Starter quiz
- A necklace originally priced at £50 is now priced at £52.50. What is the percentage increase in price?
- '5%' ✓
- A shop had 100 customers last week. This week, it had 82 customers. What is the percentage decrease in customers?
- '18%' ✓
- A stock price rose from £25 to £27.75. What is the percentage increase?
- '11%' ✓
- Jacob's test score increased from 72 to 84. What is the percentage increase in his score (to 1 d.p.)?
- '16.7%' ✓
- A house is valued at £4 000 000. It is sold for £1 428 057. What is the percentage decrease in value (to 1 d.p.)?
- '64.3%' ✓
- A pumpkin is being grown for a competition. One week it weighs 6 kg. By the competition, it weighs 962 kg. What is the percentage increase (to 1 d.p.)?
- '15 933.3%' ✓
Exit quiz
- ______ is the term used to describe rising prices.
- 'Inflation' ✓
- How quickly prices go up is called the ______ of inflation.
- 'rate' ✓
- The Government set the Bank of England an inflation target of 2%. If a car costs £20 500 now, what will it cost next year?
- '£20 910' ✓
- It is the year 2000 and Izzy has £2 to spend in her local shop. A 'Freddo' chocolate bar costs 10 pence. How many can she buy?
- '20' ✓
- It is the year 2020 and Izzy has £2 to spend in her local shop. A 'Freddo' chocolate bar costs 27 pence. How many can she buy?
- '7' ✓
- It is 2020 and a worker is paid £8.72/hour. If the rate of inflation is 2% each year, what should the worker be paid in 2024 (assuming their pay increase each year by the rate of inflation)?
- £8.89
- £9.07
- £9.44 ✓
- £9.63
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Worksheet
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Lesson Details
Key learning points
- Inflation affects the respective cost of various goods
- Rates of inflation vary for different goods
- Pay may not increase at the rate of inflation
Common misconception
When inflation comes down, prices will decrease.
A decrease in the inflation rate means that prices are now rising more slowly and does not mean that prices will decrease.
Keywords
Inflation - Inflation is the term used to describe rising prices. How quickly prices go up is called the rate of inflation.
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