maths money problem solving

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Common Core - State Standards Initiative

Students will absolutely need to know how to handle money in their daily lives. Math Games is here to make sure that happens! Our free educational games motivate kids to hone and develop this skill by combining instructional tools with competitive fun.

Our games can be played on computers and mobile devices, and we offer other free resources (such as printable worksheets) to facilitate math review inside and outside the classroom. Pupils can use our tools to practice:

• Counting and understanding money values
• Adding and subtracting money
• Making change and interpreting price lists
• Calculating tips, markups, discounts and commission
• Understanding simple and compound interest

With Math Games, pupils complete tasks that are specially tailored to their individual abilities and grade level, and get to have a blast in the process! Choose a skill to start playing now.

Money Word Problems

First, we will look at a money word problem involving calculating Simple Interest. Simple Interest word problems are based on the formula for Simple Interest and the formula for Amount. Then, we will look at a money word problem that involves coins and dollar bills.

Simple Interest Word Problems

Formula for Simple Interest

i represents the interest earned. p represents the principal which is the number of dollars invested. r represents the interest rate per year. t represents the time the money is invested which is generally stated in years or fractions of a year.

Formula for Amount

A represents what your investment is worth if you consider the total amount of the original investment ( p ) and the interest earned ( i )

James needs interest income of $5,000. How much money must he invest for one year at 7%? (Give your answer to the nearest dollar)

5,000 = p (0.07)(1)

p = 71,428.57

Dollar and Coin Word Problems

Paul has $31.15 from paper route collections. He has 5 more nickels than quarters and 7 fewer dimes than quarters. How many of each coin does Paul have?

Let x be the number of quarters x + 5 be the number of nickels x – 7 be the number of dimes

25 x + 5( x + 5) + 10( x – 7) = 3,115 25 x + 5 x + 25 + 10 x – 70 = 3,115 40 x = 3,160 x = 79

Algebra Money Word Problems

Coin Word Problem

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Money Problems Maths

Here we will learn about money problems maths, including looking at a variety of money word problems and how to solve them.

There are also money problems maths worksheets based on Edexcel, AQA and OCR exam questions, along with further guidance on where to go next if you’re still stuck.

What are money problems?

Money problems are the name given to a range of problems which involve money. It may also be known as financial maths.

We will explore different types of money problems that can be used in lots of different situations. 

For the purposes of these examples we will use Pound Sterling.

£1 is made of 100 pence (or 100p ).

Pounds can be written as pence, for example £3.15 can be written as 315p.

Pence can be written as pounds, for example 27p can be written as £0.27.

UK coins are 1p, 2p, 5p, 10p, 20p, £1 and £2. 

The UK notes are £5, £10, £20 and £50.

How to work out money problems

In order to solve money problems in maths:

Read the question carefully and work out how to solve the word problem.

Calculate the solution.

Write the answer with the correct units.

Explain how to work out money problems

Money problem maths worksheet

Get your free money problem maths worksheet of 20+ questions and answers. Includes reasoning and applied questions.

Related lessons on arithmetic

Money problems maths is part of our series of lessons to support revision on arithmetic . You may find it helpful to start with the main arithmetic lesson for a summary of what to expect, or use the step by step guides below for further detail on individual topics. Other lessons in this series include:

• BIDMAS  
• Calculator skills

Money problem maths examples

Example 1: shopping.

A chocolate bar costs 45p and a bottle of lemonade costs £1.20.

Frankie buys 3 bars of chocolate and 2 bottles of lemonade.

She pays with a £5 note.

Work out how much change Frankie gets.

We need to find the total cost of 3 chocolate bars and 2 bottles of lemonade. Then subtract from £5 to find the change. But first we need to change 45p into £0.45.

2 Calculate the solution.

The total cost is,

Then we need to find the change,

5-3.75=1.25 .

3 Write the answer with the correct units.

Frankie’s change is £1.25.

Example 2: ratio

Ali and Ben share some money in the ratio of 4:7. If Ben receives £10.50 more than Ali, work out the amount of money Ali receives.

We have been given the difference in the amount of money Ali and Ben receive.

Looking at the ratio, the difference in parts is 3 parts, 

We can divide the difference by 3 and find the size of each part. Then we can work out how much money Ali gets.

One part is

10.50\div 3=3.50.

Ali gets four parts,

3.50\times 4=14.

Ali receives £14.

Note that Ben receives £24.50, so £10.50 more, and the total money shared was £38.50.

Example 3: fractions

A laptop costs £350. A sale offers \frac{1}{5} off the price. Calculate the sale price of the laptop.

We have to find one fifth of the cost, and subtract it.

First we find the fraction of the amount.

350\div 5 = 70.

So \frac{1}{5} of 350=70.

Then we subtract this from the original price,

350-70=280.

The new price of the laptop is £280.

Example 4: percentage increase

A railcard costs £430. The price is going up by 23\%. Calculate the new price of the railcard.

We need to find 23\% of the amount and add it on.

Therefore 23\% will be

(2\times 43)+(3\times 4.30)=86+12.90=98.90.

Because the question wants an increase, we add this to the original amount.

430+98.90=528.90

The final answer for the new price of the rail card is £528.90.

Alternatively you could use a multiplier,

430\times 1.23=528.90.

Example 5: best buy

Cereal can be bought in two different ways.

A small box contains 200g and costs 89p.

A large box contains 700g and costs £3.45.

Find which box is the best value for money.

There are several ways we can find out which cereal box gives the best value for money. We could work out grams per pence by dividing the mass by the price.

First we need to make sure both prices are in the same units. Let’s change the £3.45 into 345p.

Small box – grams per pence,

200\div 89=2.24719…

Large box – grams per pence,

700\div 345=2.02898…

2.24719… grams per pence is greater than 2.02898… grams per pence. This means that when you buy the small box, you get more cereal per penny you spend.

Therefore the small box is better value for money.

Example 6: exchange rates

Sofia went to Portugal. She changed £160 into euros (€).

The exchange rate was £1 = €1.17.

How many euros did Sofia receive?

We need to use the exchange rate and multiply the amount in pounds to get the amount in euros.

The solution is €187.20.

Common misconceptions

• Use two decimal places for pence

You might be asked to leave your answer in terms of pounds and pence. If your answer is 3.4, write it as £3.40, using two decimal places to represent the pence part.

• Subtracting from \bf{£5, \ £10} and so on

Finding the change from paying with notes can be tricky if you are not using a calculator because of the zeros involved. You may wish to use a number line instead and count on. For example, finding the change from £10 for a 3.72 shopping bill.

Practice money problems maths questions

1. A bottle of cola costs £1.35 and a bag of crisps costs 70p. Lamia buys 3 bottles of cola and 5 bags of crisps. She pays with a £10 note. Calculate the change Lamia gets.

70p written as pounds is £0.70. The total cost is

The change can be found by subtracting the total cost from 10,

The change is £2.45.

2. Sharon and Tania share a bill in the ratio of 5:3. If Tania pays £38 less than Sharon, what is the total amount of the bill?

The difference in the ratio parts is

The difference is £38, since this is equivalent to two parts it is divided by 2.

One part is £19.

The total number of parts is

Therefore the total amount of money for the bill is

3. A coat costs £60. A sale offers \frac{1}{4} off the price. Calculate the sale price of the coat.

We can find the fraction of the amount and then take it away from the original price.

The sale price of the coat is £45.

4. A football season ticket costs £970. The price is being reduced by 15\%. Find the new price of the football season ticket.

We can find 15\% of £970, and then, because the price is decreasing, we can subtract it from the original price.

Therefore 15\% is

The new price will be

5. A large box of washing powder costs £4.85 for 950g.

A small box costs 55p for 100g.

Work out which box gives better value for money.

Large box, as 1.958 grams per pence is better value than 1.818 grams per pence.

Large box, as 0.51 grams per pence is better value than 0.55 grams per pence.

Small box, as 1.818 grams per pence is better value than 1.958 grams per pence.

Small box, as 0.51 grams per pence is better value than 0.55 grams per pence.

There are different ways to work out the best value. One way is to calculate grams per pence and see which gives the highest value.

Large box grams per pence,

Small box grams per pence,

The large box gives a greater amount of grams per pence, so is better value.

6. Ranjeev goes to Australia. He changes £325 into Australian dollars (\$). The exchange rate is £1 = \$1.74. Exchange £325 into Australian dollars.

As we are converting pounds to dollars, we need to multiply by the exchange rate.

Money problems maths GCSE questions

1. 2 apples and 3 bananas cost £1.40.

5 apples cost 95p.

Work out the cost of 3 apples and 4 bananas.

Give your answer in pounds and pence.

2. Mike is going shopping for clothes for a new job. He has £150 to spend.

He buys 3 pairs of trousers for £29 each. He sees shirts cost £12 each.

Work out the maximum number of shirts Mike could buy.

  So 5 shirts is the most he can buy.

3. Jonathan went to America.

He exchanged £750 into American dollars (\$).

The exchange rate was £1 = \$1.23.

(a) Exchange £750 into American dollars. Give your answer to the nearest 10 dollars.

(b) Jonathan brings \$147 back home.

Exchange \$147 into UK pounds.

Give your answer correct to the nearest pence.

\$922.50 is \$920 to the nearest 10.

Learning checklist

You have now learned how to:

• Solve real world maths problems involving money
• Money problem solving with ratios, fractions and percentages
• Use exchange rates to convert currencies

The next lessons are

• Rounding numbers
• Factors, multiples and primes
• Negative numbers

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Money Worksheets

Welcome to the money worksheets page at Math-Drills.com where you will not be short-changed! This page includes Money worksheets for counting coins and for operations with Dollars, Euros, and Pounds.

Students encounter money early on, and they must be able to manage it themselves in their everyday lives and into adulthood. There are many activities that you can do related to counting, adding, and subtracting money, so save some coins or purchase some play money to complete some of the activities on the money math worksheets below.

The policies of the United States Mint and the European Central Bank allow us to use their coin images on our worksheets. The Canadian coin images are used with permission from the Royal Canadian Mint. Permission to use Australian currency coin designs was obtained from the Royal Australian Mint.

Most Popular Money Worksheets this Week

Counting Coins Worksheets

This is a great place to start with younger students as they are likely to encounter coins before they encounter too many bills. Including children in money transactions helps them to develop important money management skills and has benefits in other math topics such as fractions.

Until everyone starts paying with their smart phones and microchips in their fingers, coins are still a thing. The U.S. Mint still makes billions of coins every year and children will probably encounter them very early on in their life. Knowing how much money you have in coins can be accomplished with a coin counting machine, or it can be accomplished with some mental math.

• Counting U.S. Coins Counting U.S. Coins Counting U.S. Coins including Half and One Dollar Coins Counting Small Collections of U.S. Coins Counting Small Collections of U.S. Coins including Half and One Dollar Coins
• Counting Sorted U.S. Coins Counting Sorted U.S. Coins Counting Small Collections of Sorted U.S. Coins
• Counting Canadian Coins Counting Canadian Coins Counting Canadian Coins (No $) Counting Small Collections of Canadian Coins Counting Small Collections of Can. Coins (No $) Counting Canadian Coins Including 50 Cent Pieces
• Counting Sorted Canadian Coins Counting Sorted Canadian Coins Counting Sorted Canadian Coins (No $) Counting Small Collections of Sorted Canadian Coins Counting Small Collections of Sorted Canadian Coins (No $)

No one likes their coins better than the U.K. With pockets full of eight different coin values, reinforced stitching on trouser pockets and handbags is common place. Learning to count all of these coins is a feat in itself, but the worksheets in this category should help.

• Counting British Coins Counting British Coins Counting British Coins - No Pound Coins Counting Small Collections of British Coins Counting Small Collections of British Coins (No Pound Coins)
• Counting Australian Coins Counting Australian Coins Counting Australian Coins (No Dollars) Counting Small Collections of Australian Coins Counting Small Collections of Australian Coins (No Dollars)
• Counting Sorted Australian Coins Counting Sorted Australian Coins Counting Sorted Australian Coins (No Dollars) Counting Small Collections of Sorted Australian Coins Counting Small Collections of Sorted Australian Coins (No Dollars)
• Counting Euro Coins Counting Euro Coins Counting Euro Coins (No 1 or 2 Cents) Counting Euro Coins (No 1 or 2 Euro Coins) Counting Euro Coins (Only 5, 10, 20 and 50 Cent Coins) Counting Small Collections of Euro Coins Counting Small Collections of Euro Coins (No 1 or 2 Cents) Counting Small Collections of Euro Coins (No 1 or 2 Euro coins) Counting Small Collections of Euro Coins (Only 5, 10, 20 and 50 Cent Coins)
• Counting Sorted Euro Coins Counting Sorted Euro Coins Counting Sorted Euro Coins (No 1 or 2 Cents) Counting Sorted Euro Coins (No 1 or 2 Euro coins) Counting Small Collections of Sorted Euro Coins Counting Small Collections of Sorted Euro Coins (No 1 or 2 Cents) Counting Small Collections of Sorted Euro Coins (No 1 or 2 Euro coins)
• Counting New Zealand Coins Counting New Zealand Coins (No Dollars) Counting New Zealand Coins Counting Small Collections of New Zealand Coins (No Dollars) Counting Small Collections of New Zealand Coins

Rounding Money Amounts

The next dollar up is a skill for young students who are not yet able to make change, but can determine how many dollars it will take to cover an amount. For example, if something is $5.45 in a store, then they would need to give $6 to cover that amount since the next dollar up from $5.45 is $6. Students should understand that any amount above zero after the decimal means they need to add another dollar to the number before the decimal in order to have enough to pay for the item. The rest of the worksheets in this section are general rounding questions involving dollar amounts.

• Next Dollar Up (U.S. Version) Next Dollar Up (Amounts to $5 ) (U.S. Version) Next Dollar Up (Amounts to $10 ) (U.S. Version)
• Next Dollar Up (Canadian Version) Next Dollar Up (Amounts to $5 ) ( Canadian Version) Next Dollar Up (Amounts to $10 ) ( Canadian Version)
• Next Dollar Up (Australian Version) Next Dollar Up (Amounts to $5 ) ( Australian Version) Next Dollar Up (Amounts to $10 ) ( Australian Version)
• Next Pound Up (U.K. Version) Next Pound Up (Amounts to £5 ) Next Pound Up (Amounts to £10 )
• Rounding Dollar Amounts Rounding Dollar Amounts to the Nearest 5 Cents Rounding Dollar Amounts to the Nearest 10 Cents Rounding Dollar Amounts to the Nearest 20 Cents Rounding Dollar Amounts to the Nearest 25 Cents Rounding Dollar Amounts to the Nearest 50 Cents Rounding Dollar Amounts to the Nearest 1 Dollar Rounding Dollar Amounts to the Nearest 2 Dollars Rounding Dollar Amounts to the Nearest 5 Dollars
• Rounding British Pound Amounts Rounding British Pound Amounts to the Nearest 5 Pence Rounding British Pound Amounts to the Nearest 10 Pence Rounding British Pound Amounts to the Nearest 20 Pence Rounding British Pound Amounts to the Nearest 25 Pence Rounding British Pound Amounts to the Nearest 50 Pence Rounding British Pound Amounts to the Nearest 1 Pound Rounding British Pound Amounts to the Nearest 2 Pounds Rounding British Pound Amounts to the Nearest 5 Pounds
• Rounding Euro Amounts Rounding Euro Amounts to the Nearest 5 Cents Rounding Euro Amounts to the Nearest 10 Cents Rounding Euro Amounts to the Nearest 20 Cents Rounding Euro Amounts to the Nearest 25 Cents Rounding Euro Amounts to the Nearest 50 Cents Rounding Euro Amounts to the Nearest 1 Euro Rounding Euro Amounts to the Nearest 2 Euros Rounding Euro Amounts to the Nearest 5 Euros

Adding and Subtracting Money

Adding money amounts is a nice way to gently move students into thinking about decimals and what a great opportunity to use some manipulatives. Students generally perform better with math that has meaning. Decimal numbers to hundredths have most likely been in students' lives since very early on as stores display prices, parents comment about the prices to help develop critical thinking in their children, so if there is one decimal that students understand well, it is money. They sometimes have trouble relating it to paper and pencil which is why manipulatives come in handy. Play money is a little cheaper than real money and doesn't disappear quite as quickly.

• Adding Money Amounts with Increments Specifically for U.S. Canadian Currencies Adding With Amounts up to $10 Adding With Amounts up to $100 Adding in Increments of 50 Cents ($) Adding in Increments of 25 Cents ($) Adding in Increments of 10 Cents ($) Adding in Increments of 5 Cents ($)
• Adding Money Amounts with Increments Specifically for British Currency Adding With Amounts up to £10 Adding With Amounts up to £100 Adding Increments of 50 Pence (£) Adding Increments of 20 Pence (£) Adding Increments of 10 Pence (£) Adding Increments of 5 Pence (£) Adding Increments of 2 Pence (£)
• Adding Money Amounts with Increments Specifically for Australian and New Zealand Currencies Adding With Amounts up to $10 Adding With Amounts up to $100 Adding Increments of 50 Cents ($) Adding Increments of 20 Cents ($) Adding Increments of 10 Cents ($) Adding Increments of 5 Cents ($)
• Adding Money Amounts with Increments Specifically for Euro Currency Adding With Amounts up to €10 Adding With Amounts up to €100 Adding Increments of 50 Euro Cents Adding Increments of 20 Euro Cents Adding Increments of 10 Euro Cents Adding Increments of 5 Euro Cents Adding Increments of 2 Euro Cents

The strategy of choice for subtracting money is the counting up strategy. It works especially well for giving change from whole dollar/Pound/Euro amounts. Following is an example of how it works. Let's say the bill at the grocery store came out to $13.46 and the cashier was presented with a $20.00 bill and for some odd reason, the monitor on his cash machine had a crack in it that obscured the amount of change to give. What would he do?! The first thing to do is to take four cents out of the drawer because he needs to add the $13.46 to an unknown amount to make $20, and four cents will bring the $13.46 up to $13.50 which makes things rounder and, for most, a little easier. Next, he needs to pull out two quarters to bring the amount up to $14 even. He can then remove a dollar bill to make the amount $15, and finally pull out a $5 bill to count up to $20. Now, if he wanted to know how much change he gave, he just needs to think back to what he pulled out of the drawer: $5 + $1 + $0.50 + $0.04 = $6.54.

• Subtracting Money Amounts with Increments Specifically for U.S. and Canadian Currencies Subtracting With Amounts up to $10 Subtracting With Amounts up to $100 Subtracting in Increments of 50 Cents ($) Subtracting in Increments of 25 Cents ($) Subtracting in Increments of 10 Cents ($) Subtracting in Increments of 5 Cents ($)
• Subtracting Money Amounts with Increments Specifically for British Currency Subtracting With Amounts up to £10 Subtracting With Amounts up to £100 Subtracting Increments of 50 Pence (£) Subtracting Increments of 20 Pence (£) Subtracting Increments of 10 Pence (£) Subtracting Increments of 5 Pence (£) Subtracting Increments of 2 Pence (£)
• Subtracting Money Amounts with Increments Specifically for Australian and New Zealand Currencies Subtracting With Amounts up to $10 Subtracting With Amounts up to $100 Subtracting Increments of 50 Cents ($) Subtracting Increments of 20 Cents ($) Subtracting Increments of 10 Cents ($) Subtracting Increments of 5 Cents ($)
• Subtracting Money Amounts with Increments Specifically for Euro Currency Subtracting With Amounts up to 10 € Subtracting With Amounts up to 100 € Subtracting Increments of 50 Euro Cents (€) Subtracting Increments of 20 Euro Cents (€) Subtracting Increments of 10 Euro Cents (€) Subtracting Increments of 5 Euro Cents (€) Subtracting Increments of 2 Euro Cents (€)
• Adding and Subtracting Money Amounts with Increments Specifically for U.S. and Canadian Currencies Adding & Subtracting With Amounts up to $10 Adding & Subtracting With Amounts up to $100 Adding & Subtracting in Increments of 50 Cents ($) Adding & Subtracting in Increments of 25 Cents ($) Adding & Subtracting in Increments of 20 Cents ($) Adding & Subtracting in Increments of 10 Cents ($) Adding & Subtracting in Increments of 5 Cents ($)
• Adding and Subtracting Money Amounts with Increments Specifically for British Currency Adding & Subtracting With Amounts up to £10 Adding & Subtracting With Amounts up to £100 Adding & Subtracting Increments of 50 Pence (£) Adding & Subtracting Increments of 20 Pence (£) Adding & Subtracting Increments of 10 Pence (£) Adding & Subtracting Increments of 5 Pence (£) Adding & Subtracting Increments of 2 Pence (£)
• Adding and Subtracting Money Amounts with Increments Specifically for Australian and New Zealand Currencies Adding & Subtracting With Amounts up to $10 Adding & Subtracting With Amounts up to $100 Adding & Subtracting in Increments of 50 Cents ($) Adding & Subtracting in Increments of 20 Cents ($) Adding & Subtracting in Increments of 10 Cents ($) Adding & Subtracting in Increments of 5 Cents ($)
• Adding and Subtracting Money Amounts with Increments Specifically for European Currency Adding & Subtracting With Amounts up to 10 € Adding & Subtracting With Amounts up to 100 € Adding & Subtracting Increments of 50 Euro Cents (€) Adding & Subtracting Increments of 20 Euro Cents (€) Adding & Subtracting Increments of 10 Euro Cents (€) Adding & Subtracting Increments of 5 Euro Cents (€) Adding & Subtracting Increments of 2 Euro Cents (€)

Making change from bills and notes worksheets.

• Making Change from U.S. Bills Making Change from U.S. $1 Bills Making Change from U.S. $5 Bills Making Change from U.S. $10 Bills Making Change from U.S. $20 Bills Making Change from U.S. $50 Bills Making Change from U.S. $100 Bills
• Making Change from Mixed U.S. Bills Making Change from U.S. Bills up to $5 Making Change from U.S. Bills up to $10 Making Change from U.S. Bills up to $20 Making Change from U.S. Bills up to $50 Making Change from U.S. Bills up to $100
• Making Change from Canadian Bills Making Change from Canadian $5 Bills Making Change from Canadian $10 Bills Making Change from Canadian $20 Bills Making Change from Canadian $50 Bills Making Change from Canadian $100 Bills
• Making Change from Mixed Canadian Bills Making Change from Canadian Bills up to $10 Making Change from Canadian Bills up to $20 Making Change from Canadian Bills up to $50 Making Change from Canadian Bills up to $100
• Making Change from Euro Notes Making Change from Euro €5 Notes Making Change from Euro €10 Notes Making Change from Euro €20 Notes Making Change from Euro €50 Notes Making Change from Euro €100 Notes Making Change from Euro €200 Notes
• Making Change from Mixed Euro Notes Making Change from Euro Notes up to €10 Making Change from Euro Notes up to €20 Making Change from Euro Notes up to €50 Making Change from Euro Notes up to €100 Making Change from Euro Notes up to €200

Further worksheets will be released as soon as the Reserve Bank of New Zealand releases more banknotes from Series 7.

• Making Change from New Zealand Banknotes Making Change from New Zealand $5 Banknotes Making Change from New Zealand $10 Banknotes
• Making Change from Mixed New Zealand Banknotes Making Change from New Zealand Banknotes up to $10

The Bank of England sent us this response regarding our request for images: "Please note that the Bank of England does not provide images of notes." Therefore, we are unable to create making change math worksheets using Bank of England banknotes.

Multiplying and Dividing Money

It would be nice if our own money could multiply quite as nicely in our bank accounts as it does on these worksheets. Alas, we will have to settle with low interest rates multiplying our money over the span of decades. These multiplying money worksheets would go well with some money manipulatives. Simply make several piles of the same amount (the same number of piles as the multiplier), combine it all into one pile, regroup as much as possible (e.g. five ones into a five), and count up the results.

• Multiplying Dollar Amounts by 1-Digit Multipliers (U.S. and Canada Version) Multiplying Dollar Amounts in Increments of 1 Cent by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 25 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by One-Digit Multipliers
• Multiplying Dollar Amounts by 2-Digit Multipliers (U.S. and Canada Version) Multiplying Dollar Amounts in Increments of 1 Cent by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 25 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by Two-Digit Multipliers
• Multiplying Pound Sterling Amounts by 1-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 1 Penny by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 2 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 5 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 10 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 20 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 50 Pence by One-Digit Multipliers
• Multiplying Pound Sterling Amounts by 2-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 1 Penny by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 2 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 5 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 10 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 20 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 50 Pence by Two-Digit Multipliers
• Multiplying Dollar Amounts by 1-Digit Multipliers (Australia and New Zealand Version) Multiplying Dollar Amounts in Increments of 1 Cent by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 20 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by One-Digit Multipliers
• Multiplying Dollar Amounts by 2-Digit Multipliers (Australia and New Zealand Version) Multiplying Dollar Amounts in Increments of 1 Cent by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 20 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by Two-Digit Multipliers
• Multiplying Euro Amounts by 1-Digit Multipliers Multiplying Euro Amounts in Increments of 1 Cent by One-Digit Multipliers Multiplying Euro Amounts in Increments of 2 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 5 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 10 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 20 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 50 Cents by One-Digit Multipliers
• Multiplying Euro Amounts by 2-Digit Multipliers Multiplying Euro Amounts in Increments of 1 Cent by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 2 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 5 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 10 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 20 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 50 Cents by Two-Digit Multipliers

Dividing money amounts by whole numbers worksheets.

• Dividing Dollar Amounts by 1-Digit Multipliers (U.S. and Canada Version) Dividing Dollar Amounts in Increments of 1 Cent by One-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 25 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by One-Digit Divisors
• Dividing Dollar Amounts by 2-Digit Multipliers (U.S. and Canada Version) Dividing Dollar Amounts in Increments of 1 Cent by Two-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 25 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by Two-Digit Divisors
• Dividing Pound Sterling Amounts by 1-Digit Multipliers Dividing Pound Sterling Amounts in Increments of 1 Penny by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 2 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 5 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 10 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 20 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 50 Pence by One-Digit Divisors
• Dividing Pound Sterling Amounts by 2-Digit Multipliers Dividing Pound Sterling Amounts in Increments of 1 Penny by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 2 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 5 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 10 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 20 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 50 Pence by Two-Digit Divisors
• Dividing Dollar Amounts by 1-Digit Multipliers (Australia and New Zealand Version) Dividing Dollar Amounts in Increments of 1 Cent by One-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by One-Digit Divisors
• Dividing Dollar Amounts by 2-Digit Multipliers (Australia and New Zealand Version) Dividing Dollar Amounts in Increments of 1 Cent by Two-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by Two-Digit Divisors
• Dividing Euro Amounts by 1-Digit Multipliers Dividing Euro Amounts in Increments of 1 Cent by One-Digit Divisors Dividing Euro Amounts in Increments of 2 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 5 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 10 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 20 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 50 Cents by One-Digit Divisors
• Dividing Euro Amounts by 2-Digit Multipliers Dividing Euro Amounts in Increments of 1 Cent by Two-Digit Divisors Dividing Euro Amounts in Increments of 2 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 5 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 10 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 20 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 50 Cents by Two-Digit Divisors

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Calculation Money Problems

In these problems we are using the four operations (addition, subtraction, multiplication and division) in the context of money questions.

We need to work out which operation to use for each question.

Example 1: You buy 7 bananas for 23p each. Work out the total cost.

Here we have a multiplication question.

Each banana costs 23p and we have 7 bananas. We need to work out 7 × 23 We can use long multiplication.

We start with 7 × 3 7 × 3 = 21 The one goes in the ones column and the 2 is carried over to the tens.

Next is 7 × 2 7 × 2 = 14 We add on the 2 we carried over 14 + 2 = 16 The 6 goes in the tens and the 1 is carried over to the hundreds

The total cost is 161p We can convert pence to pounds and pence by dividing by 100 161p = £1.61

Example 2: You buy 8 oranges for 29p each. You pay with a £10 note. Work out how much change you should get.

Each orange costs 29p and we have 8 oranges. We need to work out 8 × 29

We start with 8 × 9 8 × 9 = 72 The 2 goes in the ones column and the 7 is carried over to the tens.

Next is 8 × 2 8 × 2 = 16 We add on the 7 we carried over 16 + 7 = 23 The 3 goes in the tens and the 2 is carried over to the hundreds

The total cost is 232p

To find the change we need to take 232p away from £10 £10 = 1000p The change will be 1000 - 232

We start with the column on the right, the ones. We do not want to take 2 away from 0 so we need to take a ten and move it to the ones We do not have any tens or hundreds We can take one thousand and move it to the hundreds, the take one hundred and move it to the tens, then take a ten and move it to the ones. 1000 = 900 + 90 + 10

We can now subtract each column, starting with the ones 10 - 2 = 8

In the tens we have 9 - 3 9 - 3 = 6

In the hundreds we have 9 - 2 9 - 2 = 7

We can convert pence to pounds and pence by dividing by 100 768p = £7.68

Example 3: You buy: 2 burgers for 1.49p each. 3 portions of chips for £1.15 each 5 drinks for £1.28 each Work out the total cost.

We need to work out the cost of the burgers, the cost of the chips and the cost of the drinks. We can then add them all together.

For the burgers we have 2 × 149 (I will do the working out in pence and convert back to pounds at the end).

We start with the ones. 2 × 9 = 18 The 8 goes in the ones and we carry the 1 over to the tens.

Next is the tens. 2 × 4 = 8 We add on the 1 we carried over 8 + 1 = 9

The final column is the hundreds. 2 × 1 = 2

2 × 149 = 298

For the chips we have 3 × 115

The first column is the ones. 3 × 5 = 15 The 5 goes in the ones and we carry the 1 over to the tens.

The next column is the tens. 3 × 1 = 3 We add the 1 we carried over 3 + 1 = 4

The last column is the hundreds. 3 × 1 = 3

3 × 115 = 345

For the drinks we have 5 × 128

The first column is the ones. 5 × 8 = 40 The 0 goes in the ones and we carry the 4 over to the tens.

The next column is the tens. 5 × 2 = 10 We add the 4 we carried over 10 + 4 = 14 The 4 goes in the tens and we carry the 1 over to the hundreds.

The next column is the hundreds. 5 × 1 = 5 We add the 1 we carried over 5 + 1 = 6

5 × 128 = 640

We can now add together the cost of the burgers, chips and drinks to find the total cost.

We need to work out 298 + 345 + 640. We can use column addition

The first column is the ones. 8 + 5 + 0 = 13 The 3 goes in the ones and we carry the 1 over to the tens.

The next column is the tens. 9 + 4 + 4 + 1 = 18 The 8 goes in the tens and we carry the 1 over to the hundreds.

The next column is the hundreds. 2 + 3 + 6 + 1 = 12 The 2 goes in the hundreds and the 1 goes in the thousands.

298 + 345 + 640 = 1283 1283 ÷ 100 = 12.83 The total cost is £12.83

Example 4: You buy a car for £9000 You pay a deposit of £3200 and the rest in 25 monthly installments. Work out the amount of each installment.

The first step in this question is to subtract the deposit of £3200 from the price to see how much is left to pay.

We need to work out 9000 - 3200

We start with the ones. 0 - 0 = 0

In the tens we also have 0 - 0 = 0

In the hundreds we have 0 - 2 We need to take one thousand and move it to the hundreds. 9000 is the same as 8000 + 1000

We now have 10 - 2 in the hundreds 10 - 2 = 8

In the thousands we have 8 - 3 8 - 3 = 5

9000 - 3200 = 5800

We have 5800 left to pay. We need to divide 5800 by 25 to work out the monthly payment. 5800 ÷ 25

We can use short division. We can write the 25 times table down the side to make the division easier.

We start with the biggest column, the thousands. 25 does not go into 5 so we carry the 5 over to the hundreds where it is worth 50.

Next is the hundreds. 25 goes into 58 twice. 25 × 2 = 50 58 - 50 = 8 We carry the 8 over to the tens (where it is worth 80).

Next is the tens. 25 goes into 80 three times. 25 × 3 = 75 80 - 75 = 5 We have 5 left over to carry over to the ones.

In the ones we have 50 25 × 2 = 50 5800 ÷ 25 = 232

The monthly installments are £232

16 Money Word Problems with Solutions and Answers (By Grade)

By: Author Amanda L. Grossman

Posted on Last updated: January 9, 2024

Develop students’ money life skills plus work on math concepts with real-life money word problems with solutions and answers.

Bell ringers, math centers, classroom money pickles, daily warm-ups…you can sneak these money word problems with solutions and answers into your student’s day in lots of different ways.

Or, make them the highlight of your 30-minute personal finance session – use whatever time you’ve got.  

The exciting thing about using money word problems and consumer math worksheets is you’re giving your students the chance to practice both math AND money life skills they’ll be able to use out in the wilds of the “real world” (like in the produce section of the super market).

Awesome! Let’s dig in.

Money Word Problems with Solutions and Answers

Money word problems can begin as early as 2 nd grade with simple addition and subtraction.

And they get increasingly more complex – two steps, then multiple steps, and more complex thinking – as students go through middle school and then high school.

We’ll start with the easier money word problems, and move into more complex ones, by grade.

Psst: do your students need a refresher on counting money or identifying coins? Here are free 2 nd grade money worksheets , 14 money counting games , and a bunch of free consumer math worksheets .

Money Word Problems Grade 3

While there’s no mention of money for Grade 3 Common Core Standards , you can relate several of the math standards to money word problems.

Teaching students math AND money life skills at the same time? #winning.

For example:

• Number and Operations in Base Ten (CCSS.MATH.CONTENT.3.NBT.A.2) : Fluently add and subtract within 1000 using strategies and algorithms based on place value, properties of operations, and/or the relationship between addition and subtraction.
• Operations and Algebraic Thinking (CCSS.MATH.CONTENT.3.OA.D.8) : Solve two-step word problems using the four operations. Represent these problems using equations with a letter standing for the unknown quantity. Assess the reasonableness of answers using mental computation and estimation strategies including rounding.

Here are some worksheets with money word problems to help your students practice these concepts.

1. Money Task Cards + Scavenger Hunt

This free set of money task cards each has mostly one-step money word problems on them.

You can cut them out, and do a scavenger hunt around the room to get students up and moving. OR, she has lots of other ideas for how to use them. There’s also a worksheet asking students to come up with their own money word problem using specific amounts.

Very helpful!

2. Money Shopping Word Problems

Scroll down on this page, and you’ll find a nice collection of shopping money word problem worksheets for free.

Students will work through:

• Adding up the cost of ordered items from a menu
• Calculating their change after an order
• Calculating sales tax

They’ve also got some good free worksheets on Wage word problems, simple and compound interest calculation word problems, etc.

Hint: there’s worksheets in here for older grades, too.

Two-Step Money Word Problems for 3 rd Graders

You likely saw above that third graders are supposed to be doing two-step word problems.

Two-step money word problems require two calculations to complete them. They’re not entirely straightforward – your students will need to think things through a bit more before they can come up with the correct answer.

3. Money Within $100 Word Problems

Get your set of 5 free, two-step money word problems within $100. Each word problem has space to draw and work through the problem.

4. Simple Two-Step Money Word Problems

Here’s a three-page set of two-step money word problems that have students add up the total amount of spending, then figure out how much change they should get back.

There are spaces for students to work out each of the two steps.

Hint: this is a free set of money word problems, but you’ll need a free Teachers Pay Teachers account to access it.

5. August Problem Solving Path Worksheets

I just love the real-world approach this packet of word problems takes.

She includes a math journal for each problem (there is one money word problem, and the rest are word problems involving other common core standards for 3 rd graders), and a rubric on the math journal sheet so that you can easily grade based on your student’s work.

There’s both a US and a UK version.

6. Two Simple Two-Step Money Word Problems

And here’s another set of two-step money word problems for 2 nd -4 th graders. Again, kids are asked to add up the total cost of items purchased, then calculate how much change they would get back.

7. Can I Buy It? Word Problems

If you’re looking for an easier set of two-step word problems for your bunch of students, then you should check these out.

8. Mix of One-Step and Two-Step Money Word Problems

Here’s a simple worksheet that has a mix of both two-step and one-step money word problems for 3 rd graders. The theme is around ordering food items.

Money Word Problems with Solutions and Answers Grade 5

There are no Common Core State Standards for Mathematics (CCSSM) specifically for money math at the 5th grade level.

However, you can relate the math concepts in the CCSSM to real-life money scenarios with these money word problems.

• Number and Operations in Base Ten (CCSS.MATH.CONTENT.5.NBT.B.5 – B.7) : Students should be able to perform operations with multi-digit whole numbers and decimals to the hundredths (which is an essential skill when working with money).
• Operations and Algebraic Thinking (CCSS.MATH.CONTENT.5.OA.A.2) : Students should be able to understand and write expressions and equations and solve real-world and mathematical problems using addition, subtraction, multiplication, and division.

1. Bertie’s Big Win

Students are tasked with figuring out how much money Bertie won through the lottery, based on the fractional amounts he spent on various things (like a house, a trip to space, a luxury yacht, etc.).

Answer sheet is included, which is good – because this is a tough one!

Hint: they say on the website that the 4 th grade versions of his money word problems are a bit easier than the 5 th grade ones, so you might want to try those if this seems too hard for your class.

2. YMI’s Healthy Meal, Healthy Budget Worksheets

Grab your free teaching kit (for grades 3-5, then 6-8) that pairs healthy eating lessons with 5 money math word problems you’d find in the real world.

For example, the first word problem asks students to plan a meal for two people using chicken tenders as the base. They’re given the serving size for each person, then two different options to buy and asked to calculate which is the best money (by calculating the per-unit cost and then comparing that with what they get). 

Answers and explanations are provided.

3. Mixed Practice Money Word Problems

Students are given three paragraphs describing a real-life scenario that is going to cost money. Then, students are asked a series of questions below it, and will need to use multiple kinds of calculations to solve them (subtraction, addition, multiplication, etc.).

4. Value Your Power Word Problems

Here’s a set of money math worksheets tied to electricity use in the household.

In the first activity, students are asked to decipher an electricity bill. They’ll chart the kilowatts used each month of the year, and then work through a series of questions based on that information (such as calculating an average monthly cost).

There’s also a Value Your Power Scoreboard worksheet students can take home as a family challenge.

Hint: it says it’s for 4 th grade – but I suspect these would be great for some 5 th grade students anyway.

5. Thanksgiving Dinner PBL

This project for grades 3-5 starts with the following driving question:

“ I need to feed my family of six for Thanksgiving. For my meal I need an appetizer, main dish, two side dishes, a dessert, and a drink (at least). I have $175 to spend on all the ingredients and any decorations I may want. What should I make?”

Students are tasked with creating a meal plan, recipes, and a grocery list with prices.

Hint: you’ll need a free account on ShareMyLesson.com to download this free lesson plan and rubric.

Advanced Money Word Problems for Older Students

Got a group of high schoolers, or advanced middle schoolers to find money word problems for? These multi-step money word problems and money-thinkers might be just the thing.

Money Word Problem #1: Ad Sale Decode

Money Lesson : Ads aren't always truthful, or as good of a deal as they first seem.

Norgay Sherpa, a mighty Everest climber who has personally climbed to the top of Everest three times (called summitting), saw a television commercial for a pair of Black Diamond Trail Pro Shock Trekking Poles. They have non-slip grips + are collapsible (something that would be very helpful on future climbs).

He wants to purchase them, but is confused about how much his total cost will be. Here are the details for a pair of trekking poles:

• Two easy payments of $127.05
• $9.95 Shipping & Handling
• Get one extra pair free (an incredible deal!), just pay Shipping & Handling (S&H)

What is Sherpa Norgay's total cost going to be?

Answer : $274. How you get there is adding the two “easy payments” of $127.05 + $127.05 + $9.95 S&H + $9.95 S&H (for the second “free” pair).

Money Word Problem #2: Car Insurance Snafu

Money Lesson : How auto insurance works.

One of your expedition partners, Sandy, is facing a money dilemma. She called her husband over Base Camp's satellite phone and found out he was in a car accident. Don't worry, he's okay! But their family car looks like it was in an Avalanche.

Here are the details:

• The accident was her husband's fault, meaning he hit the other car.
• Her family has a liability auto insurance policy that insures both of their vehicles.
• They pay a monthly premium of $96/month.
• They took the vehicle to a repair shop, and the quote to repair their car is $875.
• They have an auto insurance deductible of $500.

How much is this car repair going to cost Sandy and her family out of their own pocket?

Answer : $875. They don't have comprehensive car insurance, and Liability Only insurance means costs to repair the other person's car will be paid, but not their own car. So, they're left to pay the full $875.

Money Word Problem #3: Foreign Currency Mix Up

Money Lesson : How to figure out the value of a US Dollar against one of the other 168 currencies in the world.

Mingma Sherpa has been an outstanding partner for your expedition team. He's done all of his duties to help you on Everest − such as setting up your tents and cooking some of your meals − and was paid 360,908.33 Nepalese Rupees for doing so.

It is common courtesy to tip your Sherpa, especially when they've done a great job. If you were to tip Mingma 51,593.24 Nepalese Rupees, how many US Dollars would that be?

Assume that 1 US dollar = 103.186 Nepalese Rupees.

Answer : $500 US Dollars. That's 51,593.24/103.186.

I hope you've found some helpful money word problems with solutions and answers. I think these can open up some fun and helpful discussions with and between students that will help them manage their money as adults.

• Latest Posts

Amanda L. Grossman

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Resources tagged with: Money

There are 24 NRICH Mathematical resources connected to Money , you may find related items under Measuring and calculating with units .

Fruity Pairs

Which two items of fruit could Kate and Sam choose? Can you order the prices from lowest to highest?

Planning a School Trip

You are organising a school trip and you need to write a letter to parents to let them know about the day. Use the cards to gather all the information you need.

How Much Did it Cost?

Use your logical-thinking skills to deduce how much Dan's crisps and ice-cream cost altogether.

Your school has been left a million pounds in the will of an ex- pupil. What model of investment and spending would you use in order to ensure the best return on the money?

Plenty of Pens

Amy's mum had given her £2.50 to spend. She bought four times as many pens as pencils and was given 40p change. How many of each did she buy?

Ram divided 15 pennies among four small bags. He could then pay any sum of money from 1p to 15p without opening any bag. How many pennies did Ram put in each bag?

Oh for the Mathematics of Yesteryear

A garrison of 600 men has just enough bread ... but, with the news that the enemy was planning an attack... How many ounces of bread a day must each man in the garrison be allowed, to hold out 45 days against the siege of the enemy?

The Puzzling Sweet Shop

There were chews for 2p, mini eggs for 3p, Chocko bars for 5p and lollypops for 7p in the sweet shop. What could each of the children buy with their money?

Buying a Balloon

Lolla bought a balloon at the circus. She gave the clown six coins to pay for it. What could Lolla have paid for the balloon?

Ben has five coins in his pocket. How much money might he have?

Charitable Pennies

Investigate the different ways that fifteen schools could have given money in a charity fundraiser.

Money Line-up

In this game for two players, the aim is to make a row of four coins which total one dollar.

What is the smallest number of coins needed to make up 12 dollars and 83 cents?

2010: A Year of Investigations

This article for teachers suggests ideas for activities built around 10 and 2010.

At the Pumps

How will you find out how much a tank of petrol costs?

Five More Coins

Could Ben have any amount of money between 5p and £2 in his pocket if he has five coins?

The Money Maze

Go through the maze, collecting and losing your money as you go. Which route gives you the highest return? And the lowest?

History of Money

If you would like a new CD you would probably go into a shop and buy one using coins or notes. (You might need to do a bit of saving first!) However, this way of paying for the things you want did not always exist. Find out more ...

Money Problems?

Marion Bond investigates the skills needed in order for children to understand money.

Chocoholics

George and Jim want to buy a chocolate bar. George needs 2p more and Jim need 50p more to buy it. How much is the chocolate bar?

Roasting Old Chestnuts 4

For teachers. Yet more school maths from long ago-interest and percentages.

Here are the prices for 1st and 2nd class mail within the UK. You have an unlimited number of each of these stamps. Which stamps would you need to post a parcel weighing 825g?

Thirty Nine, Seventy Five

We have exactly 100 coins. There are five different values of coins. We have decided to buy a piece of computer software for 39.75. We have the correct money, not a penny more, not a penny less! Can you discover what the five different types of coins are worth and how many of each we have saved?

Christmas Shopping

Vera is shopping at a market with these coins in her purse. Which things could she give exactly the right amount for?

Money Master

How good are your money handling skills? How fast can you give change?

Instructions: Drag the money onto or off the surface.

New Version 1.44: Difficulty Levels.

It is important to be able to handle money!

• You need to be able to give people the correct amount when you buy something
• You also need to check that you get the right change
• You should also be able to give the correct change when you sell something

And being able to do this fast and accurately makes you look smart and efficient.

You may be good at handling your own currency, but what if you go on holidays? Get practice with any of these major currencies :

• Australian Dollars
• Bangladeshi Taka
• British Pounds
• Canadian Dollars
• Chinese Yuan
• Egyptian Pound
• Hong Kong Dollars
• Indian Rupee
• Israeli Shekel
• Japanese Yen
• Lebanese Pound
• Malaysian Ringgit
• Mexican Peso
• New Zealand Dollars
• Nigerian Naira
• Pakistani Rupees
• Philippine Peso
• Russian Rouble
• Singapore Dollars
• South African Rand

(Note: if we don't have your currency, and you have some nice images of your coins and bank notes, then contact me and I will see about adding them.)

Money Coins Practice Questions

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• Fifth Grade

Money Word Problems and Operations

Fifth grade money word problems and operations.

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Year 3 Money Challenges Solving Money Problems

Welcome to our Year 3 Money Challenges page. Here you will find our selection of printable money problem worksheets to help your child learn to use their money skills to solve a range of problems.

These challenges are a great resource as an extension for more able pupils, or to consolidate and extend learning.

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Year 3 Money Learning

Knowing how to handle and calculate with money is a very important life-skill.

During Year 3, children build on their knowledge and skills they have achieved during Year 2.

By the time children reach the end of Year 3, they should be able to:-

• use decimal notation for amounts of money, e.g. £3.27
• change amounts in £ to amounts in pence and back;
• count money up to £10;
• calculate change for amounts of money up to £1 mentally;
• solve simple problems involving money;
• use informal methods to add and subtract money amounts in £ and pence.

Our worksheets will support your child with these objectives.

Year 3 Money Challenges Information

The following worksheets involve solving challenges involving money amounts. They are a great way to consolidate and extend money learning once children are confident with counting money amounts.

The challenges start off at a fairly easy level with problems that involve lower value coins and smaller money amounts. The challenges later on involve more complex problems with larger values to calculate.

If you are teaching a class or group of children, then these sheets should give you some great differentiated learning activities with a money theme.

An answer sheet is available for each challenge provided.

The money challenges in each section are carefully graded, allowing you to introduce concepts at an easier level before introducing harder work, or differentiate within your class.

Using the sheets in this section will help your child to:

• count money in coins up to £1;
• develop their reasoning and thinking skills;
• solve problems involving money.

All the money worksheets in this section will help your child to become more confident with money, and develop better problem solving skills.

Year 3 Money Challenges Worksheets

There are 3 challenges - Tyger's Money Square Challenge, Row of Coins Challenge and How Much Money Challenge.

Each main challenge has several versions which start with the easiest level and progress onto harder levels of challenge.

Row of Coins Challenges

• Row of Coins Challenge 1
• PDF version
• Row of Coins Challenge 2
• Row of Coins Challenge 3
• Row of Coins Challenge 4

Tyger's Money Square Challenges

• Tyger's Money Square Challenge 1
• Tyger's Money Square Challenge 2
• Tyger's Money Square Challenge 3
• Tyger's Money Square Challenge 4

How Much Money Challenges

• How Much Money Challenge 1
• How Much Money Challenge 2
• How Much Money Challenge 3

Extension Activity Ideas

If you are looking for a way to extend learning with the How Much Money challenge, why not...

Try playing 'How Much Money' in pairs.

One person chooses 2 or 3 coins and the other person has to ask questions which involve 'yes' or 'no' answers.

To make the game more interesting, have a maximum of 5 questions before you make a guess!

Looking for some more UK money worksheets?

We also have some counting money worksheets with amounts up to £1 or £5.

The sheets are at a more basic level than those on this page.

• Free UK Money Worksheets Coins up to £1
• Year 3 Money Worksheets Coins up to £5
• Year 4 Money Challenges

More Recommended Math Worksheets

Take a look at some more of our worksheets similar to these.

Money Riddles

These puzzles are a great money starter activity to get children thinking and puzzling out which the correct answer is out of a set number of choices. They are great for partner work too.

UK Money Riddles

If you are looking for some fun learning puzzles involving money, then look no further.

The puzzle sheets in this section are designed primarily for children in Years 3 and 4 who need to develop their problem solving skills and mathematical language.

Using these challenges will help your child to:

• apply their existing skills to puzzle out clues;
• understand money terminology;
• develop their thinking skills.
• Money Riddles for Kids (UK coins)

Money Column Addition Worksheets

Here you will find a selection of Column Addition Money sheets designed to help your child add different amounts of money.

Using these sheets will help your child to:

• add up a range of money amounts involving decimals.

The worksheets in this section are aimed at children in Years 4 and 5.

• Column Addition Money Worksheets (UK)

Money Column Subtraction Worksheets

Here you will find a selection of Column Subtraction Money sheets designed to help your child subtract different amounts of money.

• subtract a range of money amounts involving decimals.
• Column Subtraction Money Worksheets (UK)
• Counting Money Games

Here is our collection of counting money games for kids.

All of these games are suitable for kids aged from 1st grade and upwards.

Playing games is a great way to practice math skills in a fun way. Games also help to develop reasoning, thinking and memory.

How to Print or Save these sheets 🖶

Need help with printing or saving? Follow these 3 steps to get your worksheets printed perfectly!

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The Math Salamanders hope you enjoy using these free printable Math worksheets and all our other Math games and resources.

We welcome any comments about our site or worksheets on the Facebook comments box at the bottom of every page.

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Helping with Math

Note: this page contains legacy resources that are no longer supported. You are free to continue using these materials but we can only support our current worksheets , available as part of our membership offering .

Math Money Word Problems

In this lesson, students will solve math word problems using money, decimals , and fractions . These problems will include all four operations (addition, subtraction , multiplication , and division). Students will solve problems involving multiple steps (for example, students may be asked to first add, then subtract). Lastly, students will solve money problems using simple fractions.

Learning Outcomes

On successful completion of this lesson your child will be able to:

• Solve money problems using all four operations (addition, subtraction, multiplication, and division)
• Solve multi-step problems (e.g. first multiply, then subtract)
• Solve money problems using simple fractions

Work through the warm up section below with your children and then try the worksheet before moving on to the main part of the lesson.

Operations and Key Words in Word Problems

The chart below shows common terms for the 4 operations found in many word problems.

Below are some examples of key words in word problems.

• Jackson has 250 baseball cards and 175 football cards. How many baseball and football cards does he have  in all ? (Add 250 + 175 = 425 cards).
• How many more  baseball cards than football cards does Jackson have? (Subtract 250 – 175 = 75 cards).
• Mrs. Silver has 5  rows  of daisies in her garden. There are 6 daisies in each row. How many  total  daises are in Mrs. Silver’s garden? (Multiply 6 x 5 = 30 daisies).
• Mrs. Silver also has lilies in her garden. She planted 18 daisies. She has 6  rows  of daisies. How many daisies are in  each row ? (Divide 18 ÷ 6 = 3 daisies in each row)

Money, Decimals, Fraction Connections

The chart below shows you connections between money, decimals, and fractions

Pre-assessment worksheet

Have your children try the assessment worksheet below before starting the main lesson.

• Word Problems: Money  – Pre-assessment

Main Lesson: Money Word Problems

Below are eight examples of money word problems. Work through these with your children and have them try the word problem worksheets as they go.

Example 1 of 8: Money Word Problem With Addition

Stephanie received {$15.25} for babysitting on Friday night and {$17.75} for babysitting on Saturday night. How much did she make in total?

Help your children add money using real dollars and coins. Encourage them to count dollars and coins left over from change, that is in your wallet, or spare change in the house.  Remind them that when they count money, they are adding and that coins are decimals . Coins are parts of dollars just like decimals are parts of whole numbers .

Example 2 of 8: Money Word Problem With Subtraction

Jessica has {$25.00} to spend in the video game store. She buys a used game for {$15.83}. How much money does she have left over?

Example 3 of 8: Money Word Problem With Multiplication

Sol wants to buy a candy bar for {$0.75}. If he buys {4} candy bars, how much total money will he spend?

• Step 1: Underline important information and { bracket}  important numbers.
• Step 2: Ask: What is this question asking me to do? (Determine how much total money will Sol spend?).
• Step 3: Write a number sentence ($0.75 x 4)
• Step 4: Count the number of decimal places in 0.75. There are 2 decimal places. The 7 is in the tenths place and the 5 is in the hundredths place.
• Step 5: Multiply 75 x 4 = 300
• Step 6: Put the decimal point back into the product.  3.00
• Step 7: Write the answer.  Sol will have to spend $3.00

Encourage your children to use the partial product method to multiply 75 by 4. Partial product involves multiply the 75 in expanded form (70 x 4)+(5 x 4)=300

Example 4 of 8: Money Word Problem With Division

Rudy received {$24.75} for his birthday. He wants to split the money into groups to save for {three things}: movie tickets; art supplies; music downloads. If he wants the same amount for each activity, how much money will he put into each group?

• Step 1: Underline operation key terms and {bracket} important numbers.
• Step 2: Ask: What is this question asking me to do? (How much will Rudy put into each group?).
• Step 3: Write a number sentence ($24.75 ÷ 3)
• Step 4: Divide whole dollars first (24 ÷ 3 = 8)
• Step 5: Divide cents next (0.75 ÷ 3 = 0.25)
• Step 6: Add dollars and cents. $8 + 0.25 = $8.25
• Step 7: Write the answer.  Rudy will put $8.25 in each group.

Try this  Word Problems Worksheet  to practice with money word problems that are similar to examples 1 to 4 above.

Remind your children that 0.75 is 3 quarters. Three quarters divided by 3 is one quarter or 0.25.

Example 5 of 8: Multi-step Money Word Problem

Talia is at the mall with her friends. She buys a DVD for {$10.99}. Then she buys a new pair of earrings for {$8.25}. Lastly, she gets her mother a bouquet of flowers for {$9.50}. If she starts with {$50}, how much does she have after she goes shopping?

• Step 2: Ask: What is this question asking me to do? (How much will Talia have after she goes shopping?).
• Step 3: First, add the total amount that she spent ($10.99 + $8.25 + $9.50 = $28.74)
• Step 4: Then, subtract the  total  amount Talia spent from the amount she started with ($50.00 – $28.74 = $21.26)
• Step 5: Write the answer. Talia spent $21.26

Remind your child that a multi-step problem means that there is more than one step in solving the problem. In this case, first you add, then you subtract.

Example 6 of 8: Multi-step Money Word Problem

Josiah is buying {5} packs of gum that cost {$1.50} each. He wants to share his gum with {two} friends. He asks his friends to pay him for their share. Including Josiah, how much does each person spend on gum?

Try this  Multi-step word problems worksheet  to practice with problems that are similar to examples 5 and 6 above.

Dividing decimals may present a challenge for your child. Also, in the above problem, encourage your child to make connections between the 7.50 and the 3 as “seventy-five cents” and “three.” If you divided 75 cents by 3, you would get 25 cents. Note: Your children might not be shown how perform operations with decimals until 5th Grade.

Example 7 of 8: Money Word Problem With Fractions

Todd has {$100} saved from shoveling snow and raking leaves. If { ½ } his money came from shoveling snow, how much money did he make raking leaves?

• Step 2: Ask: What is this question asking me to do? (How much money did Todd make raking leaves?).
• Step 3: First find ½ of $100. $100 ÷ 2 = $50
• Step 4: Since half divides the $100 into two equal amounts, Todd made $50 from raking leaves and $50 from shoveling snow.
• Step 5: Write the answer. Todd made $50 shoveling snow.

Example 8 of 8: Money Word Problem With Fractions

Spencer received {$240} a month for tutoring 4th grade students. { ¼ } of his earnings came from tutoring students in math. How much money did he make tutoring students in math?

• Step 2: Ask: What is this question asking me to do? (How much money did Spencer make tutoring math?).
• Step 3: First find ¼ of $240. Since one-fourth (¼) means to divide by 4, you are now dividing by a whole number: $240 ÷ 4 = $60.
• Step 5: Write the answer. Spencer made $60 tutoring math.

Try this  Money Word Problems Worksheet  to practice with problems that are similar to examples 7 and 8 above.

Money Word Problems: Worksheets

Listed below are the 3 worksheets included in the above lesson

• Word Problems: Decimals Worksheet  – with addition, subtraction, multiplication, & division
• Word Problems: Multi-step
• Word Problems: Money With Fractions

Test Questions

Have your children try the 8 questions in the Post-assessment worksheet below. Check their answers and review this lesson with them if necessary.

• Word Problems: Money  – Post-assessment (8 questions)

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How One Family Lost $900,000 in a Timeshare Scam

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