Ontario Grade 11 MEL3E Mathematics for Work and Everyday Life (Grade 11, Workplace Preparation)
Chapters: 3
1. A. Earning and Purchasing
1 Earning · 2 Describing Purchasing Power · 3 Purchasing
- Consumer Mathematics: Earning, Buying and Travelling – Consumer mathematics is everyday money maths. Gross pay is all you earn: hourly wage (hours × rate), salary, commission (a % of sales), piecework, tips, bonus and overtime (often 1.5 × rate). Deductions such as income tax, pension and insurance are taken off, leaving net pay (take-home pay). When buying, take the discount first, then add sales tax (GST or VAT): price × (1 − d) × (1 + t). Unit price = price ÷ quantity, so you can compare packs. Count up to give correct change. A car costs fuel (distance × litres per 100 km ÷ 100 × price), insurance (higher for new drivers), licence, loan, repairs and parking; compare it with bus, train or plane for each trip.
2. B. Saving, Investing, and Borrowing
1 Comparing Financial Services · 2 Saving and Investing · 3 Borrowing
- Smart Ways to Manage Your Finances – Inflation makes prices rise, so the same money buys less. Money kept in a bank earns interest: simple interest is paid only on the original amount, while compound interest also earns interest on earlier interest, so it grows faster over time. A budget plans income into needs, wants and savings. Savings are kept safe; investments can grow but carry risk, and higher possible returns mean higher risk. Insurance shares risk among many people. Income tax is paid on income above a limit, at rates that rise with income.
3. C. Transportation and Travel
1 Owning and Operating a Vehicle · 2 Travelling by Automobile · 3 Comparing Modes of Transportation
- Consumer Mathematics: Earning, Buying and Travelling – Consumer mathematics is everyday money maths. Gross pay is all you earn: hourly wage (hours × rate), salary, commission (a % of sales), piecework, tips, bonus and overtime (often 1.5 × rate). Deductions such as income tax, pension and insurance are taken off, leaving net pay (take-home pay). When buying, take the discount first, then add sales tax (GST or VAT): price × (1 − d) × (1 + t). Unit price = price ÷ quantity, so you can compare packs. Count up to give correct change. A car costs fuel (distance × litres per 100 km ÷ 100 × price), insurance (higher for new drivers), licence, loan, repairs and parking; compare it with bus, train or plane for each trip.