teaching resource

Money and Finances Maths Investigation – Pop–Up Shop on Wheels

Updated: 03 Mar 2020

A project where students use their mathematic skills to plan a fundraiser for a charity of choice.

Non-Editable: PDF
Pages: 17 Pages
Years: 4 - 6

Curriculum

VC2M4N07

Choose and use estimation and rounding to check and explain the reasonableness of calculations, including the results of financial transactions <ul> <li>using proficiency with basic facts to estimate the result of a calculation and say what amounts the answer will be between; for example, 5 packets of biscuits at $2.60 each will cost between $10 and $15 as 5 × $2 = $10 and 5 × $3 = $15</li> <li>using rounded amounts to complete an estimated budget for a shopping trip or an excursion, explaining why overestimating the amounts is appropriate</li> <li>recognising the effect of rounding in addition and multiplication calculations; rounding both numbers up, both numbers down, and one number up and one number down, and explaining which is the best approximation and why</li> </ul>
VC2M4N09

Use mathematical modelling to solve practical problems that involve additive and multiplicative situations, including financial contexts; formulate the problems using number sentences and choose efficient calculation strategies, using digital tools where appropriate; interpret and communicate solutions in terms of the situation <ul> <li>modelling and solving a range of practical additive problems using materials, part-part-whole diagrams and/or a bar model, and writing addition and/or subtraction number sentences, based on whether a part or the whole is missing; and explaining how each number in their number sentence is connected to the situation</li> <li>modelling practical problems with division, interpreting and representing the situation using a diagram or array to represent what is unknown (the number of groups, or the number per group); and writing a division number sentence to represent the situation and choosing an efficient calculation strategy</li> <li>modelling practical problems involving money (such as a budget for a large event) that require either addition, subtraction, multiplication or division and justifying the choice of operation in relation to the situation</li> <li>modelling and solving multiplication problems involving money, such as buying 5 toy scooters for $96 each, using efficient mental strategies and written jottings to keep track if needed; for example, rounding $96 up to $100 and subtracting 5 × $4 = $20, so 5 × $96 is the same as 5 × $100 less $20, giving the answer $500 − $20 = $480</li> <li>modelling situations by formulating comparison problems using number sentences, comparison models and arrays; for example, ‘Ariana read 16 books for the “readathon”; Maryam read 4 times as many books. How many books did Maryam read?’ using the expression 4 × 16 and using place value partitioning, basic facts and an array, thinking 4 × 10 = 40 and 4 × 6 = 24, so 4 × 16 can be written as 40 + 24 = 64</li> </ul>
VC2M5N06

Solve problems involving multiplication of larger numbers by one- or two-digit numbers, choosing efficient mental and written calculation strategies and using digital tools where appropriate; check the reasonableness of answers <ul> <li>solving multiplication problems such as 253 × 4 using a doubling strategy, for example, 2 × 253 = 506 and 2 × 506 = 1012</li> <li>solving multiplication problems like 15 × 16 by thinking of factors of both numbers, 15 = 3 × 5, 16 = 2 × 8, and rearranging the factors to make the calculation easier, 5 × 2 = 10, 3 × 8 = 24 and 10 × 24 = 240</li> <li>using an array to show place value partitioning to solve multiplication, such as 324 × 8, thinking 300 × 8 = 2400, 20 × 8 = 160, 4 × 8 = 32 then adding the parts, 2400 + 160 + 32 = 2592; and connecting the parts of the array to a standard written algorithm</li> <li>using different strategies used to multiply numbers, and explaining how they work and if they have any limitations; for example, discussing how the Japanese visual method for multiplication is not effective for multiplying larger numbers</li> </ul>
VC2M6N09

Use mathematical modelling to solve practical problems involving rational numbers and percentages, including in financial contexts; formulate the problems, choosing operations and using efficient mental and written calculation strategies, and using digital tools where appropriate; interpret and communicate solutions in terms of the situation, justifying the choices made <ul> <li>modelling practical situations involving percentages using efficient calculation strategies to find solutions, such as mental calculations, spreadsheets, calculators or a variety of informal jottings, and interpreting the results in terms of the situation, for example, purchasing items during a sale</li> <li>modelling situations involving earning money and budgeting, asking questions such as ‘Can I afford it?’, ‘Do I need it?’ and ‘How much do I need to save for it?’ and developing a savings plan or budget for an upcoming event or personal purchase</li> <li>modelling and solving the problem of creating a budget for a class excursion or family holiday, using the internet to research costs and expenses, and representing the budget in a spreadsheet, creating and using formulas to calculate totals</li> </ul>

teaching resource

Money and Finances Maths Investigation – Pop–Up Shop on Wheels

Updated: 03 Mar 2020

A project where students use their mathematic skills to plan a fundraiser for a charity of choice.

Non-Editable: PDF
Pages: 17 Pages
Years: 4 - 6

A project where students use their mathematic skills to plan a fundraiser for a charity of choice.

This open-ended mathematics investigation has been designed to deepen students’ understanding of financial mathematics.

The scenario involves selling uniquely designed merchandise to fundraise for a charity of choice.

Students design a logo to represent ideas related to their chosen charity. Once they have chosen a design, they will need to apply it to three types of merchandise, plus a pop-up shop in the form of a truck. Students will then need to use their money and finances skills to calculate how many items they need to sell in order to make a profit.

Curriculum

VC2M4N07

Choose and use estimation and rounding to check and explain the reasonableness of calculations, including the results of financial transactions <ul> <li>using proficiency with basic facts to estimate the result of a calculation and say what amounts the answer will be between; for example, 5 packets of biscuits at $2.60 each will cost between $10 and $15 as 5 × $2 = $10 and 5 × $3 = $15</li> <li>using rounded amounts to complete an estimated budget for a shopping trip or an excursion, explaining why overestimating the amounts is appropriate</li> <li>recognising the effect of rounding in addition and multiplication calculations; rounding both numbers up, both numbers down, and one number up and one number down, and explaining which is the best approximation and why</li> </ul>
VC2M4N09

Use mathematical modelling to solve practical problems that involve additive and multiplicative situations, including financial contexts; formulate the problems using number sentences and choose efficient calculation strategies, using digital tools where appropriate; interpret and communicate solutions in terms of the situation <ul> <li>modelling and solving a range of practical additive problems using materials, part-part-whole diagrams and/or a bar model, and writing addition and/or subtraction number sentences, based on whether a part or the whole is missing; and explaining how each number in their number sentence is connected to the situation</li> <li>modelling practical problems with division, interpreting and representing the situation using a diagram or array to represent what is unknown (the number of groups, or the number per group); and writing a division number sentence to represent the situation and choosing an efficient calculation strategy</li> <li>modelling practical problems involving money (such as a budget for a large event) that require either addition, subtraction, multiplication or division and justifying the choice of operation in relation to the situation</li> <li>modelling and solving multiplication problems involving money, such as buying 5 toy scooters for $96 each, using efficient mental strategies and written jottings to keep track if needed; for example, rounding $96 up to $100 and subtracting 5 × $4 = $20, so 5 × $96 is the same as 5 × $100 less $20, giving the answer $500 − $20 = $480</li> <li>modelling situations by formulating comparison problems using number sentences, comparison models and arrays; for example, ‘Ariana read 16 books for the “readathon”; Maryam read 4 times as many books. How many books did Maryam read?’ using the expression 4 × 16 and using place value partitioning, basic facts and an array, thinking 4 × 10 = 40 and 4 × 6 = 24, so 4 × 16 can be written as 40 + 24 = 64</li> </ul>
VC2M5N06

Solve problems involving multiplication of larger numbers by one- or two-digit numbers, choosing efficient mental and written calculation strategies and using digital tools where appropriate; check the reasonableness of answers <ul> <li>solving multiplication problems such as 253 × 4 using a doubling strategy, for example, 2 × 253 = 506 and 2 × 506 = 1012</li> <li>solving multiplication problems like 15 × 16 by thinking of factors of both numbers, 15 = 3 × 5, 16 = 2 × 8, and rearranging the factors to make the calculation easier, 5 × 2 = 10, 3 × 8 = 24 and 10 × 24 = 240</li> <li>using an array to show place value partitioning to solve multiplication, such as 324 × 8, thinking 300 × 8 = 2400, 20 × 8 = 160, 4 × 8 = 32 then adding the parts, 2400 + 160 + 32 = 2592; and connecting the parts of the array to a standard written algorithm</li> <li>using different strategies used to multiply numbers, and explaining how they work and if they have any limitations; for example, discussing how the Japanese visual method for multiplication is not effective for multiplying larger numbers</li> </ul>
VC2M6N09

Use mathematical modelling to solve practical problems involving rational numbers and percentages, including in financial contexts; formulate the problems, choosing operations and using efficient mental and written calculation strategies, and using digital tools where appropriate; interpret and communicate solutions in terms of the situation, justifying the choices made <ul> <li>modelling practical situations involving percentages using efficient calculation strategies to find solutions, such as mental calculations, spreadsheets, calculators or a variety of informal jottings, and interpreting the results in terms of the situation, for example, purchasing items during a sale</li> <li>modelling situations involving earning money and budgeting, asking questions such as ‘Can I afford it?’, ‘Do I need it?’ and ‘How much do I need to save for it?’ and developing a savings plan or budget for an upcoming event or personal purchase</li> <li>modelling and solving the problem of creating a budget for a class excursion or family holiday, using the internet to research costs and expenses, and representing the budget in a spreadsheet, creating and using formulas to calculate totals</li> </ul>

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