This is a level 2 number strand activity from the Figure It Out series.
A PDF of the student activity is included.
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round money prices
calculator
“Swedish rounding” involves rounding to the nearest 5 cents. Most supermarkets use this method on the total bill. So a bill of $1.98 is rounded to $2.00, and a bill of $1.97 is rounded to $1.95.
Rounding in New Zealand is now necessary following the abolition of 1 and 2 cent coins. This means that an amount such as $3.28 cannot be made exactly with coins.
This activity shows how the price of a single purchase is rounded up or down. Other rounding options exist when numerous items are bought. These are:
As an extension to question 1, explore a number of rounding scenarios.
The following methods could be used for Veronica’s shopping:
If the Reserve Bank removed 5 cent coins from circulation, as suggested in question 2, the effects of rounding schemes would be accentuated because each total would be rounded to the nearest 10 cents.
Activity One
1. $2.75
2. There are no 1c or 2c coins used in New Zealand anymore.
Note: It is possible to pay this amount by cheque, EFTPOS, or credit card.
Activity Two
Cheapfood rounded down to the 5c below the amount.
Bag ’n’ Save rounded up to the 5c above the amount.
Some supermarkets round up or down depending on how close the amount is to the nearest 5c. For example:
$2.76 and $2.77 would be rounded down to $2.75.
$2.78 and $2.79 would be rounded up to $2.80.
Activity Three
1. Cheapfood: $26.65
Bag ’n’ Save: $26.70
2. Prices would have to be rounded either up or down to the nearest 10c.
Printed from https://nzmaths.co.nz/resource/shopping-around at 1:44pm on the 10th May 2024