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MATHEMATICS SECOND TERM E LESSON NOTE FOR BASIC SIX
Class: Basic 6
Subject:- Mathematics
Week:- 2
Topic: Money ( Rates, Taxes, Shares and dividends)
Behavioral objective:- At the end of the lesson, the pupils should be able to:-
- Solve problems on taxes and Rates on population and economic Consequences.
- Solve problems on buying and Selling of shares and dividends.
Instructional material/Reference material:- Learn Africa Mathematics UBE edition for primary school book 6
Building Background /connection to prior knowledge: Students are familiar with the uses of money
Content
MONEY
Rate – means what the government Provides for her people.
Example:- Agege Local government charges N5.50 monthly for the user: Find The total rent collected monthly From
(A). 50 stalls (B) 160 stalls
Solution:-
(A). Monthly rate collected for N50
Stalls is 𝑁5.50×50 𝑁275.00
Taxes: This is the money that Government uses to build schools, Hospitals, roads etc
Example:- Tax deducted from the taxable Income of an employee is 35K on Every N1. Find the tax paid if the Taxable income is N4,500
Solution:-
= (4,500×35)K = 1,575.00K = 1,575.00
Shares: The amount needed is Divided into units and each unit is
Called a share.
Example:- A metal manufacturing company Sells some of its 40K share to the Public who are ready to buy in Multiples of 200.
(i). What is the cost of 800 shares?
(ii). How many shares can I buy With N1, 250?
Solution
Cost of one share = 40K
Cost of 800 Share = 40×800 = N( 40×800)= N32,000
(ii). 40K can buy only one share: N1,250 will buy 1250×200 40 1 = 1250×5
= N6,250 shares
Dividends:- This is the amount Made from the goods sold at the End of the year. The profit is called Dividend.
Example: A share holder has 200 shares in a Company. How much is his Dividend if dividend are given at 5 1/2K per share.
Solution
Dividend on 1 share = 5 1/2
Dividend on 200 shares = 11/ 2 × 200/ 10 = N1100
Evaluation:-
- An executive lady earns two million naira per annum.
(a) Work out her income tax b) Work out her monthly tax
- At the Marina Car Park, Ώ400 naira is charged to park a jeep and Ώ250 to park a car. How much will the Car Park Authority collect for parking 250 cars and 360 jeeps in a day?
- The IKEDC charge for a company is Ώ48275 VAT inclusive. If 10% was charged as VAT, how much was that?
- Find the rent collected by Local Government Authority from 276 stalls at the rate of Ώ5600 per stall.
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