2nd Class Mathematics Money Money

Money

Category : 2nd Class

LEARNING OBJECTIVES

This lesson will help you to

  • identify Indian currency notes and coins
  • learn to add money
  • learn to transact money
  • express money in figures and words
  • express rupees in unit of paise and paise in unit

 

QUICK CONCEPT REVIEW

Swati went to a gift shop. She liked a teddy bear how she can get the teddy bear from the gift shop.

Swati has to give money to the shopkeeper to

Get the teddy bear.

 

Currency

We need money to buy things. Money can be in form or a note or a coin.

In India, currency is used in the form of rupees and

Symbol of rupee is Rs. and paise is 'p'.

1 rupee = 100 Paise

Or 1 Rs. = 100 p.

 

Historical preview

  • The word rupee is derived from the Sanskrit word rupyakam, meaning a silver cooin.
  • Udaya is creator of the rupee symbol. The symbol (Rs.) is a combination of the Latin letter “R” and Devanagri letter “Rs.”
  • After Independence, the first coin was introduced in 1950.              

    Notes                            Coins

 

Expressing money

  • How to express or write money together when we take rupees and paise separately.
  • We write rupees as “”and paise as 'p'.
  • We use a point or dot (.) to separate rupees and paise.

For example.

Sonu purchased a toy car in 125 rupees and 75 paise.

How can we express this money?

We can express it as Rs.125.75.

  • We can write 10 rupees as 10.00 as it has no paise.

 

Exchanging Money

Let us understand this with the help of an example.

Suppose Rohit went to purchase a book of worth 100 rupees. He had money in Rs. 50 and Rs. 10 notes. How many notes of Rs. 50 and Rs. 10 he has to pay to purchase the book?

First, we have to know how to do the division of money.

Let us do the division of 100 rupees in different notes.

Rs. 50 note can further be divided into other notes. Rs. 50 is equivalent to five Rs. 10 notes. Also. Rs. 50 is equivalent to two Rs. 20 notes and one Rs. 10 note.

To purchase a book of worth Rs. 100, Rohit has to pay one Rs. 50 note and five Rs. 10 notes or two Rs. 50 notes. Can you tell in how many number of ways you can Purchase a lead pencil of worth Rs. 12? If you have each of the following type of coins with you.

There can be total 6 number of ways in which you can purchase a lead pencil of Rs. 12.

 

Addition and Subtraction of Money

Addition

Let us take an example.

Monty bought a packet of crayons Rs.25mdan ice-cream for Rs. 12. How much money did he spent?

  

Here, you can simply do the addition.

He spent Rs. 37.

Let us take another example.

Add 25 rupees 45 paise and 32 rupees 25 paise. In this case, we have to add rupees and paise separately.

Step 1. First add the paise

Step 2. Then add rupees.

\begin{align}

  & \,\,\,\,\,\,\text{2}\,\,\text{5 rupees}~~~~~\text{4}\,\,\text{5 paise} \\

 & +\text{ }\underline{\text{3}\,\,\text{2 rupees}~~~~~\text{2}\,\,\,\text{5 paise}} \\

 & \,\,\,\,\,\,\underline{\text{5}\,\,\text{7 rupees}~~~~~\text{7}\,\,0\text{ paise}} \\

\end{align}

So, you will get 57 rupees 70 paise or Rs. 57.70

 

SUBTRACTION

Let us take an example.

Aditi went to market. She had Rs. 75. She bought a geometry box of Rs. 32. How much rupees she is left with?

Aditi had Rs. 75. She purchased a geometry box of Rs. 32. So, we have to subtract Rs.32 from Rs. 75 to get the money Aditi had.

\begin{align}

  & \,\,\,\,\,\text{7}\,\,\text{5 rupees} \\

 & -\,\,\underline{\text{3}\,\,\text{2 rupees}} \\

 & \,\,\,\,\,\underline{\text{4}\,\,\text{3 rupees}} \\

\end{align}

 

She is left with Rs. 43.

 

Let us take another example.

Can you subtract 25 rupees 30 paise from 45 rupees 40 paise.

It is same like addtion. Subtract the paise first. Then, subtract rupees.

\begin{align}

  & \,\,\,\,\,\,\text{4}\,\,\text{5 rupees}~~~~\text{4}\,\,0\text{ paise} \\

 & -\text{ }\underline{\text{2}\,\,\text{5 rupees}~~~~\text{3}\,\,0\text{ paise}} \\

 & \,\,\,\,\,\,\underline{\text{2}\,\,0\text{ rupees}~~~~\text{1}\,\,0\text{ paise}} \\

\end{align}

 

So, you will get 20 rupees 10 paise or Rs. 20.10

CONVERSION OF RUPEES AND PAISE

Let us learn how to convert rupees into unit of paise and paise in unit of rupees.

We have learnt that Rs. 1 = 100 paise

Therefore, to convert rupees to paise multiply amount in rupees by 100.

For example:

Rs. 5 \[=\text{ 5 }\times \text{ 1}00\text{ p }=\text{ 5}00\text{ p}\]

and

Rs. 12.50 \[=\text{ 12}.\text{5}0\text{ }\times \text{ 1}00\text{ }=\text{ 125}0\text{ p}\]

For conversion of paise into rupees, divide amount in paise into rupees.

For example:

1635 paise = Rs.\[\text{1635 }\div \text{ 1}00\] = Rs. 16.35

 

Amazing Facts

  • On each bank note, the amount is written in 17 different languages of India.
  • All notes carry an imprint of something Indian. Like Rs. 20 note carries the imprint of the Andaman Islands.
  • Before independence, 5,000 and 10,000 rupees currency notes existed.

 

Real Life Examples

  • Money is kept in banks for safe-keeping. It can be withdrawn from ATM, when it is needed.
  • Purchase of groceries every month is a routine expenditure and is a necessity as you need food to eat.

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