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Money and Finance
Money Math
Word Problems with Addition and Subtraction
Below are money word problems that use addition and subtraction. The student will also need to understand the units of United States currency including coins (dimes, nickels, etc.), cents, and dollars.
1) You want to buy a notebook that costs $5. You have $3. How much more money do you need to buy the notebook?
Answer:
$5 - $3 = $2
You need $2 more to buy the notebook.
2) You want to buy two video games. One costs $12 and the other $19. How much money do you need?
Answer:
$12 + $19 = $31
3) Abby wants to buy a new purse for $23.57. She gives the cashier a $20 bill and a $10 bill. How much change does she get back?
Answer:
First figure out how much Abby gave the cashier.
$20 + $10 = $30
Now subtract the cost of the item from the $30.
$30 - $23.57 = $6.43
She will get $6.43 in change.
4) Hector is trying to save $1000. He currently has $747 in his bank account. He just earned another $25 by helping his dad do chores around the house and got $35 for his birthday. How much more does Hector need to save to meet his goal?
Answer:
First calculate how much Hector has.
$747 + $25 + $35 = $807
Now subtract that from his goal to find out how much he still needs.
$1000 - $807 = $193
Hector still needs to save another $193 to reach his goal of $1000.
5) Taylor is looking at buying a red shirt that costs $22.45 and blue shirt that costs $18.75. How much money does Taylor need to by both shirts?
Answer:
$22.45 + $18.75 = $41.20
6) Add up the total value of the following bills and coins: two $20 bills, one $5 bill, two quarters, one dime, three nickels, and eight pennies.
Answer:
First lets add up the bills:
$20 + $20 + $5 = $45
Next, add up the coins in cents:
25 + 25 + 10 + 5 + 5 + 5 + 8 (pennies) = 83 cents
The total is 45 dollars and 83 cents which equals $45.83.
7) Alex wants to buy a new bike for $159.98. He has saved up $107.42. How much more does he need to save to buy the bike?
Answer:
$159.98 - $107.42 = $52.56
Alex needs to save up another $52.56 to buy the bike.
8) The total on the cash register reads $72.85. You give the cashier four $20 bills. How much change do you get back?
Answer:
Four $20 bills is $20 + $20 + $20 + $20 = $80
Subtract the total from the $80 you gave the cashier:
$80 - $72.85 = $7.15
You should get $7.15 in change.
9) The Williams family has the following monthly expenses:
$600 food
$595 rent
$150.51 cell phone
$225.07 utilities
$230.78 clothing
They have an income of $2245.98 each month. How much can they save each month?
Answer:
First add up all the expenses:
$600 + $595 + $150.51 + $225.07 + $230.78 = $1801.36
Now subtract the expenses from the income:
$2245.98 - $1801.36 = $444.62
They can save $444.62 each month.
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Note: This information is not to be used for individual legal, tax, or investment advice. You should always contact a professional financial or tax advisor before making financial decisions.
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Money and Finance