3.4 Component 4: money
This content aims to develop the student’s understanding and use of money.
Students will learn through practical activities about the value of coins in everyday use in the UK. They will convert units of money and use a calculator to do simple calculations of money using decimals.
Procedures for making and recording assessments
Class work assessed by the teacher in response to the outcomes in the table, or assessed by an externally set assignment.
Outcomes to be accredited
In successfully completing this component, students will have demonstrated the ability to:
Entry 1
Outcomes 
Notes/examples 
GCSE reference 

1.1 Recognise coins and notes up to £20 
1p, 2p, 5p, 10p, 20p, 50p, £1, £2, £5, £10, £20 How much is this coin worth? 
N13, G14 
1.2 Exchange money up to 20p for an equivalent amount in other denominations 
Show two different ways of making 9p 
N13, G14 
1.3 Add up to 20 coins 
Up to 20p in 1p, 2p, 5p, 10p, 20p coins, up to £20 in £1 and £2 coins Jack has these coins, How much does he have? 
N2, N13, G14 
Entry 2
Outcomes 
Notes/examples 
GCSE reference 

2.1 Appreciate the purchasing power of amounts of money (coins) 
If I had a £2 coin, would I have enough to buy a can of pop? If I had a £2 coin, would I have enough to buy a computer? 
N13, G14 
2.2 Convert from pence to pounds and vice versa 
How many pence is £4.30? Write 715 pence in pounds 
N13, R1, G14 
2.3 Make amounts of money up to £2 from given coins 
How can you make £1.65 using only 50p, 20p and 5p coins? 
N2, N13, G14 
2.4 Make amounts of money in multiples of £5 from £5, £10 and £20 notes 
How can you make £55 using only £20 and £5 notes? 
N2, N13, G14 
2.5 Calculate with amounts of money in pence up to £1 and whole pounds up to £100 and give change 
Hayley buys three chocolate bars for 30p each. How much change should she get from a £1 coin? 
N2, N13, G14 
Entry 3
Outcomes 
Notes/examples 
GCSE reference 

3.1 Appreciate the purchasing power of amounts of money (notes) 
If I had a £10 note, would I have enough to buy a bottle of shampoo? If I had a £10 note, would I have enough to buy a motorbike? 
N13, G14 
3.2 Exchange notes for an equivalent value in coins 
Show how can you make £5 using only silver coins 
N13, R1, G14 
3.3 Use decimal notation for money 
Understand that £3.20 should not be written as £3.2 or £3.20p 
N13, G14 
3.4 Interpret a calculator display 
Understand that 3.2 (in pounds) on a calculator means £3.20 
N13, G14 
3.5 Solve real life problems involving what to buy and how to pay 
Lucy is saving £4.50 each week to buy a mobile phone for £90. How many weeks will she have to save? 

3.6 Add amounts of money and give change 
Adam buys three computer games for £29.99 each and two for £14.99 each. How much does he spend altogether? 
N2, N13, R7, G14 
3.7 Carry out investigations involving money 