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Table of Contents
Money is used to buy things and to pay for utilities and services. Learning to subtract money is very important. We need to often subtract money when buying or selling things.
See the fact file below for more information on the subtracting money or alternatively, you can download our 28-page Subtracting Money worksheet pack to utilise within the classroom or home environment. This worksheet is broken down by Beginner, intermediate and advanced meaning you can choose the complexity level for your student.
Key Facts & Information
Summary:
- Money is used to buy things and to pay for utilities and services. Money is in the form of bills and coins.
- Coins are pieces of metal and are a form of money. Bills are pieces of paper and are also a form of money.
- Some important coins are penny, nickel, dime, quarter and half dollar.
- 1 penny = 1 cent
- 1 nickel = 5 cents
- 1 dime = 10 cents
- 1 quarter = 25 cents
- 1 half dollar = 50 cents
- Learning to subtract money is very important. We need to often subtract money when buying or selling things.
Money
- Something that we give in order to buy something or to pay for a service. Money is in the form of coins and paper bills. Coins are pieces of metal whereas bills are pieces of paper. Coins come in different shapes, colors and sizes. Each has its own value. Money basically also defines the value of something. We are dealing with money all the time and it is very important for children to understand the concept of money. They should be able to identify, count and make change.
- Some important coins are penny, dime, nickel, quarter and half dollar. Here is a table to review their values:
Subtracting money
- Adding and subtracting money are very important skills. We often go to the grocery store to buy grocery items or sometimes we want to sell something to someone. If only we know money addition and subtraction we can make payments and receive payments correctly. If we do not know this concept we will not be able to make and receive the right payments.
- The first step is that we should be able to identify coins and bills and know their value. Once we are able to identify and count them we should know how to add and subtract them.
- Here we will elaborate money subtractions with the help of examples.
- Before starting subtraction we should know an important conversion:
1 dollar = 100 cents
Example:
- What is 5 dollars minus 25 dollars?
- When both the numbers do not have a decimal part and are presented in dollars then we can subtract them like we subtract normal numbers.
- So here our solution will be given by the following subtraction sentence:
solution = 25 – 5
solution = 20 dollars
Example:
- What is 8 dollars minus 34 dollars?
- When both the numbers do not have a decimal part and are presented in dollars then we can subtract them like we subtract normal numbers.
- So here our solution will be given by the following subtraction sentence:
solution = 34 – 8
solution = 26 dollars
Example:
- What is 2.25 dollars minus 20 dollars?
- In this case we have decimal part in 2.25 dollars. So first we have to write both the numbers in decimal form. 20 dollars will be written as $20.00. After writing both the numbers in decimal form we will perform subtraction. We make sure that we line up the decimals.
solution = 20.00 – 2.25
- We will write them in vertical form:
- Then we perform subtraction as given below:
- So are resulting amount is 17.75 dollars or 17 dollars and 75 cents.
Example:
- What is 3.47 dollars minus 23 dollars?
- In this case also we have decimal part in 3.47 dollars. So first we have to write both the numbers in decimal form. 23 dollars will be written as $23.00. After writing both the numbers in decimal form we will perform subtraction. We make sure that we line up the decimals.
solution = 23.00 – 3.47
- We will write them in vertical form:
- Then we perform subtraction as given below:
- So are resulting amount is 19.53 dollars or 19 dollars and 53 cents.
Example:
- Daniel went to buy a football. He had 30 dollars in his pocket. The football costed him 28.23 dollars. He gave 30 dollars to the cashier. How much money should the cashier return Daniel?
- In this case also we have decimal part in 28.32 dollars. So first we have to write both the numbers in decimal form. 30 dollars will be written as $30.00. After writing both the numbers in decimal form we will perform subtraction. We make sure that we line up the decimals.
solution = 30.00 – 28.23
- We will write them in vertical form:
- Then we perform subtraction as given below:
- So are resulting amount is 1.77 dollars or 1 dollar and 77 cents.
Subtracting Money Worksheets
This is a fantastic bundle which includes everything you need to know about subtracting money across 28 in-depth pages. These are ready-to-use Subtracting Money worksheets that are perfect for teaching students about how to subtract money which is very important. We need to often subtract money when buying or selling things.
Complete List Of Included Worksheets
- Worksheet 1 (Beginner)
- Worksheet 2 (Beginner)
- Worksheet 3 (Beginner)
- Worksheet 4 (Beginner
- Worksheet 5 (Intermediate)
- Worksheet 6 (Intermediate)
- Worksheet 7 (Intermediate)
- Worksheet 8 (Intermediate)
- Worksheet 9 (Advance)
- Worksheet 10 (Advance)
- Worksheet 11 (Advance)
- Worksheet 12 (Advance)
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Link will appear as Subtracting Money Worksheets: https://kidskonnect.com - KidsKonnect, March 29, 2019
Use With Any Curriculum
These worksheets have been specifically designed for use with any international curriculum. You can use these worksheets as-is, or edit them using Google Slides to make them more specific to your own student ability levels and curriculum standards.