Money Word Problems

Front

What is a money word problem?

Back

A money word problem is a mathematical problem that involves calculations related to money, such as addition, subtraction, multiplication, or division.

Front

How do you calculate the total cost of multiple items?

Back

To calculate the total cost, multiply the price of one item by the number of items.

Front

If an item costs $2.50, how much do 5 items cost?

Back

$12.50 (2.50 x 5 = 12.50)

Front

What is change in a money transaction?

Back

Change is the amount of money returned to a buyer after they pay for a purchase.

Front

If Mary spends $10.50 and pays with $20, how do you find her change?

Back

Subtract the amount spent from the amount paid: $20 - $10.50 = $9.50.

Front

How do you find the cost of one item if you know the total cost and the number of items?

Back

Divide the total cost by the number of items.

Front

If John buys 12 doughnuts for $30, how much does each doughnut cost?

Back

$2.50 (30 ÷ 12 = 2.50)

Front

What is the formula to calculate total spending?

Back

Total spending = Sum of all individual item costs.

Front

If Amy buys a hot dog for $1.50, chips for $0.75, and a soda for $2.20, how do you find her total spending?

Back

Add all the costs: $1.50 + $0.75 + $2.20 = $4.45.

Front

What does hourly wage mean?

Back

Hourly wage is the amount of money earned for each hour of work.