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Solve money problems with decimals

Money problems are modeled by interpreting dollars and cents as decimals to the hundredths place, choosing operations, and finding and explaining totals, costs, change, and comparisons. Reasoning includes aligning decimal place values when adding or subtracting, using whole-number multiplication for repeated equal prices when appropriate, estimating to check reasonableness, and recognizing that cents are hundredths of a dollar; decimal multiplication and division involving general decimal factors are beyond this scope.

Detailed Explanation: Solve money problems with decimals

Money amounts are written as decimals to the hundredths place because 11 cent is 0.01$.

Example:
Mia has 5.00.Shebuysanotebookfor. She buys a notebook for $1.75and3pencilsthatcostand 3 pencils that cost$0.40$ each. How much change does she receive?

  1. Find the cost of the pencils.
    Since all 3 pencils cost the same, multiply the price by 3:

$0.40+$0.40+$0.40=$1.20\$0.40+\$0.40+\$0.40=\$1.20

  1. Add the costs.
    Line up the decimal points so the dollars and cents are in the correct places:

$1.75+$1.20$2.95 \begin{array}{r} \$1.75\\ +\$1.20\\ \hline \$2.95 \end{array}

Mia spends 2.95$.

  1. Subtract the cost from the amount Mia has.

$5.00−$2.95$2.05 \begin{array}{r} \$5.00\\ -\$2.95\\ \hline \$2.05 \end{array}

Mia receives 2.05$ in change.

  1. Check your answer.
    The cost is about 3,and, and $5-$3isaboutis about$2.So. So $2.05$ is reasonable.

Learn by doing: Solve money problems with decimals

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