Money – Rates, Taxes, Shares and Dividends (Primary 6)

MATHEMATICS

SECOND TERM 

WEEK 1

PRIMARY 6

THEME – MEASUREMENTS 

 PREVIOUS LESSON – First Term Examination Links For Primary Schools

TOPIC – MONEY 

LEARNING AREA

1. Taxes

2. Rates

3. Buying and Selling Shares

PERFORMANCE OBJECTIVES 

By the end of the lesson, the pupils should have attained the following objectives (cognitive, affective and psychomotor) and should be able to –

1. solve problems on taxes and rates.

2. solve problems involving buying and selling of share and dividends.

3. solve problems on quantitative aptitude based on taxes and rate as well as selling of share and dividends.

ENTRY BEHAVIOUR

INSTRUCTIONAL MATERIALS

The teacher will teach the lesson with the aid of –

Chart on market pricing index.

METHOD OF TEACHING – Choose a suitable and appropriate methods for the lessons.

Note – Irrespective of choosing methods of teaching, always introduce an activities that will arouse pupil’s interest or lead them to the lessons. 

REFERENCE MATERIALS

1. Scheme of Work

2. 9 – Years Basic Education Curriculum

3. Course Book

4. All Relevant Material

5. Online Information

CONTENT OF THE LESSON  

LESSON 1 INTRODUCTION

Teacher’s/Pupil’s Activities 1 – Government’s Taxes and Rates 

What are the things that government provides for us free of charge?.

1. Schools

2. Hospitals

3. Roads

What are the things that government does not provide for free?

1. Markets

2. Some hospital’s drugs

3. Water

The money used to provide all these things come from where?

Teacher’s remark – The money that the government used to provide for all these things come from taxes and rates. Taxes are money that the government collect from people to provide what they need. While rates are money that the government collected for providing some certain services such as markets, parks, recreation centers, etc. We pay because it is our duties and responsibilities to the government and to ourselves. 

Teacher’s/Pupil’s Activities 2 – Methods Collecting or Paying Taxes and Rates 

What are the methods of collecting or paying taxes and rate?

1. Paying directly to the government account.

2. Paying monthly bills issued – PHCN, Water, etc.

3. Paying at the service center – parks, amusement parks, national parks, etc.

Teacher’s remark – Other methods include direct taxes. These taxes are levy on salaries, goods and services. The mentioned methods of paying or collecting taxes and rates are called indirect method. 

Pupil’s Activities 2 – Class Exercises/Assignments 

1. If Lagos State Water Cooperation collects water rate at  ₦5 per house. How much is paid by 450 houses.

Hint – A house paid  ₦5, two houses – ₦5 x 2, three houses – ₦5 x 3,….. 450 houses –  ₦5 x 450.

2. Apapa Local Government Authority charges ₦2,500 on each shop per month in the shopping complex. Find how much government collests on 200 shops per month. 

LESSON 2 – QUANTITATIVE REASONING ON TAXES AND RATES

As stated in their quantitative books and textbooks. 

LESSON 3 – BUYING AND SELLING SHARES 

Teacher’s/Pupil’s Activities 1 – Start up capital 

What do we need to set up a business?

Money

How did we get money to set up a business?

1. Savings

2. Gift – money giving as gift.

3. From family and friends

4. Money borrowed from banks, family and friends, etc.

Teacher’s remark – We can get money to set up a business from the following mentioned above. When a business is not doing well, there is need to raise money to support the business. One of the ways is selling shares to the general public (people), inviting people to invest in their business by buying the shares. 

Mostly, it is the big businesses that are allowed to selling shares. But any can buy shares depending on the company’s policy. 

 

Teacher’s/Pupil’s Activities 2 – Guide the pupils to attend the following questions 

A metal manufacturing company Sells some of its 40k per share.

1. What is the cost of 800 shares?

2. How many shares can I buy With ₦1,250?

Solutions

Cost of a share is 40k

1. Cost of 800 shares

Cost of 800 shares is 800 x 40/100   (100 kobo = ₦1)

=  ₦320

 

2. Number of shares in ₦1,250

= 1,250 x 100/40

= 1,250 x 100/40

= 1,250 x 10/4

= 12,500/4

= 3,125 shares.

Pupil’s Activities 3 – Class Exercises/Assignments 

LESSON FOUR – DIVIDEND

Pupil’s Activities 1 – What is the different between a gain and loss? 

A gain is the profit we make when selling goods above the actual or cost price. While is when we sell goods below the actual price.

Note – Lets the pupils say the different with examples. 

Teacher’s remark – Good points. Just like the profit (gain), dividend is also surplus or extra money to the shareholders. A shareholder is the person who have shares in a company. 

Teacher’s/Pupil’s Activities 2 – A shareholder has 200 shares in a Company. How much is his Dividend if dividend are given at 5K per share and at 5%.

 

Guide pupils to into the activities that will make them recognize that the more shares you have, the more dividend you get.

1. At 5k per share.

1 share = 5k,

2 shares = ____,

3 shares = ___, etc.

200 shares = ____.

 

Asks pupils to multiple 200 by 5 kobo 

Dividend on 200 shares = 200 x 5 kobo = 1, 000 kobo

Lets them know that the answer must be in Naira. Since 100k = ₦1. Asks them to divide 1, 000 kobo by 100.

1,000/100 = ₦10.

Therefore, his dividend is ₦10.

2. At 5%.

= 200 x 40 x 5/100

= 2 x 40 x 5

= 400/100 (100 kobo = ₦1)

= ₦4.

 

Pupil’s Exercises – What is the dividend at 80 kobo per share and at 80%, if a man has 1500 shares. 

LESSON FIVE – CONVERSION OF CURRENCIES

Teacher’s/Pupil’s Activities 1 – Questions based Nigerian and Foreign currencies 

Teacher’s Questions 

1. What is currency?

2. What is the name of Nigerian currency?

3. State 5 foreign goods in Nigeria and how to buy these goods with Nigerian currency.

4. Mention 5 Nigerian goods sold to other countries with what currency.

5. State the currency of America, Ghana, Britain, China, and South Africa.

Note – Teacher should listen and come in where necessary. 

Pupil’s Response 

1. Currency means money spent in local and international.

2. Nigerian currency is Naira (₦).

3. Cars, electronics, mobile phones, computers and building materials. Naira is changed to other country’s currencies to be able to buy these goods.

4. Crude oil, agricultural products such as cocoa, cassava, snails, etc. Nigerian sold goods to other countries with corresponding Nigerian value.

5. America – Us Dollar ($), Ghana – Cedis (¢), Britain – Pound Sterling (£), China – Yuan (¥) and South Africa – Rand (R).

With teacher’s contributions.

Teacher’s remark – The changing of one currency to another is known as Exchange or conversion Rate. 

Pupil’s Activities 2 – Study the currency chart 

Teacher’s remark – The chart represents currency rates between Nigeria and the selected countries. 

 

Pupil’s Exercises/Assignments 

Convert the following currencies based on the exchange rate rates in the table.

1. £500 to naira

2. 375 Cedis to naira

3. $100 to naira

4. 760 Rand to naira

5. 230 Yuan to naira

6. ₦1230 to Pound Sterling, Cedis, Yuan, Rand and Dollars

PRESENTATION

To deliver the lesson, the teacher adopts the following steps:

1. To introduce the lesson, the teacher revises the previous lesson. Based on this, he/she asks the pupils some questions;

2. Guides pupils to give reasons for some levies.

Pupil’s Activities – List items on which taxes and rates could be taken.

3. Guides pupils in the transaction of buying and selling of shares.

4. Guides pupils to calculate taxes , rates and share dividends.

Pupil’s Activities – Calculates taxes, rates and shares dividends.

5. Guides pupils to solve problems on quantitative aptitude based on taxes and rates as well as selling of shares and dividends.

Pupil’s Activities – Solve problems on quantitative aptitude based on taxes and rates as well as selling of share and dividends.

CONCLUSION

• To conclude the lesson for the week, the teacher revises the entire lesson and links it to the following week’s lesson.

• Next Lessons – Second Term Scheme of Work and Plan Lesson Notes for MATHEMATICS Week 1 to Week 12 Primary Schools

LESSON EVALUATION 

Pupils to:

1. List items on which taxes and rates could be taken.

2. calculate taxes, rates and share dividends.

3. solve quantitative aptitude problems.