Money Word Problems

Money Word Problems - Practice Question

Calculate Total Amount

Q1) There are twelve 10 cent coins, nine 20 cent coins and twenty four 50 cent coins in a box. What is the total amount in the box?

A) $45.00

B) $21.00

C) $35.00

D) $15.00

In this question the information given is that

There are Twelve 10 cent coins

Nine 20 cent coins

Twenty four 50 cent coins

It is asked what is the total amount in the box.

Twelve 10 cent coins equal 12 x 10 cents

12 x 10 cents = 120 cents

100 cents = $1

120 cents = $1.20

Nine Twenty cent coins equals 9 x 20 cents

9 x 20 cents = 180 cents

100 cents = $1

180 cents = $1.80

Adding up the two amounts = $1.20 cents + $1.80 cents

$1.20 cents + $1.80 cents = $3.00

$1.20 and $1.80 can also be added together by first adding the dollar amounts and then adding up the cents.

$1.20 + $1.80 = $1 + 20 cents + $1 + 80 cents

$1.20 + $1.80 = $2 + 20 cents + 80 cents

20 cents + 80 cents = 100 cents = $1

$1.20 + $1.80 = $2 + $1

$1.20 + $1.80 = $3

Twenty Four 50 cents coins equals 24 x 50 cents

50 cents = Half a dollar

Two 50 cent coins = $1

Half of 24 = 12

24 x 50 cents = $12

Total Amount = $3 + $12

Total Amount = $15

Total amount in the box equals $15

Choice D is the correct answer.

Q2) A student saves $2.50 each week for 8 weeks. What is the total amount saved in 8 weeks?

A) $20.00

B) $21.00

C) $12.50

D) $25.00

In this question the information given is that

Student saves $2.50 for 8 weeks

It is asked what is the total amount saved in 8 weeks.

$2.50 = 2 dollars and 50 cents

Amount Saved in 8 weeks = $2.50 x 8

$2.50 x 8 = $20

$2.50 x 8 can also be calculated as follows

$2.50 x 8 = $2 x 8 + 50 cents x 8

$2 x 8 = $16

50 cents x 8 = $4

$2.50 x 8 = $16 + $4