# Money – Taxes, Rates, Shares and Dividends

MATHEMATICS

SECOND TERM

WEEK 2

PRIMARY 6

TOPIC: Money – Taxes, Rates, Shares and Dividends

LEARNING AREA

1. Lesson One – Taxes
2. Lesson Two – Rates
3. Lesson Three – Shares
4. Lesson Four – Dividends

TIME – 40 Minutes each.

LEARNING OUTCOME

By the end of the lesson, pupils 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.

RATIONALE

Taxes and rates are important sources of income for the government at all levels. These money are used to provide essential social amenities like providing free education, good health care, good road, water, electricity, etc. Taxes are paid not as an offender but as a duties and responsibilities of every citizen while rates are paid by enjoying government facilities such as shops. The knowledge of taxes and rates will enable the pupils to understand important of paying taxes and rates.

Shares are investments while dividends are profits made from the investments. The knowledge of shares and dividends will enable the pupils understand importance of buying and selling shares.

LEARNING MATERIALS

The teacher will teach the lesson with the aid of:

1. Pay slips and tax clearance
2. PHCN bills
3. Tickets
4. Shares certificates
5. Sample of dividend cheque

PREVIOUS KNOWLEDGE

1. The pupils are being to amusement pack, beach (lekki or sultan), buy stationary materials (books, biro, pencil, etc.), have seen PHCN bills, collect tickets for hawking in a certain market, etc.
2. Attend free education.
3. 1oo kobo = ₦1

REFERENCE MATERIALS

1. 9 – Years Basic Education Curriculum
2. Lagos State Scheme of work
3. New Method Mathematics Book 6
4. All Relevant Materials
5. Online Materials

LESSON PLAN/DEVELOPMENT

LESSON DEVELOPMENT 1 – Previous Knowledge

STAGE 1 – Introduction (5 minutes)

Teacher’s Activities – Guided instructions:

1. Asks the pupils if they have been to amusement park, Lekki or Sultan beach?
2. Asks if they enjoy themselves?
4. Ask how much they pay as school fee?
5. The facilities you enjoy at a minimum or at no cost are provided with taxes and rates.
6. How many kobo make ₦1?

Learner’s Activities

1. Yes/No.
2. Very well, if they are been to amusement park, beach, etc.
3. ₦500, ₦700, ₦1,000, etc.
4. Nothing.
5. Understand the concept of taxes and rates.
6. 1oo kobo = ₦1

Learning Points – Previous knowledge, taxes and rates confirm.

STAGE 2 – Grouping (5 minutes)

Teacher’s Activities – Guided instructions:

1. Groups the pupils into four groups – A, B, C, and D.
2. Guide the pupils to choose a leader and secretary for its group.
3. Gives each group an exercise book.
4. Learning materials are given as stated.

Pupil’s Activities

1. Belong to a group.
2. Choose their leader and secretary.
4. Receive learning materials for their group.

Learning Points – Pupil’s group, leader and secretary confirm.

STAGE 3 – Taxes

Teacher’s Activities – Guided instructions:

1. Guides pupils to give reasons for some levies.
2. Guides pupils to solve this questions – if a staff earns ₦15 500 in a month and was paid  ₦15 105 after tax deduction. How much does he pay as tax for the month? A man who earns  ₦10 000 in a month is taxed 50 kobo on every naira. How much does he pay as tax for the month?
3. Supervise and correct.

Pupil’s Activities

1. To provide schools, water, hospitals, amusement park, good roads, security, jobs, etc.
2. ₦15 500 – ₦15 105 = ₦395 was paid as tax.
3. ₦1 = 50 kobo

Learning Points – Lesson confirm.

STAGE 4 – Conclusion (10 minutes)

Teacher’s Activities

• Conclusion

To conclude the lesson for the week, the teacher revises the entire lesson and links it to the following next lesson – rates.

• Assignment

50 Adults paid water rates in a city at ₦225 person. How much was collected in the city.

Pupil’s Activities

• Pupils listen and asked questions. Write down the assignment given.

Lesson Points – Pupils learned taxes.

LESSON DEVELOPMENT 2 – RATES

STAGE 1 – Rates (30 minutes)

Teacher’s Activities

1. Collects their assignment.
2. Guides each group to solve their as a group.
3. Supervises and correct.
4. Guides pupils to solve further question – A low income civic servant paid ₦7 760 income tax. ₦4 420 as NEPA bill and ₦15 680 as tenement rate. How much altogether did she pay on taxes and rates.

Pupil’s Activities

1. Summit their assignments.
2. Follow teacher guidelines to provide solution to the assignment.
3. An adult paid ₦225 per person.
4. Two adults paid ₦225 x 2 = ₦450.
5. Therefore, 50 adult will paid ₦225 x 50 = ₦11 250.
7. Income tax paid = ₦7 760.
8. NEPA bill = ₦4 420.
9. Tenement rate = ₦15 680.
10. Total amount paid is ₦7 760 + ₦4 420 + ₦15 680 = ₦27 860.

Learning Points – Pupils learned taxes and rates.

STAGE 4 – Conclusion (10 minutes)

Teacher’s Activities

• Conclusion

To conclude the lesson for the week, the teacher revises the entire lesson and links it to the following next lesson – shares.

• Assignment

If the cost price of a television set is ₦14 250 and the selling price is ₦18 400. What is the profit.

Pupil’s Activities

1. Pupils listen and asked questions.
2. Write down the assignment given.

Lesson Points – Pupils learned taxes and rates.

LESSON DEVELOPMENT 3 – SHARES

STAGE 1 – Previous Lessons (5 minutes)

Teacher’s Activities

• What is the different between taxes and rates?

Pupil’s Activities

1. Taxes and rates are government source of income.
2. Taxes are money collected to provide basic amenities like free education, good health care, good roads, etc. with little or at no costs.
3. Rates are money collected from using government facilities like hall, market, etc. These money are also used for maintaining and running the government.

Learning Points – Previous knowledge confirm.

STAGE 2 – Assignment (5 minutes)

Teacher’s Activities

1. Collects their assignment.
2. Guides each group to solve theirs as a group – If the cost price of a television set is ₦14 250 and the selling price is ₦18 400. What is the profit
3. Supervises and correct.

Pupil’s Activities

1. Summit their assignments.
2. Follow teacher guidelines to provide solution to the assignment.
3. Cost price is ₦14 250.
4. Selling price is ₦18 400.
5. Profit is Selling price – cost price.
6. ₦18 400 – ₦14 250 = ₦4 150

Learning Points – Correction.

STAGE 4 –

Teacher’s Activities – Guided instructions:

Pupil’s Activities

Learning Points –

STAGE 4 – Conclusion/Assignment

Teacher’s Activities

Pupil’s Activities