Operations on Money

**Category : **3rd Class

Whenever money is paid against the cost of two or more things, the value of total money that have to be paid is obtained by addition of the cost of the purchased items or things.

**The following steps are used for the addition of money:**

**Step 1:** Arrange the money vertically, rupees under rupees column and paise under paise column.

**Step 2:** Add the money from right or paise.

**Step 3:** If carry is generated then add the carry to the next addition.

**Step 4:** The resulting value of money is their addition.

For example Addition of Rs 18 and 20 paise and Rs 20 and 40 paise is given below.

Rupess | Paise | ||

18 | . | 20 | |

+ 20 | . | 80 | = Rs 39.00. |

39 | . | 00 |

**Find the total cost if the cost of 12 kg rice is Rs 450 and 50 p, 5 l of vegetable oil is Rs 454 and 75 p and the cost of one piece of coconut is Rs 30 and 50 p.**

(a) Rs 935 and 75 paise

(b) Rs 936 and 75 paise

(c) Rs 900 and 75 paise

(d) Rs 845 and 65 paise

(e) None of these

** **

**Answer (a)**

**Explanation **

Rupees | Paise | ||

450 | 50 | ||

454 | 75 | ||

30 | 50 | = Rs 935 and 75 paise. | |

935 | 75 |

**Subtraction of Money**

**The following steps are used for subtraction of money:**

**Step 1:** Arrange the money vertically, rupees under rupees column and paise under paise column.

**Step 2:** Subtract the money starting from right or paise.

**Step 3:** Take borrow if required.

**If the cost of a shirt is Rs 340 and shopkeeper gives discount of Rs 45.50 on the single piece of shirt, then the actual amount paid to the shopkeeper is:**

(a) Rs 835 and 75 p

(b) Rs 294 and 50 p

(c) Rs 200 and 85 p

(d) Rs 340 and 50

(e) None of these

** **

**Answer (b)**

**Explanation**

The cost of the shirt = Rs 340 and deducted or discounted amount is Rs 45.50. Hence, the actual amount paid to the shopkeeper Rupees Paise

Rupees | Paise | |||

340 | 00 | |||

= Rs 340 ? Rs 45.50 | ? 45 | 50 | = Rs 294 and 50 paise. | |

294 | 50 |

**The cost of one kg of apple is Rs 45.50 and one kg of orange is Rs 56.75. If Rs 500 is paid against the cost of both the fruits, then find the money returned by the shopkeeper to the customer.**

(a) Rs 397.75

(b) Rs 294.50

(c) Rs 397.85

(d) All of these

(e) None of these

** **

**Answer (a)**

**Explanation**

Total amount paid against the cost of apples and oranges

Rupees | Paise | |

45 | 50 | |

= Rs 45.50+Rs 56.75 | = 56 | 75 |

102 | 25 |

= Rs 102. 25 hence, shopkeeper returns the amount of

Rupees | Paise | |

500 | 00 | |

? 102 | 25 | = Rs 397.75 . |

397 | 75 |

**What will be the total amount of three chairs and two tables if the cost of one chair and one table Rs 230 and Rs 330 respectively?**

(a) Rs 1080

(b) Rs 1020

(c) Rs 1090

(d) Rs 1350

(e) All of these

**Answer (b)**

**Explanation:**

The cost of three chairs = Rs 230 + Rs 230 + Rs 230 = Rs 690 the cost of two tables = Rs 330 + Rs 330 = Rs 660.

Hence, the cost of three chairs and two tables = Rs 690 + Rs 660 = Rs 1350.

**Multiplication of Money**

**The following steps are used for the multiplication of money:**

**Step 1: ** Arrange the money vertically.

**Step 2:** Multiply by simple multiplication method from right.

**Step 3:** If carry is generated, add the carry to the next product.

**Step 4: ** The product of the money is obtained in rupees and paise.

**Twelve woman participate in a kitty party and every one contributes Rs 150.50. Total amount collected by 12 members is:**

(a) Rs 1500

(b) Rs 1800

(c) Rs 1806

(d) Rs 3612

(e) None of these

** **

**Answer (c)**

**Explanation:**

Rupees | Paise |

150 | 50x12 |

Explanation 301 1505 | 00 0 |

1806 | 00 |

= Rs 1806.

**Division of Money**

** **

**The following steps are used for the division of money: **

**Step 1: ** Arrange the numbers in division.

**Step 2: ** Divide the numbers by simple division method.

**Step 3: ** Put point or dot in quotient whenever it comes in the process of division.

**Step 4:** Quotient is the resulting division of money.

**Step 5:** Express the quotient in rupees and paise.

**The cost of construction of 5 fly overs is calculated by an engineer as Rs 550 crores. What is the construction cost of one fly over?**

(a) Rs 110 crores

(b) Rs 180 crores

(c) Rs 206 crores

(d) Rs 275 crores

(e) None of these

** **

**Answer (a)**

Constructing cost of one fly over = Constructing cost of 5 fly overs Total number of fly overs = Rs 550 crore 5 = Rs 110 crores.

**The cost of one towel is Rs 45.60 and the cost of one soap is one fourth of the cost of towel. What is the cost of the soap?**

(a) Rs 22

(b) Rs 22.80

(c) Rs 22.90

(d) Rs 11.40

(e) None of these

** **

**Answer (d)**

**Explanation **Cost of a soap = cost of one fourth of the cost of towel Hence, the cost of the soap

Therefore, option (b) is correct and rest of the options is incorrect.

**The cost of an iron pipe is Rs 56.75 per metre. If a man buys one pipe of 12 metres, then find the amount paid against the cost of the pipe.**

(a) Rs 908

(b) Rs 922.80

(c) Rs 709.37

(d) Rs 681

(e) None of these

** **

**Answer (d) **

**Explanation: **The cost of 12 meters of iron pipe

**Peter had Rs 55. He bought a book for Rs 24.50. How much money he has now?**

(a) Rs 30.50

(b) Rs 30.75

(c) Rs 30.90

(d) Rs 34.50

(e) None of these

** **

**Answer (a)**

**Explanation **

Amount Peter had | = Rs 55.00 |

Amount spent on book | = Rs 24.50 |

Amount he has now | = Rs 30.50 |

**A woman had Rs 1,200. She bought grocery for Rs 665.75, vegetables for Rs 75.80, sweets for Rs 112.20 and spent Rs 25.00 on conveyance. How much money she has now?**

(a) Rs 322.50

(b) Rs 321.25

(c) Rs 309.90

(d) Rs 878 .75

(e) All of these

** **

**Answer (b)**

**Explanation** Amount spent = Rs 665.75 + Rs 75.80 + Rs 112.20 + Rs 25.00 = Rs 878.75 Amount woman had=? 1,200.00 – Rs 878.75 = Rs 321.25

**Codi has 50 numbers of 10 paise coins and 20 numbers of 50 paise coins. Find the total amount.**

(a) Rs 10

(b) Rs 12

(c) Rs 15

(d) Rs 20

(e) None of these

** **

**Answer (c)**

Hence, the total amount

**It A has Rs 124 and B has 13 times greater than the amount A has. Find the total amount B has.**

(a) Rs 1612

(b) Rs 1219

(c) Rs 1520

(d) Rs 1619

(e) None of these

** **

**Answer (a)**

The amount B has

**Peter has Rs 34.50 and John has Rs 655.50. How many times the John’s amount in of Peter's amount?**

(a) 10

(b) 19

(c) 15

(d) 18

(e) None of these

** **

**Answers (b)**

**Explanation **

**The cost of three dozens of bananas is Rs 50. What is the cost of one banana?**

(a) Rs 1 and 39 paise

(b) Rs 1 and 30 paise

(c) Rs 1 and 20 P3156

(d) Rs 3 and 50 P31

(e) None of these

** **

**Answer (a)**

**Explanation**

**The cost of ** bananas = Rs 50. Hence, the cost of one banana

**There are twelve pencils in a pencil box, if the cost of pencil box is Rs 42 then find the cost of each pencil in the box?**

(a) Rs 2 and 40 paise

(b) Rs3 and 50 paise

(c) Rs 2and 20 paise

(d) Rs 4 and 20 paise

(e) None of these

** **

**Answer (b)**

**Explanation**

The cost of 12 pencils =Rs 42. Hence, the cost of one pencil

**Peter has 23 number of 25 paise coins, 4 number of 50 paise and one Rs 10 note. Find the total amount?**

(a) Rs 17.45

(b) Rs 13.40

(c) Rs 17.75

(d) Rs 17.85

(e) None of these

** **

**Answer (c)**

**Explanations **

23 coins of 25 paise paise 4 coins of 50 paise = 200 paise Hence, the total amount = Rs 5.75 +Rs 2+ Rs 10 = Rs 17.75.

**How many coins are obtained by converting 112 into 20 paise coins? **

(a) 560

(b) 540

(c) 570

(d) 550

(e) None of these

** **

**Answer (a) **

**Explanations: **paise. Hence, the total number of coins of 20 paise

**Find the number of coins, if Rs 500 is converted into coins of 25 paise?**

(a) 1800

(b) 2000

(c) 1900

(d) 4000

(e) None of these

** **

**Answer (b)**

**Explanation:**

p. Hence, total number of coins of

- Indian currency is rupee (Rs).
- Money deals in the form of rupees and Paise.
- One rupee = 100 paise.
- Rupees are converted into paise by multiplying 100.
- Paise are converted into rupees by dividing 100.
- Addition of rupees and paise is obtained by adding paise first.
- If carry is generated on adding paise then it is added to the sum of one’s digits of rupees.
- Subtraction of rupees and paise by conversion method is obtained by converting rupees into paise.
- Subtraction of rupees and paise can be obtained by arranging the rupees and paise vertically and subtracting them from right.

- Numismatics is the scientific study of money.
- Babylonians were developed the earliest system of economics.
- Coins of silver and gold were used for money in ancient times.
- Information on coins and notes are called denomination of money.
- The word rupee comes form Sanskrit word rupya.
- First Indian coin was introduced by Sher Shah Suri.

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