Money Math · Lesson Plan

Figuring Costs Using Fractions

A money-math lesson on using fractions to figure out costs. Students apply multiplying fractions to real-life situations — like an introductory class offered at a fraction of the regular price — to find what a discounted cost actually is.

Grades 5–8 Lesson Plan 30–45 minutes Free Lesson

$Figuring costs using fractions lesson illustration$

For Teachers

Lesson at a glance

Topic: Money Math
Grade Level: Grades 5–8
Resource Type: Lesson + Worksheet
Estimated Time: 30–45 minutes
Format: Reading + practice worksheet
Materials: Printable lesson, worksheet, calculators

What Students Learn

Learning objectives

Apply fractions to real-life situations involving costs
Review how to multiply fractions
Take a fraction of a given cost
Use these skills to solve word problems
Check that a fractional cost answer is reasonable

Materials

What you’ll need

Printed copies of the lesson and worksheet (one per student)
Calculators
Whiteboard or projector for worked examples

Key Terms

Vocabulary

Fraction: A number showing part of a whole, like 1/2 or 3/4.
Numerator: The top number of a fraction.
Denominator: The bottom number of a fraction.
Product: The result of multiplying.
Cost: The amount of money something takes to buy.
Discount: An amount taken off a regular price.

For Teachers

Lesson plan

Estimated time: one 30–45 minute class period.

Lesson sequence

Warm-up (5 min). Review multiplying a fraction by a whole number.
Read the method (10 min). Students read how a fraction of a cost works, using the example of an intro class offered at a fraction of the regular price.
Worked example (10 min). Work a problem together: find the cost when an item is offered at a fraction of its price.
Worksheet (12 min). Students practice on the worksheet; the answer key is included for teacher use.

Assessment

Assess the worked example and worksheet practice.

Discussion

Discussion questions

When in real life might you take a fraction of a cost?
How do you multiply a fraction by a whole-dollar amount?
Why might a teacher offer an intro class at a fraction of the price?
How can you check that your fractional-cost answer makes sense?
How is taking a fraction of a cost like finding a discount?

Printable Lesson & Worksheet