# TRANSACTIONS IN THE HOMES AND OFFICES

**FIRST TERMÂ **

**LEARNING NOTES**

**CLASS: JSS 2 (BASIC 8)**

**SCHEME OF WORK WITH LESSON NOTESÂ **

**Subject:Â **

### MATHEMATICS

**Term:**

**FIRST TERMÂ **

**Week:**

**WEEK 6**

**Class:**

**JSS 2 (BASIC 8)**

**Previous lesson:Â **

The pupils have previous knowledge of

**Â FRACTIONS, PERCENTAGES, RATIO AND PROPORTION**

that was taught as a topic during the last lesson.

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**Topic :**

**TRANSACTIONS IN THE HOMES AND OFFICES **

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**Behavioural objectives:**

At the end of the lesson, the pupils should be able to

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**Instructional Materials:**

- Wall charts
- Pictures
- Related Online Video
- Flash Cards

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**Methods of Teaching:**

- ClassÂ Discussion
- Group Discussion
- Asking Questions
- Explanation
- Role Modelling
- Role Delegation

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**Reference Materials:**

- Scheme of Work
- Online Information
- Textbooks
- Workbooks
- 9 Year Basic Education Curriculum
- Workbooks

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**Content**

**Household Budgeting**

This is the process of planning how to spend an amount of money or family income that is available to avoid wastage. It guides in aligning expenditure with income.

**Example:**

The monthly income of a family is #140 000. They plan to spend the income as follows:

#6 000 for house rent, #44 000 for food, #15 000 for transport, #3 000 for electricity bill, #2 500 for water bill, #10 000 for dependent relatives and #8 000 for the house keeper. Find the total expenditure of the family and determine whether they will have some money for other emergencies or expenses.

**Solution**

**Total monthly income = #140 000**

Expenditure:

House rent | Â = | #6 000 | |

Food | Â = | #44 000 | |

Transport | Â = | #15 000 | |

Electricity bill | Â = | #3 000 | |

Water bill | Â = | #2 500 | |

Dependent relatives | Â = | #10 000 | |

House keeper | Â = | #8 000 |

Total expenses = sum of all the expenditure =Â **#88 000**

Excess amount

= monthly income â€“ total expenditure

= #140 000 â€“ #88 000

= #52 000

Hence, the amount of money left for other expenses is #52 000

**Class Activity**

A corps member plans to spend his monthly allowance as follows: 30% on food, 5% on clothing, 2% on entertainment, 3% on transport, 212% on electricity and 20% on savings. If the income per month is ÂŁ19 800.

- Find his total expenses for the month.
- Calculate the amount of money left for emergencies.

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**Savings**

This refers to a part of an income that is kept aside for future use, such as during retirement or when money may not be readily available. It can be fixed or a percentage of the family income or earnings in a month or a given period of time.

**Example**

A trader saves 5% of her weekly income of #15 000

(a) How much will she be able to save in 12 weeks?

(b) What will her savings be in one year?

(c) What fraction of the income per week saved?

**Solution**

(a) Percentage of savings = 5%

Income per week #15 000

Total savings in a week = 5% of #15 000

5100Ă—150001

= # 750

Savings for 12 weeks = #750 Ă— 12

= #9 000

(b) Savings for one year (a year has 52 weeks)

= #750 Ă— 52

= #39 000

(c) Fraction of savings to income per week

= 750 Ă· 15 000

= 120

**Class Activity**

The wedding expenses of a man is estimated at #85 986. If the man saves 12% of his monthly income of #42 150, in how many months will he have saved enough for his wedding?

**Rents**

Rent refers to the amount of money paid for occupying a place like a house, a shop or a park that does not belong to a person for a period of time.

**Example:**

The monthly rent for a shop in a village is #2 000. If this amount is increased by 20%, calculate the new rent for the room.

**Solution**

Monthly rent = #2 000

Percentage increase = 20%

Total percentage = 100 + 20 = 120%

New rent =Â 120100Ă—15001

12 Ă— 15

= #1800

Therefore, the new rent that will be paid is #1 800

**Class activity**

- The cost of renting a two-bedroom flat in a town for a year is #160 000. If this amount is increased by 20%, what will be the rent?
- Find the rent as a percentage of the total income if a man pays #1 500 per week for a shop that generates a weekly income of #20 000.

**Taxes**

These are charges against a citizen, a person, property or activities to support the government. It is a means of generating revenue by the government for the purpose of providing services such as education, road construction, water supply and security for the public.

**Example**

- A shop owner pays #5 400 in taxes, which is 15% of his gross earnings in a year. What is his annual income?

**Solution**

Let the annual income be Y

15% of Y = #5 400

15100Â Ă— Y = #5 400

15 Ă— Y = #5 400 x 100

15Y = #540 000

Y = 540 000 15

Y = #36 000

- A rented piece of land has a rateable value of #871. If the land is assessed and the rate at 54k in the naira is satisfied, find the rate to the nearest naira.

**Solution **

Rate able value of the land = #871

Annual rate is 54k per naira = 54 Ă— #871

= 47 034k

= #470.34

Therefore, the rate = #470 to the nearest naira.

**Class Activity**

- The rateable value of a company is #25 660. How much will the owner pay when the rate in the naira is reduced by 10% from 70k in the naira and the rateable value is increased by 5%?
- The rate at 5512k in naira of a shop is 134 643k. Find the rateable value of the shop.

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**BILLS**

This is the amount that is paid when a service is rendered. There are many types of bills but we shall consider just two, namely; Electricity bills and Telephone bills.

**Example**

- An electricity bill contains 15 000 units for previous reading and 16 000 units as the present reading. Calculate the amount of energy consumed. If the charging rate is #1.00 per unit, the demand charge is #50 per month and VAT is 5% charge per month, calculate the electricity bill for the month.
- A teacher made 50 minutes of local calls at the rate of #15 per minute and 15 minutes of international calls at the rate of #20 per minute. If the rental charge is #50 in a month plus 5% VAT, calculate the telephone bill of the student in a month.

**Solution**

- Previous reading = 15 000

Present reading = 16 000

Amount of energy consumed

= present reading â€“ previous reading

= 16 000 â€“ 15 000

= 1000 units

Cost of 1000 units at #1.00 per unit

= 1000 Ă— 1.00

= #1000.00

Demand charge = #50

Total charge = #1000.00 + #50.00

= #1050.00

VAT is 5% of #1050.00

= 5100 Ă— #1050

= 12 Ă— 105

= #52.5

Electricity bill for the month = Total charges + VAT

= #1050 + #52.5

= #157.5

- Time spent on local calls = 50 minutes

Cost at #15 per minute = 50 Ă— 15

= #750

Time spent on international calls = 15 minutes

Cost at #20 per minute = 15 Ă— 20 = #300

Rental charge = #50

Total telephone charges

= #750 + # 300 + #50

= #1 100

VAT at 5% of total telephone charges,

i.e 5% of #1 100 = 5100 Ă— 1 100

= #5.00

Telephone bill for the month

= #1 100 + #5.00

= #1 105

**Class Activity**

- A familyâ€™s income is #84 600. If 5% of the income is spent on telephone bills at the rate of #36 per minute including VAT, calculate the familyâ€™s telephone bill in a month.
- Calculate the electricity bill of a tenant if the meter reading changed from 40 193 to 45 612 in a quarter of a year and a VAT is 5% for the period, the energy charge is #1.80 per unit, and the demand charge is #60 per month.

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**Presentation**

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The topic is presented step by step

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Step 1:

The class teacher revises the previous topics

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Step 2.

He introduces the new topic

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Step 3:

The class teacher allows the pupils to give their own examples and he corrects them when the needs arise

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### Evaluation

**PRACTICE QUESTIONS**

- If the cost of transport is reduced by 10% and added to the cost of school fees, what will be the amounts for school fees and transport?
- A clerk wants to save some money towards his retirement. If his monthly income #24 800, and he is left with affixed amount of #8 000 to save a month:

(a) In how many months will he be able to save #2 400 000?

(b) What is the percentage of his savings to his income per month?

- The cost of renting a video shop was reduced by 12% to encourage customers to rent it. Find the cost of renting the shop originally marked #72 000 per annum
- The present meter reading for water is 14 334. Calculate the previous reading of the meter after 2 005 units of water is consumed in a month.
- The rateable value of a poultry farm is #6 256. Find how much the owner will pay when the rate of 54k in the naira is increased in the ratio 3:2 and the rateable value is increased in the ratio 2:1

**ASSIGNMENT**

- A man saves 12% of his monthly income and spends the rest on feeding and entertainment. Calculate the manâ€™s monthly savings if his salary is #38 250 per month.
- Calculate the amount of rent that should be paid on a house of #96 500 given at a discount of 15% per annum for two years.
- To raise sufficient income for development, a city declared a rate of 72k in the naira on #16 750 000 income. Find the rateable value of the house.
- Calculate the water bill for a company whose meter reading changed from 24 151 to 30 169 in two months at a fixed charge #65 per month if #1.20 per unit of water is charged plus 5% VAT
- A woman made local calls at the rate of #36 per minute for 2 hours 16 minutes and international calls at the rate of #39 per minute for 1 hour 12 minutes in a month. If the rental charge is #60, plus 5% VAT per month, find the womanâ€™s telephone bill in a month and the amount of money the government will receive.

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**Conclusion**

The class teacher wraps up or concludes the lesson by giving out a short note to summarize the topic that he or she has just taught.

The class teacher also goes round to make sure that the notes are well copied or well written by the pupils.

He or she makes the necessary corrections when and where the needs arise.

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