Money Word Problems

Front

What is the total cost of multiple items when adding their individual prices together?

Back

To find the total cost, sum the prices of all items. For example, if an item costs $8.95 and another costs $4.95, the total cost is $8.95 + $4.95 = $13.90.

Front

How do you calculate the change received after a purchase?

Back

To calculate change, subtract the total cost of the items from the amount given to the cashier. For example, if a toy costs $5.45 and you give a $10 bill, the change is $10 - $5.45 = $4.55.

Front

What is the cost of buying multiple identical items?

Back

To find the total cost of multiple identical items, multiply the price of one item by the number of items purchased. For example, if each box of cookies costs $4.95 and you buy 2 boxes, the total cost is $4.95 x 2 = $9.90.

Front

How do you find the total expenditure on food items?

Back

Add the prices of all food items purchased. For example, if a hot dog costs $1.50, chips cost $0.75, and a soda costs $2.20, the total expenditure is $1.50 + $0.75 + $2.20 = $4.45.

Front

How do you determine the remaining balance after making purchases?

Back

To find the remaining balance, subtract the total amount spent from the initial amount of money. For example, if you start with $20.00 and spend $3.99 on socks and $5.50 on gloves, the remaining balance is $20.00 - ($3.99 + $5.50) = $10.51.

Front

What is a word problem in mathematics?

Back

A word problem is a mathematical question presented in a narrative form, requiring the reader to extract relevant information and perform calculations to find a solution.

Front

What is the importance of understanding money word problems?

Back

Understanding money word problems helps develop critical thinking and problem-solving skills, as well as practical financial literacy necessary for everyday transactions.

Front

What strategies can be used to solve money word problems?

Back

Strategies include identifying key information, translating words into mathematical operations, setting up equations, and checking the work for accuracy.

Front

What is the significance of rounding in money calculations?

Back

Rounding is significant in money calculations to simplify numbers for easier computation, especially when dealing with cents, ensuring accuracy in financial transactions.

Front

How do you convert dollars to cents?

Back

To convert dollars to cents, multiply the dollar amount by 100. For example, $5.00 is equal to 500 cents.