Mathematics - Primary 5 - Commercial Math - Money

Commercial Math - Money

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Term: 2nd Term

Week 5

Class: Primary 5
Age: 10 years
Duration: 40 minutes of 5 periods
Date:
Subject: Mathematics
Topic: Commercial Math - Money

SPECIFIC OBJECTIVES:

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

  1. Recognize currencies used in Nigeria and other countries.
  2. Convert one currency to another using the rate of conversion.
  3. Solve problems involving profit and loss in real life.
  4. Solve quantitative aptitude problems related to profit and loss.

INSTRUCTIONAL TECHNIQUES:

  • Demonstration
    • Group activities
    • Problem-solving approach
    • Use of real-life examples
    • Interactive discussions

INSTRUCTIONAL MATERIALS:

  • Flashcards with different currencies
    • Rate conversion charts
    • Markers, whiteboard, and erasers
    • Worksheet for exercises
    • Examples of real-life profit and loss problems

 

INSTRUCTIONAL PROCEDURES:

PERIOD 1 and 2:
PRESENTATION

Step

Teacher’s Activity

Pupil’s Activity

STEP 1 – INTRODUCTION

Introduces the currencies used in Nigeria and other countries and explains their symbols and value.

Pupils listen and ask questions for clarification.

STEP 2 – EXPLANATION

Demonstrates how to convert one currency to another using the exchange rate.

Pupils observe and take notes.

STEP 3 - DEMONSTRATION

Solves examples of currency conversion (e.g., convert Naira to Dollars, Naira to Pounds, etc.).

Pupils practice converting currencies with guidance.

STEP 4 - NOTE TAKING

Writes currency symbols and conversion rates on the board.

Pupils take notes on currency conversion.

NOTE (On the Board):

  • Conversion Example: 1 USD = 500 NGN
    To convert $50 to Naira: 50 × 500 = 25,000 NGN

 

EVALUATION:

  • Ask pupils to convert the following:
  1. 100 USD to Naira (using exchange rate of 500 NGN to 1 USD).
  2. 200 Pounds to Naira (using exchange rate of 600 NGN to 1 Pound).

CLASSWORK:

  • Convert the following currencies:
  1. 50 USD to Naira.
  2. 30 Pounds to Naira.

ASSIGNMENT:

  • Solve 10 currency conversion problems using different currencies.

CONCLUSION:
The teacher encourages pupils to practice currency conversion regularly.

 

PERIOD 3 and 4:
PRESENTATION

Step

Teacher’s Activity

Pupil’s Activity

STEP 1 – INTRODUCTION

Introduces the concept of profit and loss in real life.

Pupils listen and engage in a discussion on profit and loss.

STEP 2 – EXPLANATION

Explains profit and loss concepts, using simple examples (buying and selling).

Pupils watch and take notes on profit and loss.

STEP 3 - DEMONSTRATION

Demonstrates real-life problems involving profit and loss.

Pupils observe and solve problems with guidance.

STEP 4 - NOTE TAKING

Writes examples and formulae for calculating profit and loss.

Pupils take notes on profit and loss calculations.

NOTE (On the Board):

  • Profit = Selling Price – Cost Price
  • Loss = Cost Price - Selling Price

 

EVALUATION:

  • Ask pupils to calculate profit and loss in the following examples:
  1. Bought a toy for N100 and sold it for N150. Find the profit.
  2. Bought a book for N200 and sold it for N150. Find the loss.

CLASSWORK:

  • Solve the following:
  1. Bought a shirt for N500 and sold it for N600. Find the profit.
  2. Bought a pen for N30 and sold it for N25. Find the loss.

ASSIGNMENT:

  • Solve 10 profit and loss problems from real-life scenarios.

CONCLUSION:
The teacher reminds pupils to apply profit and loss calculations in daily transactions and commends them for their understanding.

 

PERIOD 5:
PRESENTATION

Step

Teacher’s Activity

Pupil’s Activity

STEP 1 – INTRODUCTION

Introduces simple interest, discount, and commission in business transactions.

Pupils listen and ask questions.

STEP 2 – EXPLANATION

Explains simple interest, discount, and commission with examples from real life (post offices, markets, banks).

Pupils observe the explanations and take notes.

STEP 3 - DEMONSTRATION

Solves examples of discount, commission, and simple interest problems.

Pupils solve similar problems with guidance.

STEP 4 - NOTE TAKING

Writes key formulas for simple interest, discount, and commission on the board.

Pupils take notes.

NOTE (On the Board):

  • Simple Interest = Principal × Rate × Time ÷ 100
  • Discount = Original Price - Discounted Price
  • Commission = Percentage of Sales

 

EVALUATION:

  • Ask pupils to solve problems on simple interest, discount, and commission.

CLASSWORK:

  • Calculate the following:
  1. Simple interest on N1000 for 2 years at 5%.
  2. Commission of 10% on N2000 sales.
  3. Discount of 20% on a N500 item.

ASSIGNMENT:

  • Solve 10 problems related to simple interest, discount, and commission.

CONCLUSION:
The teacher concludes the lesson by encouraging pupils to practice solving business transaction problems and reminds them that these concepts apply to real-world scenarios.