Solved Examples and Worksheet for Operations Involving Money

Q1Christina bought a T-shirt worth $8.48. She paid a ten-dollar bill. How much change did she get back?

A. $2.52
B. $1.52
C. $3.52
D. $15.20

Solutions
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Step: 1
The change that Christina got back = the money she paid - the cost of the T-shirt.
Step: 2
= $10.00 - $8.48
  [Substitute the values.]
Step: 3
10.00  [Line up the decimal points.]
- 8.48  
   1.52  [Subtract.]
Step: 4
So, Christina got back a change of $1.52.
Correct Answer is :   $1.52
Q2Quincy planned to bake a cake. She spent $6.46 for the cake mix, $3.50 for eggs and $12.36 for the shaped container. What was the total amount she spent in baking the cake?
A. $22.22
B. $23.55
C. $22.32
D. $21.32

Solutions
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Step: 1
The total amount Quincy spent in baking the cake = the money she spent for the cake mix + the money she spent for eggs + the money she spent for the shaped container.
Step: 2
= $6.46 + $3.50 + $12.36
  [Substitute the values.]
Step: 3


6.46
3.50
+ 12.36
............
22.32
............
  
[Align the decimal points.]




[Add.]
Step: 4
The total amount that Quincy spent in baking the cake was $22.32.
Correct Answer is :   $22.32
Q3A mechanic earns $325 and spends $225 per week. How much does he save each week?
A. $550
B. $100
C. $105
D. $139

Solutions
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Step: 1
The amount saved by the mechanic = the amount he earns - the amount he spends.
Step: 2
= 325 - 225
  [Substitute the values.]
Step: 3
= 100
  [Subtract.]
Step: 4
The mechanic saves $100 every week.
Correct Answer is :   $100
Q4Holly spent $5.63 to buy a doll and $3.63 to pay for lunch. Find the total amount of money she spent.
A. $8.26
B. $10.62
C. $9.26
D. $9.21

Solutions
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Step: 1
Total money Holly spent = Money spent on the doll + Money spent on lunch
Step: 2
= 5.63 + 3.63
  [Substitute the values.]
Step: 3
5.63[Line up the decimal points.]
+3.63
9.26[Add.]
Step: 4
The total money Holly spent is $9.26.
Correct Answer is :   $9.26
Q5Frank went shopping with $35.96 in his pocket. He spent $13.96. How much money is he left with?

A. $24
B. $25
C. $18
D. $22

Solutions
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Step: 1
The amount Frank is left with = the amount in Frank's pocket - the amount he spent
=   35.96  -  13.96
  [Substitute the values.]
Step: 2
35.96
- 13.96
............
22.00
............
  [Line up decimal points and make columns even.]

[Subtract.]
Step: 3
So, Frank is left with $22.
Correct Answer is :   $22
Q6Charlie bought 2 pens for $4. What is the cost of each pen?
A. $3
B. $2
C. $1.50
D. $2.50

Solutions
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Step: 1
The cost of each pen that Charlie bought = Total cost of pensNumber of pens.
Step: 2
= 42
  [Substitute the values.]
Step: 3
= 2
  [Divide.]
Step: 4
The cost of each pen is $2.
Correct Answer is :   $2
Q7Zelma went to a supermarket. She paid her bill by giving 6 $1 bills. How much was her bill?

A. $8
B. $6
C. $5
D. $7

Solutions
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Step: 1
The number of $1.00 bills that Zelma paid = 6.
Step: 2
Zelma's bill amount = (the number of bills) × (the cost of each bill).
Step: 3
= 6 × ($1.00)
  [Substitute the values.]
Step: 4
= $6
  [Multiply]
Step: 5
So, Zelmas bill amount was $6.
Correct Answer is :   $6
Q8Victor bought a basketball cap at a garage sale at the cost of 26 cents. How did he pay for the cap?


A. Figure D
B. Figure B
C. Figure A
D. Figure C

Solutions
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Step: 1
A quarter is equal to 25 cents.
Step: 2
26 cents = 25 cents + 1 cent = a quarter + a cent.
Step: 3
So, Victor would pay a quarter and a cent for the cap.
Correct Answer is :   Figure A
Q9It costs $20 to mail 10 postcards and $50 to mail 10 letters. How much more does it take to mail the letters?

A. $30
B. $50
C. $70
D. $40

Solutions
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Step: 1
Cost of mailing 10 postcards = $20
Step: 2
Cost of mailing 10 letters = $50
Step: 3
The additional amount one needs to pay to mail 10 letters than to mail 10 postcards = $50 - $20 = $30
  [Subtract.]
Step: 4
So, it costs $30 more to mail letters than to mail postcards.
Correct Answer is :   $30
Q10Hannah bought a T-shirt worth $12.28. She paid with a twenty-dollar bill. How much change did she get back?

A. $17.20
B. $3.72
C. $5.72
D. $7.72

Solutions
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Step: 1
Amount of change she got back = amount she paid - cost of the shirt
Step: 2
= 20 - 12.28 = 7.72
  [substitute and solve.]
Step: 3
She gets $7.72 back.
Correct Answer is :   $7.72
Q11Nina bought lemons for $0.07 each. How much money does she pay for 8 lemons?

A. $0.44
B. $0.48
C. $8.07
D. $0.56

Solutions
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Step: 1
Cost of one lemon = $0.07
Step: 2
Cost of 8 lemons = 8 × 0.07
Step: 3
So, Nina pays $0.56 for 8 lemons.
Correct Answer is :   $0.56
Q12Wilma bought a shirt for $23.45 and a bag for $15.30. How much more did Wilma spend on shirt than bag?

A. $6.50
B. $5.90
C. $7.05
D. $8.15

Solutions
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Step: 1
Cost of the shirt that Wilma bought = $23.45
Step: 2
Cost of the bag = $15.30
Step: 3
Difference between the costs = $23.45 - $15.30
Step: 4
$23.45  
-$15.30  
$  8.15  
Step: 5
Wilma spent $8.15 more on shirt than bag.
Correct Answer is :   $8.15
Q13Micheal bought a bag for $14.80. He gave $20 to the shopkeeper. How much change should he get?

A. $6.20
B. $5
C. $54.80
D. $5.20

Solutions
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Step: 1
Change Micheal gets = amount given to shopkeeper - cost of the bag
Step: 2
= 20 - 14.80 = $5.20
Step: 3
So, Micheal gets a change of $5.20.
Correct Answer is :   $5.20
Q14Dennis has two 5 dollar bills. He buys a teddy bear for $7. How much change does he get back?

A. $3
B. $1
C. $12
D. $2

Solutions
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Step: 1
The money with Dennis = 2 × $5 = $10
Step: 2
Cost of the teddy bear = $7
Step: 3
Change he gets back = Money he has - cost of the teddy bear
Step: 4
= $10 - $7 = $3
  [Substitute the values and subtract.]
Step: 5
So, the change Dennis gets back is $3.
Correct Answer is :   $3
Q15Valerie has 8 one dollar bills. She buys vegetables for $7.75. How much change does she get back?
A. 25 cents
B. 35 cents
C. 35 dollars
D. 25 dollars

Solutions
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Step: 1
The money Valerie has = 8 × $1 = $8
Step: 2
Cost of the vegetables she bought = $7.75
Step: 3
Change she gets back = Money she has - cost of the vegetables
Step: 4
= $8 - $7.75 = $0.25
  [Substitute the values and subtract.]
Step: 5
So, the change Valerie gets back is 25 cents.
  [$0.25 = 25 cents]
Correct Answer is :   25 cents

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