Money Boxes

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 Background By the end of Key Stage 2 children should be able to recognise all coins and notes. They should understand and use decimal notation for tenths and hundredths in context; for example be able to order amounts of money and round a sum of money to the nearest pound. In answering money problems they should choose, use and combine any of the four number operations and work on problems involving numbers in 'real life' contexts. The problems should involve one or more steps, and include converting pounds to foreign currency, or vice versa, and calculating percentages such as VAT. As part of the Year 6 outcomes, children should be able to decide whether to solve problems mentally or with pencil and paper or a calculator. They should also be able to explain their methods and reasoning. If children are using calculators, remember to remind them that calculators display amounts of money that are multiples of 10p differently from the way we write them e.g. £19.60 displays as 19.6.

 TOP Key Vocabulary By the end of Key Stage 2 children should be able to recognise and use the following vocabulary: money, coin, note, pence, penny, pound, £ dollar, euro, franc, lira... price, cost, change pay, buy, sell, sale dear, costs more, more expensive/ most expensive cheap, costs less, cheaper, less expensive/ least expensive value, amount, how much…? discount, cost price, selling price, profit, loss, interest, interest rate