Money Class 3 Notes Maths

Money is something we use every day, but have you ever stopped to think about how to write it and work with it in math?

 Imagine you want to buy your favorite snack—how do you know how much it costs?

 In this lesson, we’ll learn how to write money in numbers and words, and how to work with rupees and paise. You’ll also discover how to add, subtract, and even multiply money!

Get ready to become a money master and learn all the cool ways to handle money in your everyday life.

 Let’s start our adventure with money and have some fun!

How to Express Money in Words and Figures?

We can express money both in words and figures. Let's understand this with an example .

• Imagine Aman has thirty-eight rupees and fifty paise.
• When we write this down, we use special symbols.
• We write ₹ for rupees, so ten rupees look like ₹10. 
• To show the fifty paise, we use a dot (.) instead of saying 'and.' So, the total is ₹38.50. 

That's how we write down the cool things we can buy! 
One rupee can be written as ₹1.00 or ₹1. Now, let us read the following amount:
₹3.09  is read as three rupees and nine paise.
₹73.50 is read as seventy-three rupees and fifty paise.
Amounts less than one rupee may be shown either with the symbol ‘p’ of paise or with the symbol of rupees and the dot.

Examples: 
We write
(a) Eight paise as 8 p or ₹ 0.08
(b) Fifty paise as 50 p or ₹ 0.50
(c) Seventy-five paise as 75p or ₹ 0.75

How to Convert Rupees into Paise?

Rule 1: To convert rupees into paise, multiply the amount of rupees by 100.

Examples:
Since, 1 rupee = 100 paise
₹9 = 9 × 100p = 900p
₹48 = 48 × 100p = 4800p

Rule 2:To convert rupees and paise into paise, multiply the amount of rupees by 100 and add it to the number of paise

Examples:

₹15.90 = ₹15 and 90p
= 15 × 100p + 90p
= 1500 p + 90 p = 1590p 
₹65.05 = ₹65 and 5p
= 65 × 100 p + 5 p
= 6500 p + 5 p = 6505p

Edurev Tips:Just remove the dot and you will get the answer in paise.

Old Paise Coins 

How to Convert Paise into Rupees?

Rule:To convert paise into rupees and paise, we separate the ones and tens digits from the given number of paise. The number formed by ones and tens digits gives us the paise and remaining number gives us the rupees.

Examples:

6825p = ₹68.25
5550p = ₹55.50
915p = ₹9.15

Addition of Money

Now, let's understand the method to add money
Step 1: Arrange the amounts to be added in the columns of rupees and paise.
Step 2:Add the paise.
Step 3: Now, add the rupees.

Example 1: Add ₹42.15 and ₹85.74.

Alternate Method:

Thus, ₹ 42.15 + ₹ 85.74 = ₹127.89.

Example 2: Add ₹157.75 and ₹64.87.

Thus, ₹157.75 + ₹64.87 =₹222.62.

Edurev Tips:It is clear from the above example that while adding money, we can carry from ones to tens and from tens to hundreds, etc., in the same way as we did in the case of numbers.

Example 3: Saurav had ₹698.27 with him in his bank and his father gave him thirty-eight rupees and five paise. How much did Saurav have then?

Thus, Saurav had ₹736.32 with him.

Subtraction of Money

Subtraction of money helps us find out how much is left after spending or giving some away.
For example, if you have ₹50 and buy a chocolate for ₹20, the money left is:
₹50 - ₹20 = ₹30

Now, let's understand the method to Subtract money
Step 1: Arrange the bigger amounts above smaller amount in the columns of rupees and paise.
Step 2: Subtract the paise.
Step 3:Subtract the rupees.

Example 4: Subtract ₹43.15 from ₹88.78.

Thus, ₹88.78 – ₹43.15 = ₹45.63
Alternate Method:

Example 5: Subtract ₹49.17 from ₹92.06.

Thus, ₹92.06 – ₹49.17 = ₹42.89.

Example 6: Amina spends ₹110.65 on gifts for her mother. Her sister spends 240 rupees and 7 paise. How much more does she spend than Amina?

Thus, Amina’s sister spends ₹129.42 more than Amina on their mother’s gifts.

Edurev Tips: In the p column, always write paise in two figures, i.e., 7p should be written as 07p.

Multiplication of Money

Now, let's understand the method to multiply money
Step 1: Multiply the rupees and paise, as you do in case of ordinary numbers.
Step 2: Put the point (.) after the second digit from the right.

Example 7: One litre of milk costs ₹65.75. How much would 8 litres of milk cost?

Cost of 1 litre of milk = ` 65.75

Cost of 8 litres of milk = ₹65.75 × 8 = ₹526.00.