Understanding and Using Money
ASCENTIS
Vocational
This subtopic equips learners with essential money management skills, including recognising and combining coins to make amounts up to £1, adding prices in pence and pounds, and determining correct change. It underpins financial literacy for everyday transactions, fostering independence in handling cash and preparing for functional mathematics in real-life contexts.
10
Learning Outcomes
22
Assessment Guidance
23
Key Skills
11
Key Terms
29
Assessment Criteria
Assessment criteria
Ascentis Entry Level 2 Award in Mathematics (Stepping Stones to Functional Skills) - Understanding and Using Money
Ascentis Entry Level 2 Award in Mathematics (Stepping Stones to Functional Skills)
Ascentis Entry Level 2 Extended Award in Mathematics (Stepping Stones to Functional Skills)
Ascentis Entry Level 2 Certificate in Mathematics (Stepping Stones to Functional Skills)
Ascentis Entry Level Extended Award in Mathematical Skills (Entry 2)
Ascentis Entry Level Certificate in Mathematical Skills (Entry 2)
Quick Revision Summary (Key Takeaway)
The Ascentis Entry Level Extended Award in Mathematical Skills (Entry 2) covers fundamental numeracy skills including counting, place value, basic addition and subtraction, simple multiplication and division, money, time, and shape recognition. This qualification builds confidence in everyday maths, preparing learners for Entry 3 and functional skills qualifications.
Topic Overview
The Ascentis Entry Level Extended Award in Mathematical Skills (Entry 2) is designed for learners who are building foundational numeracy skills. It covers key areas such as counting and understanding numbers up to 100, simple addition and subtraction, basic multiplication and division, and practical applications like money and time. This qualification is part of the Foundations for Learning pathway, helping students develop essential maths skills for everyday life and further study.
Mastering these skills is crucial because they form the basis for more advanced mathematical concepts. For example, understanding place value is essential for performing calculations accurately, while money and time problems are encountered daily. This course also prepares students for Entry 3 qualifications, where they will tackle more complex problems involving fractions, decimals, and measurement.
The assessment for this qualification typically involves practical tasks and written questions that test your ability to apply maths in real-world contexts. By the end of the course, you should be confident in handling numbers, solving simple problems, and explaining your reasoning. This foundation will not only help you in exams but also in everyday situations like shopping, cooking, and managing your time.
Key Concepts
Core ideas you must understand for this topic
- →Place value: understanding tens and units in numbers up to 100.
- →Addition and subtraction: using column methods and mental strategies for numbers up to 100.
- →Multiplication and division: simple times tables (2, 5, 10) and sharing equally.
- →Money: recognising coins and notes, calculating totals and change.
- →Time: reading clocks (analogue and digital) to the nearest 5 minutes and calculating durations.
Learning Objectives
What you need to know and understand
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Construct amounts up to £1 using various coin combinations (1p, 2p, 5p, 10p, 20p, 50p).
- Compute the total cost of multiple items priced in pence.
- Determine the change due from a purchase when amounts are in pence.
- Calculate the total cost of multiple items priced in whole pounds.
- Work out the change from a transaction in whole pounds.
Assessment Criteria
Key criteria assessors look for in your portfolio
- Award credit for correctly identifying and selecting coin combinations to total a given amount up to £1, using at least two different combinations.
- Award credit for accurately adding the prices of two or more items when costs are given in pence, showing clear working or correct total.
- Award credit for determining the correct change from a given amount when paying in pence, demonstrating subtraction or counting on.
- Award credit for adding prices in whole pounds (e.g., £2 and £3) without error.
- Award credit for computing change from a transaction in whole pounds, such as from £5 for items totaling £3.
- Award credit for correctly combining at least two different coin denominations to make a specified amount up to £1 (e.g., 30p using 20p and 10p).
- Award credit for accurately calculating the total cost of two or more items priced in pence, with clear evidence of addition strategy (mental, written, or concrete).
- Award credit for correctly determining the change from a given amount in pence, showing the ability to count up from the price to the amount tendered.
- Award credit for accurately adding whole pound amounts for multiple items and for calculating change from a whole pound transaction, demonstrating understanding of the relationship between pounds and pence.
- Award credit for correctly making a given amount (e.g., 67p) using at least two different combinations of coins.
- Expect accurate addition of prices in pence when calculating the cost of two or more items, with workings clearly shown.
- Require correct subtraction to find change from a given amount in pence, with evidence of a formal or informal written method.
- Assess ability to calculate the cost of multiple items in whole pounds and determine change from a whole-pound note (£5, £10, £20).
- Check for correct use of the £ and p symbols and consistent recording of monetary values in the appropriate format.
- Award credit for accurately counting a given set of coins to make a total up to £1, using at least two different combinations for the same amount.
- Award credit for correctly adding the prices of two or more items in pence, showing understanding of place value (e.g., distinguishing pence from pounds).
- Award credit for correctly calculating change from a given amount in pence, using subtraction or counting on, and recording the answer in pence.
- Award credit for accurately adding costs of multiple items priced in whole pounds, without errors in place value.
- Award credit for calculating change from a whole pound amount, demonstrating a systematic approach (e.g., £5 note minus total cost).
- Make amounts up to £1 using different coin combinations.
- Calculate the total cost of more than one item in pence.
- Calculate change from a transaction in pence.
- Calculate total cost in whole pounds.
- Calculate change in whole pounds.
- Award credit for correctly selecting coin combinations that sum to the target amount, even if unconventional.
- Accept evidence of accurate addition of two or more item prices in pence, including carrying over.
- Credit given for demonstrating a clear subtraction method to find change from a given amount.
- Look for appropriate use of 'p' or '£' notation to distinguish between pence and pounds.
- Expect answers to be presented with correct units and in the simplest form where required.
Assessment Guidance
Guidance for achieving higher grades
- 💡Use real coins or visual aids to practice making amounts before attempting written tasks.
- 💡Check addition by adding in a different order, or use subtraction as a reverse check for change calculations.
- 💡Always label answers with 'p' or '£' to avoid unit errors.
- 💡For change, think about how much more is needed to reach the amount paid, rather than just subtracting.
- 💡Always check your coin combinations by counting aloud and verify the total against the target amount before finalizing.
- 💡When adding costs, use a ‘count on’ strategy or number line to avoid place value errors; cross-check with a calculator if permitted.
- 💡For change, practice the ‘shopkeeper method’: count up from the price to the amount paid, saying each coin as you add it.
- 💡In whole-pound calculations, remember 100p = £1; if change is more than 99p, convert excess pence into pounds to simplify.
- 💡Always show all steps when adding prices or calculating change; examiners can award partial marks even if the final answer is incorrect.
- 💡Double-check that the coins selected add up exactly to the target amount; recount before writing the final answer.
- 💡For change calculations, use a subtraction method you are comfortable with, such as counting on from the total cost to the amount paid.
- 💡When writing answers in pounds, remember to include the zero in the pence column if needed, e.g., £2.05, not £2.5.
- 💡For assessments involving coin combinations, physically handling or drawing coins can reduce errors; ensure learners can justify their choice by showing working.
- 💡In multiple-item addition, encourage the use of place value columns to separate pounds and pence, even when all values are in pence or pounds.
- 💡When calculating change, always check the answer by adding the change to the cost to see if it equals the amount tendered.
- 💡Practise with real coins and notes.
- 💡Use mental maths strategies.
- 💡Check your calculations by adding the change to the cost.
- 💡Always read whether prices are in pence or pounds before starting calculations.
- 💡Use real or drawn coins to physically model the combinations when making amounts.
- 💡Check your change by adding it to the total cost to see if it equals the amount given.
- 💡In assessments, show all working steps clearly to gain partial marks even if final answer is wrong.
- 💡Always show your working out. Even if your final answer is wrong, you can gain marks for correct methods.
- 💡Read each question carefully to identify the operation needed. Look for keywords like 'total' (add), 'difference' (subtract), 'each' (multiply or divide).
- 💡Practise mental maths regularly, as many questions in the exam are designed to be done without a calculator.
Common Mistakes
Common errors to avoid in your coursework
- Confusing 1p and 2p coins when counting, leading to under- or over-counting.
- Forgetting to carry over tens when adding pence, e.g., treating 20p + 30p as 50p correctly but then misaligning with pounds.
- Subtracting the cost from the amount paid but misaligning pounds and pence, e.g., £1 - 30p = 70p incorrectly.
- Assuming that change must be given in the smallest coins rather than focusing on the difference.
- Confusing similar coins (e.g., using 2p instead of 1p, or miscounting 5p as 10p).
- When making amounts, using the same coin repeatedly without exploring varied combinations or efficient groupings.
- Misaligning place values when adding pence amounts, especially when totals exceed 100p but are not converted to pounds.
- Calculating change by subtracting from the price rather than the amount given, leading to incorrect amounts or giving too much change.
- Confusing the value of coins when counting mixed denominations, e.g., treating a 5p as 1p or a 20p as 10p.
- Adding amounts incorrectly, especially when bridging across tens (e.g., 35p + 28p).
- Forgetting to convert all values to the same unit before adding, such as mixing pence and pounds without changing format.
- Miscalculating change by subtracting the total cost from the amount given in the wrong order.
- Recording answers with incorrect notation, such as writing 0.5p instead of 5p or £3.5 instead of £3.50.
- Confusing pence and pounds when adding amounts, e.g., adding £2 and 50p as 52 rather than £2.50.
- Miscounting coins when making amounts, particularly with 20p and 50p combinations, due to coin size or value confusion.
- In change calculations, subtracting the purchase cost from the amount given but misaligning place values, leading to errors like £10 - £7 = £30.
- Miscounting coins or notes.
- Forgetting to include all items in the total.
- Incorrect subtraction when giving change.
- Miscounting coin values, particularly when dealing with 20p and 50p coins.
- Adding pence and pounds incorrectly by treating them as the same unit without conversion.
- Subtracting the purchase price from the amount tendered incorrectly, leading to wrong change.
- Forgetting to include all items when calculating total cost.
- Misconception: Adding numbers like 27 and 35 by simply adding the digits without carrying. Correction: Always add the units first and carry over if the sum is 10 or more.
- Misconception: Thinking that 0.5 is the same as 5p. Correction: 0.5 pounds is 50p, not 5p. Remember 1 pound = 100 pence.
- Misconception: Confusing the hour hand and minute hand on an analogue clock. Correction: The short hand is the hour, the long hand is the minutes. When the minute hand points to 6, it is half past the hour.
Revision Plan
How to revise this topic in 1–2 weeks
- 1Week 1: Focus on number and place value. Practise writing numbers in words and digits, and ordering numbers up to 100.
- 2Week 2: Move on to addition and subtraction. Use physical objects like counters to visualise problems, then practise column methods.
- 3Week 3: Introduce multiplication and division using times tables for 2, 5, and 10. Use grouping and sharing activities.
- 4Week 4: Apply skills to money and time. Role-play shopping scenarios and practise reading clocks.
- 5Week 5: Review all topics with past papers and timed practice. Identify weak areas and revisit them.
Exam Question Types
How this topic typically appears in the exam
- 📋Multiple-choice questions: These test basic facts like 'What is 7 + 8?' or 'Which coin is worth 50p?' Read all options carefully and eliminate obvious wrong answers.
- 📋Fill-in-the-blank: You may be given a calculation like 34 + 56 = ___ and need to write the answer. Show your working in the space provided.
- 📋Word problems: These describe a real-life situation, such as buying items or measuring time. Underline the key numbers and decide which operation to use.
- 📋Practical tasks: You might be asked to use a clock or money to demonstrate understanding. Practise with real objects at home.
Command Word Expectations (ASCENTIS)
What examiners look for when using specific command words in this specification
Calculate
You must perform the mathematical operation and give the numerical answer. Show your working to gain full marks.
Write down
Simply state the answer without explanation. For example, 'Write down the number of sides on a triangle' expects '3'.
Explain
You need to give a reason or justification for your answer. For example, 'Explain why 0.5 is the same as 50p' requires a clear link between decimals and pence.
How Students Lose Marks (Examiner Pitfalls)
Common mark loss traps and how to write 100% full-mark answers
Pitfall: Students often confuse the order of operations when adding and subtracting numbers with different place values, leading to incorrect answers.
❌ Weak Answer (Loses Marks):I added 23 and 45 by adding 2+4 and 3+5, but I got 68 instead of 68? Actually I wrote 68 but I didn't carry over when adding 27+35, so I wrote 512 instead of 62.
✅ 100% Model Answer (Full Marks):When adding 27 and 35, align the tens and units: 7+5=12, write 2 in the units column and carry 1 to the tens column. Then 2+3+1=6, so the answer is 62.
Examiner Tip: Always line up numbers by their place value columns (units under units, tens under tens) and remember to carry when the sum in a column is 10 or more.
Pitfall: In money problems, students forget to convert pence to pounds or misplace the decimal point.
❌ Weak Answer (Loses Marks):If I buy a pencil for 45p and a rubber for 30p, the total is 75p, but I write it as £0.75? Actually I wrote £75.
✅ 100% Model Answer (Full Marks):45p + 30p = 75p. Since 100p = £1, 75p is £0.75. Always write money with two decimal places when using pounds.
Examiner Tip: When adding money, keep all amounts in pence first, then convert to pounds at the end. Check that your answer has the correct decimal point.
Step-by-Step Worked Solutions
Detailed solution breakdown for typical exam problems
Question: A shop sells apples for 20p each. If you buy 4 apples, how much do you pay in pounds?
- 1.Step 1: Identify the cost of one apple: 20p.
- 2.Step 2: Multiply the cost by the number of apples: 20p × 4 = 80p.
- 3.Step 3: Convert pence to pounds: 80p = £0.80.
Final Answer: You pay £0.80 for 4 apples.
Question: A bus leaves at 2:30 PM and arrives at 3:15 PM. How many minutes is the journey?
- 1.Step 1: Identify the start time: 2:30 PM.
- 2.Step 2: Identify the end time: 3:15 PM.
- 3.Step 3: Calculate the difference: from 2:30 to 3:00 is 30 minutes, plus 15 more minutes = 45 minutes.
Final Answer: The journey takes 45 minutes.
Active Recall Memory Test
Test your memory before revealing the key facts
Frequently Asked Questions
Common questions students ask about this topic
Pass / Merit / Distinction Evidence Checklist
How your portfolio evidence is graded for ASCENTIS Understanding and Using Money
Every vocational unit is marked against named criteria rather than an exam percentage. Your tutor's brief lists the exact codes for this unit — here is what each band is asking you to do.
Pass (P)
Demonstrate baseline knowledge, accurate terminology, and core practical application.
Merit (M)
Provide detailed analysis, structured explanations, and clear workplace reasoning.
Distinction (D)
Deliver thorough evaluation, original problem solving, and fully justified recommendations.
Before You Start
Prior knowledge that will help with this topic
- •Basic counting to at least 20.
- •Recognition of numbers 0-9.
- •Simple addition and subtraction within 10.
Coursework AI Review
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Key Terminology
Essential terms to know
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Be able to make up amounts of money up to £1 in different ways using 1p, 2p, 5p, 10p, 20p and 50p coins, Be able to calculate the cost of more than one item in pence, Be able to calculate the change from a transaction in pence, Be able to calculate the cost of more than one item in whole pounds, Be able to calculate the change from a transaction in whole pounds
- Coin recognition and values
- Making amounts with different coin combinations
- Addition of amounts in pence
- Calculating change from pence transactions
- Addition of amounts in whole pounds
- Calculating change from pound transactions
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