If Mary earns ₦50 000.00 per month and spends ₦35 000.00 altogether and saves the rest, what percentage is her savings?

Lesson Plan Presentation: Understanding Savings Percentage

Objective:

Students will learn how to calculate savings percentage based on earnings and spending.

Materials Needed:

Whiteboard and markers
Worksheets with sample problems

Calculator (optional, depending on students’ proficiency)
Visual aids (charts or diagrams illustrating savings percentage)

Introduction (10 minutes):

Engagement: Begin with a simple question to engage students. Ask if they have ever received pocket money or earned money doing chores.
Definition: Explain the concept of savings and introduce the term “savings percentage.” Define savings as money set aside from earnings after deducting spending.
Real-world Example: Share a relatable example, like a student earning money from a part-time job and spending some on hobbies or treats.

Main Instruction (20 minutes):

Basic Formula: Present the basic formula for calculating savings percentage: $Percentage = (Earnings Savings) \times 100$
Step-by-Step Explanation: Break down the formula into steps using a sample problem. Emphasize the importance of subtracting spending from earnings to find savings.

Worked Examples: Solve a few worked examples together, involving different amounts for earnings and spending. Encourage students to follow along and take notes.

Guided Practice (15 minutes):

Interactive Exercise: Distribute worksheets with fill-in-the-blank questions for students to practice calculating savings percentage. Walk around to assist and clarify doubts.

Class Discussion: Review the answers together, discussing the reasoning behind each step. Address common mistakes and provide additional examples if needed.

Independent Practice (10 minutes):

Individual Exercises: Assign additional problems for students to solve independently. This reinforces their understanding of the concept.

Peer Review: Encourage students to exchange papers and check each other’s work. Discuss any discrepancies to promote collaborative learning.

Application (10 minutes):

Real-life Scenarios: Discuss real-life scenarios where understanding savings percentage is crucial, such as budgeting or planning for future expenses.

Class Activity: Divide the class into small groups and assign each group a scenario. Have them calculate savings percentages and present their solutions to the class.

Conclusion (5 minutes):

Review: Summarize key points of the lesson, emphasizing the importance of saving a portion of earnings.

Reflection: Ask students to reflect on how understanding savings percentage can be beneficial in managing money.

Homework Assignment: Assign a set of problems for homework, encouraging students to apply the concept to different situations.

Assessment: Evaluate students based on their participation in class discussions, accuracy in solving problems, and completion of the homework assignment.

Note: Adjust the pacing and difficulty of problems based on the students’ comprehension levels.

If Mary earns ₦50 000.00 per month and spends ₦35 000.00 altogether, then her savings would be ₦15 000.00. To calculate the percentage of her savings, we can use the following formula:

Savings Percentage = (Savings / Income) * 100

Substituting the values, we get:

Savings Percentage = (₦15 000.00 / ₦50 000.00) * 100 = 30%

Therefore, Mary’s savings constitute 30% of her income.

It’s worth noting that the percentage of savings can vary depending on individual circumstances and financial goals. However, a general rule of thumb is to save 20% of your income ^Ad ¹ ² ³.

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To find Mary’s savings percentage, divide her savings by her earnings, then multiply by 100.

Savings = Earnings – Spending
Savings = 50,000.00 – 35,000.00
Savings = 15,000.00

Percentage = (Savings / Earnings) * 100
Percentage = (15,000.00 / 50,000.00) * 100
Percentage = 30%

So, Mary saves 30% of her earnings.

If Mary earns ₦50,000.00 monthly and spends ₦35,000.00, her savings are ₦15,000.00. To find her savings percentage, divide ₦15,000.00 by ₦50,000.00, then multiply by 100. Mary saves 30%.

Example 1:
Mary earns ₦40,000.00 monthly and spends ₦28,000.00. Calculate her savings and the percentage saved.

Solution:
Savings = Earnings – Spending
Savings = ₦40,000.00 – ₦28,000.00
Savings = ₦12,000.00

Percentage = (Savings / Earnings) * 100
Percentage = (₦12,000.00 / ₦40,000.00) * 100
Percentage = 30%

Example 2:
John’s monthly earnings are ₦60,000.00, and he spends ₦45,000.00. Determine his savings percentage.

Solution:
Savings = Earnings – Spending
Savings = ₦60,000.00 – ₦45,000.00
Savings = ₦15,000.00

Percentage = (Savings / Earnings) * 100
Percentage = (₦15,000.00 / ₦60,000.00) * 100
Percentage = 25%

Example 3:
If Amina earns ₦25,000.00 per month and spends ₦20,000.00, find her savings and the percentage saved.

Solution:
Savings = Earnings – Spending
Savings = ₦25,000.00 – ₦20,000.00
Savings = ₦5,000.00

Percentage = (Savings / Earnings) * 100
Percentage = (₦5,000.00 / ₦25,000.00) * 100
Percentage = 20%

Example 4:
Olu earns ₦35,000.00 monthly and spends ₦30,000.00. Calculate his savings and the percentage saved.

Solution:
Savings = Earnings – Spending
Savings = ₦35,000.00 – ₦30,000.00
Savings = ₦5,000.00

Percentage = (Savings / Earnings) * 100
Percentage = (₦5,000.00 / ₦35,000.00) * 100
Percentage = 14.29% (rounded to two decimal places)

Example 5:
Fatima earns ₦48,000.00 per month and spends ₦36,000.00. Determine her savings and the percentage saved.

Solution:
Savings = Earnings – Spending
Savings = ₦48,000.00 – ₦36,000.00
Savings = ₦12,000.00

Percentage = (Savings / Earnings) * 100
Percentage = (₦12,000.00 / ₦48,000.00) * 100
Percentage = 25%

Mary earns ₦60,000.00 monthly and spends ₦45,000.00. Her savings are ________.
a) ₦15,000.00
b) ₦10,000.00
c) ₦5,000.00
d) ₦20,000.00
If Aisha’s monthly earnings are ₦30,000.00 and she spends ₦25,000.00, her savings percentage is ________.
a) 15%
b) 10%
c) 20%
d) 25%
Olu saves ₦8,000.00 out of his ₦40,000.00 earnings. His savings percentage is ________.
a) 15%
b) 20%
c) 10%
d) 25%
If Ali spends ₦30,000.00 out of ₦50,000.00, his savings are ________.
a) ₦10,000.00
b) ₦15,000.00
c) ₦20,000.00
d) ₦25,000.00

Rachel earns ₦25,000.00 and saves ₦7,500.00. Her savings percentage is ________.
a) 25%
b) 30%
c) 20%
d) 15%
If Tony’s savings are ₦12,000.00 and he spends ₦48,000.00, his earnings are ________.
a) ₦60,000.00
b) ₦36,000.00
c) ₦40,000.00
d) ₦50,000.00
Fatima saves 40% of her ₦45,000.00 earnings. Her savings amount is ________.
a) ₦15,000.00
b) ₦18,000.00
c) ₦20,000.00
d) ₦22,500.00

If Peter earns ₦28,000.00 and spends ₦22,400.00, his savings are ________.
a) ₦5,600.00
b) ₦6,400.00
c) ₦7,600.00
d) ₦8,400.00
Amina spends 30% of her ₦36,000.00 earnings. Her spending amount is ________.
a) ₦10,800.00
b) ₦12,600.00
c) ₦9,000.00
d) ₦11,000.00
If David earns ₦42,000.00 and saves ₦8,400.00, his spending is ________.
a) ₦28,000.00
b) ₦33,600.00
c) ₦35,600.00
d) ₦38,400.00

Lola saves ₦15,000.00, which is 25% of her earnings. Her earnings are ________.
a) ₦60,000.00
b) ₦50,000.00
c) ₦45,000.00
d) ₦55,000.00
If James saves ₦10,000.00 and spends 20% of his ₦40,000.00 earnings, his spending amount is ________.
a) ₦6,000.00
b) ₦8,000.00
c) ₦12,000.00
d) ₦15,000.00
If Sarah’s savings are ₦9,000.00 and she saves 15% of her earnings, her earnings are ________.
a) ₦54,000.00
b) ₦60,000.00
c) ₦45,000.00
d) ₦50,000.00

Ahmed spends ₦24,000.00, which is 40% of his earnings. His earnings are ________.
a) ₦60,000.00
b) ₦50,000.00
c) ₦45,000.00
d) ₦55,000.00
If Tina earns ₦32,000.00 and spends ₦25,600.00, her savings are ________.
a) ₦6,400.00
b) ₦7,400.00
c) ₦8,400.00
d) ₦9,400.00

PRIMARY 5 THIRD TERM LESSON NOTE PLAN MATHEMATICS

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