays
selling price
what the customer pays
discount
an amount taken off a price
interest
extra money for borrowing or saving
budget
a plan for income and expenses
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