Introduction
Hello Math Munks! In today's quest you will be a candy vendor at your school. So, you started selling candies a couple months back to members in your class just as a fun way to make some income. However, business started booming and so you attracted more schoolmates on the campus. Even though you started gaining a lot of traction and that is amazing for your business, you realized that instead of getting more candy at the shop you are getting lesser and lesser each time. You later deduced that your money gradually became lesser too. you started to question yourself, why am I ending up with less money after sales? I thought that I was doing well with my customers and all. With these unanswered questions you decided to go to your Mathematics teacher to sought out some answers so as to ensure your business is always booming!
Let's see what this adventure brings!
Task
The Math Munks need answers! As such their Math teacher Miss Mathopology evaluated the issue and decided she will start with the concept of profit and loss. At the end of this lesson, the munks should be able to effectively and efficiently define all the components of profit and loss, they should also be able to calculate profit and loss given its formula. In order to ensure efficiency and precision, the math munks will have to pay keen attention to the processes of finding profit and loss and know exactly when to use the formula for either one of them.
Process
Students will be asked to watch a youtube video where they will be introduced to the concepts profit and loss. This video will educate them on what profit and loss means, how to tell is they are making a profit or a loss before it's too late. Please see link:
After watching the video, the math munks will then have to link it to any real-world situation that they have encountered such as the candy business road block. Miss Mathamolgy will then ask guiding questions to sort of pave the understanding that she wants the munks to gain. These questions are: Name one instance in which you made less money on an item than what you had bought it for.
Name one instance where you made
Evaluation
It's time to test your knowledge!
Now that you have been exposed to the two concepts profit and loss, it it time for you to take a test.
Please click on the link below to test your knowledge on profit and loss.
https://quizizz.com/admin/quiz/5db9565b6590b9001ff81508
Conclusion
You have made it to the end of your quest. Ms Mathomology hopes that you learner something about profit and loss and is able to apply it to your candy business. Keep doing Math and remember, " Math is fun tri-angle it"!