Money – Class 3 Mathematics

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Objective of the chapter: Money - Class 3

You will learn to:

  • convert rupees and paise
  • add, subtract and multiply rupees and paise
  • solve word problems involving money and paise
  • apply knowledge in real life situation

In this chapter – Money for Class 3, we will be solving problems involving money.

We will learn to convert Paise into Rupees and Rupees into Paise. 

Let's learn some basic facts first.

Money - Class 3

The currency of India is Indian rupee. It is represented by ₹ and is also written as INR which is the currency code.

The rupee is divided into paise.

1 Rupee = 100 paise

Or, you could also write as, 100 paise = 1 Rupee

Writing Rupees and Paise

Suppose you have 10-rupee note and one 50-paise coin.

In words we can write 10 rupees and 50 paise.

Let's see how you can write it in figures.

In figures, it will be ₹ 10.50

When we write the amount of money in figures, we do the following:

  • Symbol for rupees (₹) is written,
  • Rupees and paise are separated by a dot(.),
  • Rupees is written on the left of the dot and
  • Paise is written on the right of the dot

Let's see some examples.

  1. Rupees 10 = ₹ 10.00
  2. Rupees 20 and 50 paise = ₹ 20.50
  3. Rupees 100 = ₹ 100.00
  4. Rupees 100 and 50 paise = ₹ 100.50
  5. Rupees 5 and 5 paise = ₹ 5.05
  6. Rupees 15 and 25 paise = ₹ 15.25 paise
  7. Rupees 30 and 50 paise = ₹ 30.50

Conversion of Rupees to Paise

₹ 1 = 100 p

To convert rupees into paise, multiply the rupees by 100.

Let's see some examples.

  1. Rupees 5 = 5 x 100 p = 500 p
  2. Rupees 15 = 15 x 100 p = 1500 p
  3. Rupees 100 = 100 x 100 p = 10000 p

To convert rupees and paise into paise, multiply the rupees by 100 and add the paise to it.

Let's see some examples.

  1. Rupees 5 and 50 paise = 5 x 100 p + 50 p = 500 p + 50 p = 550 p
  2. Rupees 25 and 75 paise = 25 x 100 p + 75 p = 2500 p + 75 p = 2575 p

If rupees and paise are given in figures, just remove the dot (.) to convert it into paise.

Let's see some examples.

  1. ₹ 5.75 = 575 p
  2. ₹ 30.00 = 3000 p
  3. ₹ 55.25 = 5525 p

Conversion of Paise to Rupees

100 p = ₹ 1

To convert paise to rupees, divide paise by 100.

The quotient gives the rupees and the remainder gives the paise.

Let's see some examples.

1. 200 p = ₹ 200 ÷ 100 = ₹ 2

2. 375 p = ₹ 375 ÷ 100 = ₹ 3 75 p

Paise to Rupees Example 2

However, you do not actually need to divide by 100 to convert paise into rupees.

The above examples are just to make you understand the method.

There is a faster method to convert paise into rupees.

And this method is the easiest also.

To convert paise into rupees, simply put a dot before the second digit from the right.

Let's see some examples.

  1. 1050 p = ₹ 10.50
  2. 500 p = ₹ 5.00
  3. 50 p = ₹ 0.50
  4. 250 p = ₹ 2.50
  5. 1550 p = ₹ 15.50

Addition of money

Add ₹ 35.25 with ₹ 125.75. 

Let's see two methods to add money.

Method 1:

Arrange money into ₹ and p as shown in the image given below.

Addition of Money Example 1

Method 2:

Write in figures so that the dots are exactly one below the other. See the image given below.

Addition of Money Example 2

Subtraction of money

Subtract ₹ 35.26 from ₹ 125.70.

Let's see two methods to subtract money.

Method 1:

Arrange money into ₹ and p as shown in the image given below.

Subtraction of Money Example 1

Method 2:

Write in figures so that the dots are exactly one below the other. See the image given below.

Subtraction of Money Example 2

Multiplication of money

Multiplication of money is similar to multiplication of ordinary numbers. Just remember to put the dot (.) at the proper place in the product.

Let's see an example.

Multiply ₹ 5.20 by 5.

We would multiply 520 by 5 as we normally do.

We just had to put the dot (.) before the second digit from the right.

See the image given below.

Multiplication of Money Example 1