Back to National 4

Topic

Money

Money questions use decimal notation, totals, change, best value, wages, budgeting, and shared costs in everyday contexts.

Topic explanation

Money is usually written to two decimal places. £4.50 means four pounds and fifty pence.

When comparing value, make the quantities match. For example, compare the price per item, per kilogram, or per litre.

For budgets, list income and spending clearly, then subtract the spending from the income to find what is left.

Quick methods

Total cost
Multiply the price of one item by the number of items.
Change
Subtract the cost from the amount paid.
Best value
Compare the cost of one item or one unit.
Budget
Subtract each outgoing cost from the income.

Worked examples

Example 1

Three notebooks cost £1.20 each. What is the total cost?

  1. Each notebook costs £1.20.
  2. There are 3 notebooks, so multiply by 3.
  3. £1.20 × 3 = £3.60

So: The total cost is £3.60.

Example 2

A pack of 6 bottles costs £4.20. What is the cost per bottle?

  1. Divide the total price by the number of bottles.
  2. £4.20 divided by 6 = £0.70
  3. £0.70 is 70 pence.

So: Each bottle costs 70 pence.

Example 3

A pupil earns £48.00 and spends £12.75 on travel and £18.40 on food. How much is left?

  1. Add the spending: £12.75 + £18.40 = £31.15
  2. Subtract the spending from the money earned.
  3. £48.00 − £31.15 = £16.85

So: £16.85 is left.

Practise this topicTake quiz