MO1 Money

Different countries use different symbols($, £,€) and names(dollar, Rupiah, Ringgit).

     

DOLLARS AND CENTS

Let’s use the Singapore Currency: dollar and cent ($ and ¢)
               1 dollar = 100 cents -> $1 = 100 ¢

Money can be used as

  (1)  A measure of value

      My pen costs $1.20, the bus fare is $1.20 for adults

  (2)  A means of payment

I paid $25 for the football.

The total bill for the grocery is $45.20

Twelve dollars and fifty cents is written as:

       

CONVERSION BETWEEN DOLLARS AND CENTS

                        $1 = 100¢                           $10 = 1000¢ (100 x 10)

                        -> 100¢ = $1

                        ->   10¢ = $0.10 (1 divide by 10)

                        ->     1¢ = $0.01 (1 divide by 100)

                        ->     1¢ = $ 1/100

=> Convert cents to dollars: divide (÷) by 100

=> Convert dollars to cents: multiply (x) by 100

Example

Write 540¢ as dollars and cents

Method

Step1: ‘Divide’ numbers by 100 => shift ‘decimal’ by 2 to left.

            

Step2: Put ‘$’ sign at start of number

            $5.40

Example

Write $23.45 as cents

Method

Step1: Multiply numbers by 100

            23.45 x 100 = 2345

Step2: Write the cents symbol at end of number

            2345¢

COMPARING AMOUNT OF MONEY

Expensive/More Expensive                             Cheap/Cheaper

Most Expensive                                                           Cheapest

CHANGE/SAVING

Example

Mary bought a pair of shoes for $30. She gave a $50 notes to the cashier. What is the change she receives from the cashier?

  $50 - $30 = $20

Mary receives a change of $20.

Example

Judy has $2 for her pocket money. She spent $120. What is her savings?

            $2 - $1.20 = 80 cents

Judy’s saving is 80cents.

          ~~~~ END ~~~~~ :)