Money
Category : 2nd Class
QUICK CONCEPT REVIEW
Swati went to a gift shop. She liked a teddy bear how she can get the teddy bear from the gift shop.
Swati has to give money to the shopkeeper to
Get the teddy bear.
Currency
We need money to buy things. Money can be in form or a note or a coin.
In India, currency is used in the form of rupees and
Symbol of rupee is Rs. and paise is 'p'.
1 rupee = 100 Paise
Or 1 Rs. = 100 p.
Historical preview
Notes Coins
Expressing money
For example.
Sonu purchased a toy car in 125 rupees and 75 paise.
How can we express this money?
We can express it as Rs.125.75.
Exchanging Money
Let us understand this with the help of an example.
Suppose Rohit went to purchase a book of worth 100 rupees. He had money in Rs. 50 and Rs. 10 notes. How many notes of Rs. 50 and Rs. 10 he has to pay to purchase the book?
First, we have to know how to do the division of money.
Let us do the division of 100 rupees in different notes.
Rs. 50 note can further be divided into other notes. Rs. 50 is equivalent to five Rs. 10 notes. Also. Rs. 50 is equivalent to two Rs. 20 notes and one Rs. 10 note.
To purchase a book of worth Rs. 100, Rohit has to pay one Rs. 50 note and five Rs. 10 notes or two Rs. 50 notes. Can you tell in how many number of ways you can Purchase a lead pencil of worth Rs. 12? If you have each of the following type of coins with you.
There can be total 6 number of ways in which you can purchase a lead pencil of Rs. 12.
Addition and Subtraction of Money
Addition
Let us take an example.
Monty bought a packet of crayons Rs.25mdan ice-cream for Rs. 12. How much money did he spent?
Here, you can simply do the addition.
He spent Rs. 37.
Let us take another example.
Add 25 rupees 45 paise and 32 rupees 25 paise. In this case, we have to add rupees and paise separately.
Step 1. First add the paise
Step 2. Then add rupees.
25 rupees 45 paise
+ 32 rupees 25 paise
___________________________________
57 rupees 70 paise
So, you will get 57 rupees 70 paise or Rs. 57.70
SUBTRACTION
Let us take an example.
Aditi went to market. She had Rs. 75. She bought a geometry box of Rs. 32. How much rupees she is left with?
Aditi had Rs. 75. She purchased a geometry box of Rs. 32. So, we have to subtract Rs.32 from Rs. 75 to get the money Aditi had.
75 rupees
- 32 rupees
____________
43 rupees
She is left with Rs. 43.
Let us take another example.
Can you subtract 25 rupees 30 paise from 45 rupees 40 paise.
It is same like addtion. Subtract the paise first. Then, subtract rupees.
45 rupees 40 paise
-25 rupees 30 paise
____________________________
20 rupees 10 paise
So, you will get 20 rupees 10 paise or Rs. 20.10
CONVERSION OF RUPEES AND PAISE
Let us learn how to convert rupees into unit of paise and paise in unit of rupees.
We have learnt that Rs. 1 = 100 paise
Therefore, to convert rupees to paise multiply amount in rupees by 100.
For example:
Rs. 5 \[=\text{ 5 }\times \text{ 1}00\text{ p }=\text{ 5}00\text{ p}\]
and
Rs. 12.50 \[=\text{ 12}.\text{5}0\text{ }\times \text{ 1}00\text{ }=\text{ 125}0\text{ p}\]
For conversion of paise into rupees, divide amount in paise into rupees.
For example:
1635 paise = Rs.\[\text{1635 }\div \text{ 1}00\] = Rs. 16.35
Amazing Facts
Real Life Examples
Purchase of groceries every month is a routine expenditure and is a necessity as you need food to eat.
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