How Much Change Will You Get Back From $10
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Money is basically something that we can use or exchange in order to get goods or enjoy services. We should know how to calculate change because we use money to buy and sell things many times a day.
See the fact file below for more information on the change money or alternatively, you can download our 28-page Change Money worksheet pack to utilise within the classroom or home environment. This worksheet is broken down by Beginner, intermediate and advanced meaning you can choose the complexity level for your student.
Key Facts & Information
Summary:
- Money is basically something that we can use or exchange in order to get goods or enjoy services.
- Bills are pieces of paper and are a form of money.
- Similarly coins are pieces of metal and are also a form of money.
- We should know how to calculate change because we use money to buy and sell things many times a day.
- Change money = paid money – bill
- Paid money = change + bill
- Counting money and calculating change money is a very important skill and will be used in all parts of life.
What is money?
- Money is basically something that we can use or exchange in order to get goods or enjoy services. Money is an essential part of life and is used all the time. Money is in the form of coins or bills. We should know how to identify and count money. Different coins and different bills have different value. Dealing with money is an essential skill that children should learn.
- Some common coins used are penny, nickel, dime, quarter and half dollar. Similarly we have bills of 1, 5, 10 dollars etc.
Why are money handling skills important?
- Money handling skills are important because when you go to buy something you should be able to pay the right amount of money and collect the right amount of change. Sometimes we may want to sell something to someone. In this case if we know how to identify money then only we can accept the right payment and give the right change money to the customer.
Making change
- Making change is a very important part of money handling. When we are buying something from the market and we pay a certain amount to the cashier then we should know what change he must return to us. Similarly if we plan on selling something to someone or to start our own business we should know what change to give to the customer.
- Making change in also mental maths. We should know how to make change without the use of pencil, paper or calculator.
How to make change?
- An easy method to make change is by using the formula given below:
Paid money = change money + bill
- If the left hand side of this equation is equal to the right hand side that means that the right change money was received.
- Lets give an example to elaborate this concept. Suppose you went to a shop and bought grocery for 18 dollars. You gave 20 dollar bill to the cashier. He returned 2 dollars as change. To check if he returned the right change we use the above given equation:
Paid money = change money + bill
- Solving the right hand side
Change money + bill = 2 + 18
Change money + bill= 20 dollars
- Which is equal to the amount paid. So yes right change has been returned by the cashier.
Example:
- The price of a carton of milk is 8 dollars. You give the cashier 10 dollars. What change should the cashier return?
Change = amount paid – bill
Change = 10 – 8
Change = 2 dollars
- So the cashier must return 2 dollars as change.
Example:
- Anna decides to buy a leather jacket. The price of the leather jacket is 43 dollars. Anna pays the cashier 50 dollar bill. How much change should he return to Anna?
- Anna paid 50 dollars. The change she should get can be calculated as follows:
Change = amount paid – bill
Change = 50 – 43
Change = 7 dollars
- So the cashier must return 7 dollars as change to Anna.
Example:
- The mart has good collection of kitchen appliances. Robin wants to buy an electric kettle.The price of the electric kettle at the mart is $120.25. Robin decides to buy it. So she pays $125 at the cash counter. How much change should she expect in return?
- This problem is a little complicated but can be solved with the help of an easy trick. To find the change we use the same equation that was used in the previous questions but here we ignore the digits after the point as shown below:
Change = amount paid – bill
Change = 125 – 120
Change = 5 dollars
- From these 5 dollars we subtract 25 cents.
Change = 5 dollars – 25 cents
Change = 4.75 dollars
- So the cashier has to return 4.75 $ to Robin.
Change Money Worksheets
This is a fantastic bundle which includes everything you need to know about change money across 28 in-depth pages. These are ready-to-use Change Money worksheets that are perfect for teaching students about the calculating change money which is a very important skill and will be used in all parts of life.
Complete List Of Included Worksheets
- Worksheet 1 (Beginner)
- Worksheet 2 (Beginner)
- Worksheet 3 (Beginner)
- Worksheet 4 (Beginner)
- Worksheet 5 (Intermediate)
- Worksheet 6 (Intermediate)
- Worksheet 7 (Intermediate)
- Worksheet 8 (Intermediate)
- Worksheet 9 (Advance)
- Worksheet 10 (Advance)
- Worksheet 11 (Advance)
- Worksheet 12 (Advance)
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Link will appear as Calculate Change (Money) Worksheets: https://kidskonnect.com - KidsKonnect, March 29, 2019
Use With Any Curriculum
These worksheets have been specifically designed for use with any international curriculum. You can use these worksheets as-is, or edit them using Google Slides to make them more specific to your own student ability levels and curriculum standards.
How Much Change Will You Get Back From $10
Source: https://kidskonnect.com/math/calculate-change-money-worksheets/
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