IndianTechnoEra: Simple Money Problems

Simple Money Problems

Money problems help us use what we have learned about coins, notes, prices, buying and selling.

We can use addition to find the total cost of items and subtraction to find how much money is left or how much change we receive.

Learning Objectives

• Add simple prices to find a total cost.
• Subtract a price from the money available.
• Find simple change.
• Solve everyday money situations.

Finding the Total Cost

When buying more than one item, add their prices to find the total.

Pencil = ₹5
Eraser = ₹3

₹5 + ₹3 = ₹8

The total cost is ₹8.

Finding Money Left

We can subtract the cost of an item from the money we have to find how much money remains.

Money = ₹10
Cost = ₹4

₹10 − ₹4 = ₹6

₹6 is left after paying ₹4.

Finding Change

Change is the difference between the money paid and the price of the item.

Paid = ₹10
Price = ₹7

₹10 − ₹7 = ₹3

The change is ₹3.

Solving a Simple Money Problem

Riya has ₹10. She buys a pencil for ₹5. How much money does she have left?

₹10 − ₹5 = ₹5

Riya has ₹5 left.

Buying Two Items

Aman buys a pencil for ₹5 and an eraser for ₹3. How much does he spend altogether?

₹5 + ₹3 = ₹8

Aman spends ₹8 altogether.

How to Solve Money Problems

1. Read the problem carefully.
2. Find the amounts of money given in the problem.
3. Decide whether you need addition or subtraction.
4. Calculate the answer.
5. Check whether the answer makes sense.

Common Mistakes

• Do not add when the problem asks how much money is left.
• Do not subtract when the problem asks for the total cost.
• Read the price and money available carefully.
• Check the final answer with the original question.

Practice

1. A pencil costs ₹5 and an eraser costs ₹3. What is the total cost?

2. You have ₹10 and spend ₹4. How much is left?

3. A toy costs ₹7. You pay ₹10. How much change do you get?

4. A notebook costs ₹10 and a pencil costs ₹5. What is the total cost?

5. You have ₹20 and spend ₹8. How much money remains?

Try It Yourself

Create a simple shopping problem using two items. Give each item a price and calculate the total cost.

Item 1 + Item 2 → Total Cost

Quick Revision

• Add prices to find the total cost.
• Subtract the cost from the money available to find money left.
• Subtract the price from the amount paid to find change.
• Read the question carefully before choosing addition or subtraction.

What Comes Next?

You have completed Chapter 9 — Money. You can now recognise common money, compare amounts, use money in simple buying and selling situations and solve basic money problems.

You are now ready to continue to the next chapter and build on these mathematical ideas.