Money
In India, the currency we use is called Rupees(₹), and smaller units of money are called Paise. Just like you use numbers in math to count objects, we use rupees and paise to count money. Let’s learn how they work!
1. What are Rupees?
– Rupees are the main unit of money in India.
– We write rupees using the symbol ₹. For example, if you have 5 rupees, you write it as ₹5.
– Rupees are used to buy bigger items, like books, toys, or snacks.
2. What are Paise?
– Paise are smaller units of money.
– There are 100 paise in 1 rupee. So, if you collect 100 paise, you get 1 rupee.
– Paise are used when you need to pay less than 1 rupee.
3. Conversion between Rupees and Paise**
– Since 100 paise = 1 rupee, if you have 50 paise, it is written as 0.50 rupees or ₹0.50.
– To convert rupees into paise, multiply by 100. For example, ₹3 = 300 paise.
– To convert paise into rupees, divide by 100. For example, 250 paise = ₹2.50.
4. Examples:
– If you have ₹2 and 50 paise, you can write it as ₹2.50.
– If you have 75 paise, it is less than 1 rupee, and you write it as ₹0.75.
Writing in words and figures
1. Writing Money in Figures
When writing money in figures, we use two units:
– Rupees (₹): The larger unit.
– Paise: The smaller unit (there are 100 paise in 1 rupee).
To write money in figures:
– If you only have rupees, write the amount with the rupee symbol. For example, ₹5, ₹20, or ₹100.
– If you have both rupees and paise, write the rupees, then a decimal point (.), followed by the paise. For example, ₹5.50 (5 rupees and 50 paise), ₹12.75 (12 rupees and 75 paise).
Examples:
– ₹8.20 means 8 rupees and 20 paise.
– ₹15.75 means 15 rupees and 75 paise.
2. Writing Money in Words
When writing money in words:
– Start by writing the rupees part.
– If there are paise, write “and” followed by the paise part.
– You can say “rupees” at the beginning and “paise” at the end.
Examples:
– ₹5 = Five rupees
– ₹12.50 = Twelve rupees and fifty paise
– ₹18.75 = Eighteen rupees and seventy-five paise
3. Steps to Write Money in Figures and Words
1. For Rupees Only:
– If the amount is only in rupees, write the number and add “rupees.”
– For example, ₹20 = “Twenty rupees.”
2. For Rupees and Paise:
– If the amount has both rupees and paise, write the rupees first, then “and,” followed by the paise.
– For example, ₹13.45 = “Thirteen rupees and forty-five paise.”
Conversion of rupees into paise
Conversion of Rupees into Paise
1. Understanding the Units:
– Rupees (₹): This is the money we use every day. For example, ₹1, ₹5, ₹10, etc.
– Paise: This is a smaller unit of money. Just like how 100 centimeters make 1 meter, 100 paise make 1 rupee.
2. How to Convert Rupees into Paise:
– To convert rupees into paise, you need to multiply the number of rupees by 100.
3. Examples:
– Example 1: If you have ₹2, how many paise do you have?
– Multiply ₹2 by 100.
– ₹2 × 100 = 200 paise.
– Example 2: If you have ₹5, how many paise do you have?
– Multiply ₹5 by 100.
– ₹5 × 100 = 500 paise.
4. Summary:
– So, to change rupees into paise, just remember to multiply by 100.
And that’s it! Converting rupees into paise is as easy as multiplying by 100.
Conversion of paise into rupees
1. Understanding Paise and Rupees:
– Rupee is the currency unit used in India.
– Paise is a smaller unit of the rupee.
– 100 paise = 1 rupee.
2. How to Convert Paise to Rupees:
Since 100 paise make 1 rupee, to convert paise to rupees, divide the number of paise by 100.
Example:
– Example 1: Convert 150 paise to rupees.
150 paise ÷ 100 = 1.50 rupees
So, 150 paise = ₹1.50.
Example 2: Convert 75 paise to rupees.
75 paise ÷ 100 = 0.75 rupees
So, 75 paise = ₹0.75.
Easy Trick:
– Move the decimal point two places to the left to convert paise to rupees.
– Example: 500 paise becomes ₹5.00 (move the decimal two places to the left).
Adding of money
Adding money is similar to adding regular numbers, but you need to pay attention to rupees (₹) and paise (p).
Steps to Add Money:
1. Write rupees and paise separately:
– Place the rupees (₹) and paise (p) in their correct columns.
– Always keep two digits for paise (e.g., 5 paise becomes 05 paise).
2. Add paise first:
– Add the paise amounts.
– If the total paise is 100 or more, convert 100 paise into 1 rupee and add it to the rupees column.
3. Add rupees:
– Add the rupee amounts and include any extra rupee from the paise addition.
Example 1:
Add ₹23.50 and ₹12.75
So, ₹23.50 + ₹12.75 = ₹36.25.
Example 2:
Add ₹45.80 and ₹32.45
So, ₹45.80 + ₹32.45 = ₹79.25.
Important Points:
– 100 paise = 1 rupee.
– Add paise first and carry over extra rupees if the paise is 100 or more.
Subtraction of money
Subtracting money is like subtracting regular numbers, but we need to be careful with rupees (₹) and paise (p).
Steps to Subtract Money:
1. Write rupees and paise separately:
– Write rupees and paise in columns, just like you do with numbers.
– Always keep two digits for paise (e.g., 5 paise should be written as 05 paise).
2. Subtract paise first:
– Subtract the paise amounts.
– If you need to subtract a larger paise value from a smaller one, borrow 1 rupee from the rupees column (1 rupee = 100 paise).
3. Subtract rupees:
– After subtracting the paise, subtract the rupee values.
Example 1:
Subtract ₹56.75 from ₹89.50
So, ₹89.50 – ₹56.75 = **₹32.75**.
Example 2:
Subtract ₹42.35 from ₹65.90**
So, ₹65.90 – ₹42.35 = **₹23.55**.
Important Points:
– 100 paise = 1 rupee.
– Borrow 1 rupee (100 paise) from the rupees column if you need to subtract a larger paise value from a smaller one.
Multiplication of money
Multiplying money is similar to multiplying regular numbers, but you need to remember that you are dealing with rupees (₹) and paise (p).
Steps to Multiply Money:
1. Ignore the decimal initially:
– Convert the money into paise to make the multiplication easier (remember 1 rupee = 100 paise).
– For example, ₹5.50 becomes 550 paise, and ₹3.25 becomes 325 paise.
2. Multiply the numbers:
– Multiply the converted paise by the other number (e.g., 2 or 3).
3. Convert back to rupees and paise:
– After multiplying, divide the result by 100 to convert the answer back to rupees.
Example 1:
Multiply ₹15.75 by 3
So, ₹15.75 × 3 = ₹47.25.
Example 2:
Multiply ₹6.50 by 4
So, ₹6.50 × 4 = ₹26.00.
Important Points:
– Convert rupees and paise into paise first by removing the decimal.
– Multiply the paise, then divide by 100 to get rupees and paise.
– Always put back the decimal point after the multiplication.
Word problem
Lily went to a stationery store with ₹100. She bought 3 notebooks for ₹6 each, 2 pens for ₹4 each, and a pencil for ₹3.
1. How much did she spend on the notebooks alone?
2. How much money did she spend in total?
3. How much money does Lily have left after making her purchases?
Solution:
1. Multiplication (Cost of notebooks):
3 x 6 = 18
Lily spent ₹18 on notebooks.
2. Addition (Total cost of all items):
First, find the total for pens:
2 x 4 = 8
Now, add the costs of the notebooks, pens, and pencil:
18 + 8 + 3 = 29
Lily spent ₹29 in total.
3. Subtraction (Money left):
100 – 29 = 71
Lily has ₹71 left.
This problem combines all three operations: addition, subtraction, and multiplication.