Financial maths: smart with money
Profit and loss, a budget, simple interest and what ‘buy now, pay later’ really costs. Read one step, play with it, then tap “I understand this”.
Profit and loss
The cost price is what you paid. The selling price is what you sell for. Selling price − cost price = profit (if it is positive) or loss (if it is negative).
The tuck shop business
Change the cost price and the selling price.
Make a budget
A budget is a plan for your money: what comes in (income) and what goes out (expenses). If the expenses are bigger than the income, you come up short.
Your monthly budget
You get R400 pocket money. Change the expenses.
Simple interest
If you put money in the bank, the bank pays you interest. If you borrow, you pay interest. With simple interest the interest is the same every year: interest = P × r% × n.
The savings account
Change the amount, the interest rate and the years.
The bank lends your savings to other people and charges them interest. It pays you part of that because you left your money there. When you borrow, you are the one who pays interest.
Buy now, pay later
On credit (hire purchase) you pay a deposit and then an instalment every month. Add everything up and compare it with the cash price.
Cash or credit?
Tap “Another one” for a different purchase.
Look at the total, not just the small monthly amount. R250 a month sounds little, but 12 × R250 = R3 000.
Play: the money game
Smart with money
Choose the right answer.
Correct: 0Check yourself
- Profit = selling price − cost price (negative is a loss).
- A budget: income − expenses = what is left.
- Simple interest = P × r% × n; the same every year.
- Credit: deposit + all the instalments. Compare with the cash price.
Write these points in your maths book. Read them again the night before the test.
Quick questions
Tap an answer. If you get one wrong, read why and go back to that step. You get new questions every time.
You ticked all 5 steps! Now you are ready for the quiz.- Practice sheet for this classQuestions + memo · 2 A4 pagesPractice sheet
- Numbers9 pages · PDFPaperMemo
Ready for more? The Grade 7 financial maths quiz gives you new questions every time.
- One step a day is enough. Ten calm minutes work better than an hour the night before the test.
- Let your child budget a month’s pocket money, or compare a cash price with a credit price in a shop leaflet together.
- Ask your child to tell you the rule in their own words. If they can explain it, they understand it.
- The ticks (“I understand this”) are saved on this device only. We never ask for names or emails.
Follows CAPS for Grade 7 Maths. Always check your teacher’s notes and textbook too.