Price lists

Learning Objectives Identify and extract information from a simple price list. Calculate the total cost of multiple identical items using multiplication. Calculate the total cost of different items by adding their individual prices. Determine the correct change received after a purchase. Compare prices of items from different price lists to find the best deal. Solve multi-step word problems involving price lists and money. Have you ever gone shopping with your family and wondered how stores decide how much to charge for each item? 🛒 In this lesson, you'll learn all about price lists, which are super important tools for stores and shoppers alike. Understanding price lists will help you make smart choices when buying things and manage your money effectively. Real-World...

TermDefinitionExample Price ListA list that shows the names of items and how much each item costs.A menu at a restaurant is a type of price list, showing food items and their prices. ItemA single product or service that is available for sale.In a price list for school supplies, a 'pencil' or an 'eraser' would be an item. Unit PriceThe cost of one single item.If a price list says 'Notebook: $2.50', then $2.50 is the unit price of one notebook. QuantityThe number of items you want to buy.If you want to buy 3 notebooks, the quantity is 3. Total CostThe total amount of money needed to buy all the items you want.If one apple costs $0.75 and you buy 2, the total cost is $1.50. ChangeThe money you get back after paying for items with more money than the total cost.I...

Calculating Total Cost for Identical Items $$ \text{Total Cost} = \text{Unit Price} \times \text{Quantity} $$ Use this rule when you want to buy more than one of the exact same item. Multiply the cost of one item by how many you want to buy. Calculating Total Cost for Different Items $$ \text{Total Cost} = \text{Cost of Item 1} + \text{Cost of Item 2} + \dots $$ Use this rule when you are buying several different items. Add up the individual prices of each item to find the total. Calculating Change Received $$ \text{Change} = \text{Amount Paid} - \text{Total Cost} $$ Use this rule to find out how much money you should get back after paying for your items. Subtract the total cost from the amount of money you gave to the cashier.