Unit 1: Unit Pricing and Currency Exchange

Overview: In this unit we will be developing critical thinking and number sense skills.

Simplifying fractions

There are some questions you can ask to help you simplify a fraction into its simplest form
• Is the numerator one?
1
o If yes, the fraction is in its simplest form (example: )
10
• Is the numerator and denominator both even numbers?
o If yes, 2 is always a common factor

Solve for x in an equation containing fractions

This activity is to build your algebra skills you will need to complete the next part of the unit

Anytime you have x in a fraction you may need to cross multiply

General steps: Step1: (Cross multiply) Multiply known terms
Step 2: (Divide) Divide product of known terms by remaining term

1 𝑋
Example 1: =
2 8

𝑥 12 5 𝑥 𝑥 5
Try it: = = =
4 3 2 10 16 24

1
 8 2
Example 2: =
16 𝑥

1 2 3 9 16 4
Try it: = = =
4 𝑥 2 𝑥 𝑥 2

Mathworks pg 11 #1, pg 13 #2
Lesson 1.1 Proportional Reasoning
Today’s ‘I can’ statement from Outcome 1:
I can compare the unit price of two or more given items.
Take a moment and reflect on the word ratio. Where have you heard this term before? What
does the word ratio mean?

Ratio
Ratio: is a comparison between two numbers with the same units.
• Since the units are the same you can omit them during your calculations, but remember
to include them in your solution.

A ratio can be written in several different ways:

𝑛𝑢𝑚𝑏𝑒𝑟
Type 1: ____ : ____ Type 2: ____ to ____ Type 3: A fraction → 𝑛𝑢𝑚𝑏𝑒𝑟

Example 1: Write the following expression using the three ways to write a ratio: Canucks win 3
out of 4 games
___ : ___ ___ to ___

Try it! Write the following expression using the three ways to write a ratio:
two out of three teenagers saw the movie Inside Out.
___ : ___ ___ to ___

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 • The quantities in a ratio are called the terms.
• Have you heard of the word simplify before? It means to bring things down into lowest
terms.
• When working with ratios we should simplify them first

For example: the ratio 20:50 can be simplified to 2:5 by ÷ each term by 10.
• the key is to divide both numbers by the same number. **
• Also known as the common factor
• Think of ratios as fractions, so when you have simplify a ratio think of it as simplifying a
fraction
20
Ratio is 50
Step 1: Divide by top and bottom by the same number:
20 ÷ 10
50 ÷ 10
2
Step 2: Write the answer as a new ratio
5
[So 20:50 is an equivalent ratio to 2:5. Equivalent meaning equal to]

Example 2: Steven’s soccer team played 16 games and won 12 of them. Express the number of
games won to the number of games played as a ratio in its simplest form in three ways.
Step 1: Write out as a fraction.
Step 2: Find the common factor and divide both numbers by it
Step 3: Rewrite out the ratio using these two new numbers.

Try it! A computer repair technician fixes 8 printers for every 2 computers she repairs. What is
the simplest form of this ratio? Write it in the three forms.

MathWorks 10 pg 16 #4, 5, 8 (write the ratio in three ways)

Proportion
• Proportion is a fractional statement of equality between two ratios or rates.
• The fractional equation = is referred to as a proportion
1DVD 10DVD
=
• $3.50 $35.00

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Example: Mark wants to mix a new hade of paint. He needs 3 parts blue to 1 part green.
a) How many parts are there altogether?

b) If mark mixes 10 portions of green paint how many portions of blue will he need?

Try it! If mark mixes 5 portions of green paint how many portions of blue paint will he need

Rates
Rate: is a comparison between two numbers with different units. Since the units are different
in each term they must be used.
Here are some examples of rates
• The number of words you can type per minute.
• The number of hamburgers a concession stand sells in one day.
• The price of lumber per linear foot.
• The price of stone per kilogram.
A rate can be expressed using similar notation as ratio.

Example: A salmon in the fishmongers is on sale at $1.89 for 100grams.

Write this rate in three different ways.
𝑛𝑢𝑚𝑏𝑒𝑟
____: ____ _____/ ______ 𝑛𝑢𝑚𝑏𝑒𝑟

Example: If salmon cost $1.89 for 100g, how much will it cost to buy 250g of salmon?

MathWorks 10 pg 16 #3, pg 19-21 #12-17

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 1.2 Unit Price

Today’s lesson is all about getting the best deal. For example, imagine you are at the grocery
store buying hotdogs. One package contains 20 hotdogs for $4.95 and the other contains 24
hotdogs for $5.85. Which would be the better deal is what we are going to learn today!

• Unit Price: is the cost of one unit, or a rate expressed as a fraction where the
denominator is 1.
• Unit Rate: is the rate or cost for one item or unit.
• Comparing unit prices can save you money; however it’s not the only factor to consider
when buying in bulk. You may prefer to consider quality over quantity.

Example 1: If a carton of one dozen eggs costs $3.29, how much are you paying for 1 egg?

In other words: $0.27 per egg

Try it! Rosa buys supplies for her office in Langley where she works as a clerk. She wants to buy
pens. The supplier sells a box of 12 pens for $6.25. Calculate the unit price of 1 pens.

MathWorks 10 Page 27 Questions 1-3

Example 2: Claire picks fresh strawberries at the farm. If she fills a pint basket (0.5506 Litres) it
will cost her $1.50. If she fills a 4 Litre pail it will cost her $9.00. Which size of container will give
her a better buy?
Steps: Find the unit price of both items and then compare. Whichever is lower is the better deal.

Pint basket unit price:

5
4 litre pail unit price:

Try it! A 48-oz can of tomatoes costs $2.99. An 18-oz can costs $1.19. Which is a better buy?

MathWorks 10 Page 29 Questions 4-5, pg 31. #7, 9

1.3 Setting a Price

Today’s ‘I can’ statement from Outcome 1:
I can compare, using examples, different sales promotion techniques; e.g., deli meat at $2
per 100 g seems less expensive than $20 per kilogram.

Converting Decimal into Percent and Converting Percent into Decimal

Example: Write each as a decimal. Round to the thousandths place.
a) 80% b) 5% c) 0.32 d) 0.5 e) 0.003

Covert Fraction into decimal into a percent

Example:
Fraction Decimal Percent %
2
10
2
5

Try it!
Fraction Decimal Percent %
3
5
9
14
2
75

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Example: Covert percent into decimal into fraction
Percent% Decimal Fraction
20%

35%

Try it: Covert percent into decimal into fraction

Percent% Decimal Fraction
93%

20%

35%

MathWorks 10 page 37 question 1

Example: Calculate 20% of 45.

MathWorks 10 page 39 question 2

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Setting a Price
Wholesale price: The business owner buys the items to sell at a wholesale price.
Markup: is the difference between the amount a dealer sells a product for and the amount he
or she paid for it. It is added to the cost so that a profit can be made.

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Remember Taxes also need to be added to arrive at a final price.
• All Canadians pay 5% Federal Goods and Service tax (GST)
• Most provinces also charge Provincial Sales Tax (PST) which varies from province to
province. (eg. In British Columbia, their PST is 7%. So in total, residents pay 12% on
taxes. 5% + 7% = 12%. )

Example 1: Melanie owns a clothing store. Her standard markup is 80%. She bought a coat
from the wholesaler at $125.
a) What would her markup be?

b) How much would Melanie charge her customers for the coat?
*remember customer would pay wholesale price + markup*

Try it! Arlene purchases fabric at a wholesale price for her custom sewing business. She pays
$46.00 /m. She charges a markup of 20% on the fabric. What will Arlene charge her clients per
metre?

Mathworks Page 42-43 questions 4-7

Example 2: Quentin wants to buy a pair of steel-toed boots listed at $179.95. How much will
the boots cost is 5% GST and 6% PST are charged?

Try it! A furniture store in in Saskatoon is selling a bedroom suite for $1599.00. What will the
total cost be including taxes (5% GST 5%PST)?

Mathworks Page 45 #8 -13.

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 1.4 On Sale
Today’s ‘I can’ statement from Outcome 1:
I can determine the percent increase or decrease for a given original and new price.

When you go shopping, you often see something is on sale for a discounted price usually
represented by percentages eg. 20% or 50% off. This may be because:
• The clothes could be out of season or
• out of fashion.
• The store could have ordered more than they could sell.

A Promotion: is an activity that increases awareness of a product or attracts customers.

• Businesses may use other promotions to attract buyers:
o Coupons usually give you an amount off the retail price usually used to promote
a new product or line.
o In store card point systems allow customers to participate in rewards programs
and encourages them to remain loyal to their store.
o BOGO promotions include:
1. Buy one get one free
2. Buy two get one half price

Calculating Amount Saved

Example 1: Samantha wants to buy a new TV. The model she likes costs $675.95, but the clerk
tells her that it is going on sale next week at 20% off. If Samantha waits one week, how much
will she save on the price of the TV.

Try it! A gift shop is selling off summer inventory. What will be the cost of a carving that was
priced at $149.95 if the sale sign says “Reduced by 60%.”

Mathworks pg 50 #1, 2 pg 52 #4

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Calculating Discount Rate

Example: An iPhone is originally $1400, but you paid $850. What is the discount rate?

Example: Lisa specializes in selling products from the Philippines, including rattan, bamboo, and
palm baskets. Medium-sized bamboo baskets are regularly priced at $19.98. They are on sale,
advertised as “Buy one, get the second at half price.” What is the discount rate as a percent?

Try it! Fred advertises T-Shirts as “Buy 4 get 1 free”. If the cost of 1 T-Shirt is $15.97, what is
the discount rate, as a percent?

MathWorks 10 pg 54 #7, 9, 10

1.5 Currency Exchange Rates

Today we are going to learn to convert between different country’s money (currency). In order
to do so we have to consider the exchange rates.

Currency: is the system of money a country uses.

• Currency is exchanged in:

o Banks
o Currency exchange companies
o Travel agencies

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Exchange rates: the price of one country’s currency in terms of another country’s currency.

• The exchange rate fluctuates from day to day and from one currency exchange agency
to another.

Example: Lucas is a glazier who operates a window installation business. He regularly travels to
the United States to buy supplies. Before traveling, he converts $500.00 CAD into American
dollars for personal expenses. If one Canadian dollar is worth 0.94192 of an American dollar,
how many American dollars will Lucas receive in exchange for $500.00 CAD?

How much CAD would Lucas get if he were to exchange $74 USD to CAD?

Try it! Breanna purchased $250 CAD worth of parts from hungary for use in his garage. If the
exchange rate is one Canadian dollar to 180.0779 Hungarian forints (Ft), how many forints will
you receive for $250.00 CAD.

Mathworks Page 60 Questions 2-3

Example: One Thai dollar is worth 0.023541 of a Canadian dollar. How many Thai dollars would
a tourist in Thailand receive for $200.00 CAD?

Mathworks Pg 71-72 #6, 9, 10, 12

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