Financing your project

Unfortunately money doesn't

grown on trees....

And no matter how many

extravagant ideas you

have...Things cost money!!!

Earlier in the project you researched how much you could

sell your project for... Or how much you could charge in rent ... Or how much income you would

get..This will help you to work out how

much you can spend on the project! Don't forget the whole idea is that you want to make

money!!

What maths could be involved in creating a bedroom?

Creating a Bedroom

Some common bedroom furniture. Can you estimate the cost? (Excluding VAT)

Bed Wardrobe

£699£899

Chest of Drawers

£229

Bedside Table

£85

Dressing Table

£254

WallpaperPer roll

£29

PaintPer

5litreTin

£31.99

CarpetPer m²

£28

Ignoring the cost of the flooring, walls

and labour, Can you work out an

estimate for the cost of the basic furniture?

Ignoring the cost of the flooring, walls

and labour, Can you work out an

estimate for the cost of the basic furniture?

Item Cost (£)

Bed 899

Wardrobe 699

Chest of Drawers 299

Bedside Table 85

Dressing Table 254

Subtotal

VAT (15%)

Grand Total

Item Cost (£)

Bed 899

Wardrobe 699

Chest of Drawers 299

Bedside Table 85

Dressing Table 254

Subtotal 2236

VAT (15%)

Grand Total

Item Cost (£)

Bed 899

Wardrobe 699

Chest of Drawers 299

Bedside Table 85

Dressing Table 254

Subtotal 2236

VAT (15%) 335.40

Grand Total

Item Cost (£)

Bed 899

Wardrobe 699

Chest of Drawers 99

Bedside Table 85

Dressing Table 254

Subtotal 2236

VAT (15%) 335.40

Grand Total 2571.40

Recap:Finding 15%

15% = 10% + 5%

To find 10% you ÷ 10When you know 10%, ÷ 2 to find

5%

Plan of the bedroomPlan of the bedroom

2.5m2

.5m

3m

3m

2.5m

5m5m

2.5

m

2m

1m2

m

1.5m

Floor

Door

Window

Can you work out the cost of the carpet?

Can you work out the cost of the carpet?

CarpetPer m²

(excluding VAR)

£28

2.5m

2.5

m

3m3

m

2.5m

5m

5m2.5

m

2m

1m2

m

1.5m

Floor

Door

Window

Area of floor Cost of Carpet Area of floor x cost per m² 15m² x £28

£420 Add VAT (15% of £420 =

£63) 5m x 3m = 15m² £483

Area of floor Cost of Carpet Area of floor x cost per m² 15m² x £28

£420 Add VAT (15% of £420 =

£63) 5m x 3m = 15m² £483

5m

3m

Can you work out the cost of the walls?

Can you work out the cost of the walls?

2.5m

2.5

m

3m

3m

2.5m

5m

5m

2.5

m

2m

1m

2m

1.5m

Paint

Paint

Paint

Wallpaper

WallpaperPer roll

£29

PaintPer 5litreTin

£31.99 To help you....

One roll of wallpaper covers 8m²5 litres of paint covers 10m²

The cost of the paint.The cost of the paint.3m

2.5

m

2.5

m

5m

2m

1m

2.5

m

3m2m

1.5

m

3m x 2.5m= 7.5m²

Full wall – door(5m x 2.5m) – (2m x 1m)

=10.5m²

Full wall – window(2.5m x 3m) – (1.5m x

2m)= 4.5m²Total wall area = 7.5m² + 10.5m² + 4.5m²= 22.5m²

If each tin covers 10m² then we need to divide the total area by 10.22.5 ÷ 10 = 2.25

Therefore you need to by 2 ¼ tins of paint.

To work out the costAmount of tins of paint needed x cost of a tin of paint

2 ¼ x £31.99= £71.98 (Nearest pence)

Add VAT (15% of £71.98 = £10.80)= £82.78

The cost of the wallpaper.The cost of the wallpaper.

5m

2.5

mArea of wall5m x 2.5m= 12.5m²

Amount of wallpaper = Area of wall divided by 8. = 12.5 ÷ 8 = 1.5625 rollsIf you can just buy the exact amount of wall paper then it would cost you 1.5625 rolls x £29 (cost per roll) = £45.31

But, normally you must buy full rolls, so you will need two rolls! 2 x £29 = £58 + VAT (15% of 58 = £8.70) = £66.70

The Total BillThe Total Bill

Total Bill for Bedroom(Including VAT)

Furniture £2571.40Carpet £483.00Paint £82.78Wallpaper £66.70

Total ............

Task1.Work out the total bill.2.The charges for putting

the furniture together, painting the walls and

fitting the carpets is 12% of the total cost. How much

will your final bill be?3.There are 6 bedrooms in

this house. Work out an estimate for the cost of all

the bedrooms.

The Total BillThe Total Bill

Total Bill for Bedroom(Including VAT)

Furniture £2571.40Carpet £483.00Paint £82.78Wallpaper £66.70

Total ............

Task1.Work out the total bill.

£3203.882. The charges for putting

the furniture together, painting the walls and

fitting the carpets is 12% of the total cost. How much

will your final bill be?£3588.35

3. There are 6 bedrooms in this house. Work out an

estimate for the cost of all the bedrooms.

£21530.10

Task• Each person in your group choose a room in your project

Each person must•Using the internet and catalogues choose what you want to go in your room. Make a picture board showing all the products and the cost.•Assume prices do not include VAT. Work out the total cost including VAT.•Work out the cost of flooring (Show all working)•Work out the costs of the walls (Show all working)• Work out the total cost•Work out cost of labour (use 12% of total cost)• How many of these rooms are in the building? Find an estimate for the total cost of all the rooms.

As a group• Bring all your costs for the rooms together on an excel spreadsheet.•Estimate the cost of the rooms you have not covered (e.g. Corridors) Put these in the table.• Work out the total cost of the interior design of the building.