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Multiplying Money Worksheets

These printables allow students to review and practice finding the products of a money amount and a whole number. (example: $3.65 x 7)

Multiplying Money Worksheets

Money Times 1-Digit Worksheets

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Multi-Digit Multiplication Worksheet Generator

Create your own multiplication worksheets! You choose the number of digits in the factors. Also tell if you would like to include money or word problems.

We invite you to browse our massive (and still growing!) collection of multi-digit multiplication worksheets.

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Money Multiplication Riddle (Printable)

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Money Multiplication Worksheets

(randomly generated).

Welcome to our Money Multiplication Worksheets area.

Here you will find our free worksheet generator for generating your own multiplication sheets involving multiplying different money amounts by up to 3 digits.

If you are looking to create your own custom-made multiplication worksheets involving money then look no further!

For full functionality of this site it is necessary to enable JavaScript.

Here are the instructions how to enable JavaScript in your web browser .

Using the random sheet generator will allow you to:

  • choose the number range and number of questions you wish the worksheet to have;
  • print or save your worksheet and a corresponding answer sheet;
  • choose your own title and instructions for completing the sheet - great for homework!

For optimal printing, please set your margins to zero on your print setup options.

To save your worksheets, select Print to PDF in the printing options.

If you have any problems with our Random Generator, please let us know using the Contact Us link at the top of each page.

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Please note that our generated worksheets may have problems displaying correctly on some mobile devices.

This should not affect the printing of the sheets which should display correctly.

Money Multiplication Worksheets Generator

Here is our random worksheet generator for multiplication worksheets involving money.

You can generate a range of multiplication worksheets ranging from $1 to $100,000 by up to 3 digits.

Choose the currency symbol you want to use: the default is $, but you can also choose £ and €

Using this generator will let you create your own worksheets for:

  • Multiplying money amounts either with or without decimals by up to 3 digits;

To start creating your sheet, choose an option from the Number values box below.

4 Steps to Your Worksheets...

  • Choose your money amount and currency
  • Choose if you want to use decimal values or not
  • Choose how many digits you want the multiplier to be
  • Choose the number of questions
  • View your sheet
  • Print your sheet

(Optional) Give your worksheet a title.

(Optional) Write out any instructions to go at the top of the sheet.

Money Amount:

Use decimal values:, multiplier:, number of questions:.

Your worksheet will appear below.

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More Recommended Worksheets

Here are some of our other related worksheets you might want to look at.

Single & Multi-Digit Multiplication Generator

As well as our money multiplication worksheets on this page, we also have a single digit and multi-digit multiplication generator.

The worksheets created are similar to the ones on this page, but are not related to money.

  • Single Digit Multiplication Worksheets Generator
  • Multi Digit Multiplication Generator

More Randomly Generated Money Worksheets

Here you will find our random generator to create your very own money worksheets.

You can choose what value you wish go up to, and whether you want to add or subtract money amounts.

You can choose the number of questions you would like, as well as printing off answer sheets.

  • Long Division with Money (randomly generated)

This generator will create money addition and subtraction fact problems set out horizontally.

  • Money (Addition and Subtraction) Worksheets (randomly generated)

The adding money worksheet generator below will create a range of money problems in columns to add up in a range of currencies.

  • Adding Money Worksheets

This generator will create money subtraction worksheets set out in columns.

  • Subtracting Money Worksheets (random)

This money worksheet generator below will create a range of money problems in columns to add and subtract in a range of currencies.

  • Adding and Subtracting Money Worksheets

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Graded Money Worksheets

As well as randomly generated money worksheets, we also have a wide range of graded money worksheets.

Our worksheets include:

  • Sets of graded worksheets for each grade;
  • Money games and riddles
  • Money puzzles and challenges
  • All Money Printable Worksheets

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Grade 5 - Number and Operations in Base Ten

Standard 5.NBT.B.7 - Solve multiplication word problems with money.

Included Skills:

Add, subtract, multiply, and divide decimals to hundredths, using concrete models or drawings and strategies based on place value, properties of operations, and/or the relationship between addition and subtraction; relate the strategy to a written method and explain the reasoning used.

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Math Workbooks for Grade 4

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Money word problems

Word problem worksheets: money notation.

Below are three versions of our grade 4 math worksheet with word problems involving the addition, subtraction, multiplication and division of amounts using money notation ($x.xx).  Calculations are kept simple to emphasize the underlying meaning of the questions.  Some problems require more than one step.  These worksheets are pdf files .

multiplication money problem solving

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Money Word Problems (Addition, Subtraction, Multiplication & Division)

Related Topics & Worksheets: Money Word Problems

Solve the following word problems. Elizabeth has $1 125 in savings. Her brother has four times as much savings. How much money do they have altogether? $ Each bottle of fruit juice costs $4.50. During a sale, there is a discount of $3.00 for 10 bottles. Silvia bought 30 bottles during the sale. How much does Silvia have to pay for the 30 bottles of fruit juice? $ An orange costs $0.90 each, while an apple costs $1.20 each. Ruth bought 8 oranges and 15 apples. What is the total price that Ruth has to pay for the fruits? $ David and his wife saved $12 000 last year. If David saved 3 times as much as his wife, how much did he save per month (if he saves the same amount each month)? $ Ivan bought 50 toys for a total price of $160. If he sold each toy for $4.80, what is the total profit that Ivan made? $ A badminton racket and a T-shirt costs $75. If the badminton racket costs twice as much as the T-shirt, how much is the price of the T-shirt? $ Horton’s monthly salary is $2 200. He spends $500 for rent, $625 to repay a car loan, $425 for food and $300 for miscellaneous expenses each month. The remainder is his savings. What is the total that Horton saved for one year? $

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Word Problems on Multiplying Money

Read the questions given in the word problems on multiplying money. We need to understand the statement and multiply the amount of money as ordinary numbers with two digit numbers.

1. Max buys 25 books at the rate of $ 252.55 per book. How much did he spend?

Cost of one book = $ 252.55

Number of books Max bought = 25

Total amount of money he spent = $ 252.55 × 25 = $ 6313.75

2.  Brad earns $ 125 per hour. He works 8 hours a day. How much does he earn each day?

Amount of money Brad earns per hour = $ 125

Number of hours he works a day = 8

Total amount of money he earns each day = $ 125 × 8 = $ 1000

3. Sharon income is $ 6250 per month. How much does she earn per year?

Amount of money Sharon’s income per month = $ 6250

Number of months in a year = 12

Total amount of money she earns per year = $ 6250 × 12 = $ 75000

4. Maria buys 15 sarees. Each saree cost $ 525.50 How much does she spend?

Cost of a saree = $ 525.50

Number of sarees Maria bought = 15

Total amount of money she spend = $ 525.50 × 15 = $ 7882.50

Word Problems on Multiplying Money

5.  Peter bought 3 kg apples and 5 kg oranges. If the cost of 1 kg of apples is $ 98.00 and 1 kg of oranges is $ 54.00. How much money did Peter pay to the shopkeeper?

Cost of 1 kg of apples = $98.00

Cost of 3 kg of apples = $98.00 × 3 = $294.00

Cost of 1 kg of oranges = $54.00

Cost of 5 kg of oranges = $54.00 × 5 = $270.00

Total money paid by Peter = $294.00 + $270.00 = $564.00

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Multiplication Word Problems Worksheets

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Word Problems with Multiplication and Division




























































For Teachers

Money word problems worksheets, money word problems for elementary students, money word problems for upper elementary and middle school students, about the author, peter brown.

Money Prodigy

16 Money Word Problems with Solutions and Answers (By Grade)

By: Author Amanda L. Grossman

Posted on Last updated: January 9, 2024

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Develop students’ money life skills plus work on math concepts with real-life money word problems with solutions and answers.

Bell ringers, math centers, classroom money pickles, daily warm-ups…you can sneak these money word problems with solutions and answers into your student’s day in lots of different ways.

group of high school students with teacher around table working, text overlay

Or, make them the highlight of your 30-minute personal finance session – use whatever time you’ve got.  

The exciting thing about using money word problems and consumer math worksheets is you’re giving your students the chance to practice both math AND money life skills they’ll be able to use out in the wilds of the “real world” (like in the produce section of the super market).

Awesome! Let’s dig in.

Money Word Problems with Solutions and Answers

Money word problems can begin as early as 2 nd grade with simple addition and subtraction.

And they get increasingly more complex – two steps, then multiple steps, and more complex thinking – as students go through middle school and then high school.

We’ll start with the easier money word problems, and move into more complex ones, by grade.

Psst: do your students need a refresher on counting money or identifying coins? Here are free 2 nd grade money worksheets , 14 money counting games , and a bunch of free consumer math worksheets .

Money Word Problems Grade 3

While there’s no mention of money for Grade 3 Common Core Standards , you can relate several of the math standards to money word problems.

Teaching students math AND money life skills at the same time? #winning.

For example:

  • Number and Operations in Base Ten (CCSS.MATH.CONTENT.3.NBT.A.2) : Fluently add and subtract within 1000 using strategies and algorithms based on place value, properties of operations, and/or the relationship between addition and subtraction.
  • Operations and Algebraic Thinking (CCSS.MATH.CONTENT.3.OA.D.8) : Solve two-step word problems using the four operations. Represent these problems using equations with a letter standing for the unknown quantity. Assess the reasonableness of answers using mental computation and estimation strategies including rounding.

Here are some worksheets with money word problems to help your students practice these concepts.

1. Money Task Cards + Scavenger Hunt

This free set of money task cards each has mostly one-step money word problems on them.

You can cut them out, and do a scavenger hunt around the room to get students up and moving. OR, she has lots of other ideas for how to use them. There’s also a worksheet asking students to come up with their own money word problem using specific amounts.

Very helpful!

2. Money Shopping Word Problems

Scroll down on this page, and you’ll find a nice collection of shopping money word problem worksheets for free.

Students will work through:

  • Adding up the cost of ordered items from a menu
  • Calculating their change after an order
  • Calculating sales tax

They’ve also got some good free worksheets on Wage word problems, simple and compound interest calculation word problems, etc.

Hint: there’s worksheets in here for older grades, too.

Two-Step Money Word Problems for 3 rd Graders

You likely saw above that third graders are supposed to be doing two-step word problems.

Two-step money word problems require two calculations to complete them. They’re not entirely straightforward – your students will need to think things through a bit more before they can come up with the correct answer.

3. Money Within $100 Word Problems

Get your set of 5 free, two-step money word problems within $100. Each word problem has space to draw and work through the problem.

4. Simple Two-Step Money Word Problems

Here’s a three-page set of two-step money word problems that have students add up the total amount of spending, then figure out how much change they should get back.

There are spaces for students to work out each of the two steps.

Hint: this is a free set of money word problems, but you’ll need a free Teachers Pay Teachers account to access it.

5. August Problem Solving Path Worksheets

I just love the real-world approach this packet of word problems takes.

She includes a math journal for each problem (there is one money word problem, and the rest are word problems involving other common core standards for 3 rd graders), and a rubric on the math journal sheet so that you can easily grade based on your student’s work.

There’s both a US and a UK version.

6. Two Simple Two-Step Money Word Problems

And here’s another set of two-step money word problems for 2 nd -4 th graders. Again, kids are asked to add up the total cost of items purchased, then calculate how much change they would get back.

7. Can I Buy It? Word Problems

If you’re looking for an easier set of two-step word problems for your bunch of students, then you should check these out.

8. Mix of One-Step and Two-Step Money Word Problems

Here’s a simple worksheet that has a mix of both two-step and one-step money word problems for 3 rd graders. The theme is around ordering food items.

Money Word Problems with Solutions and Answers Grade 5

There are no Common Core State Standards for Mathematics (CCSSM) specifically for money math at the 5th grade level.

However, you can relate the math concepts in the CCSSM to real-life money scenarios with these money word problems.

  • Number and Operations in Base Ten (CCSS.MATH.CONTENT.5.NBT.B.5 – B.7) : Students should be able to perform operations with multi-digit whole numbers and decimals to the hundredths (which is an essential skill when working with money).
  • Operations and Algebraic Thinking (CCSS.MATH.CONTENT.5.OA.A.2) : Students should be able to understand and write expressions and equations and solve real-world and mathematical problems using addition, subtraction, multiplication, and division.

1. Bertie’s Big Win

Students are tasked with figuring out how much money Bertie won through the lottery, based on the fractional amounts he spent on various things (like a house, a trip to space, a luxury yacht, etc.).

Answer sheet is included, which is good – because this is a tough one!

Hint: they say on the website that the 4 th grade versions of his money word problems are a bit easier than the 5 th grade ones, so you might want to try those if this seems too hard for your class.

2. YMI’s Healthy Meal, Healthy Budget Worksheets

Grab your free teaching kit (for grades 3-5, then 6-8) that pairs healthy eating lessons with 5 money math word problems you’d find in the real world.

For example, the first word problem asks students to plan a meal for two people using chicken tenders as the base. They’re given the serving size for each person, then two different options to buy and asked to calculate which is the best money (by calculating the per-unit cost and then comparing that with what they get). 

Answers and explanations are provided.

3. Mixed Practice Money Word Problems

Students are given three paragraphs describing a real-life scenario that is going to cost money. Then, students are asked a series of questions below it, and will need to use multiple kinds of calculations to solve them (subtraction, addition, multiplication, etc.).

4. Value Your Power Word Problems

Here’s a set of money math worksheets tied to electricity use in the household.

In the first activity, students are asked to decipher an electricity bill. They’ll chart the kilowatts used each month of the year, and then work through a series of questions based on that information (such as calculating an average monthly cost).

There’s also a Value Your Power Scoreboard worksheet students can take home as a family challenge.

Hint: it says it’s for 4 th grade – but I suspect these would be great for some 5 th grade students anyway.

5. Thanksgiving Dinner PBL

This project for grades 3-5 starts with the following driving question:

“ I need to feed my family of six for Thanksgiving. For my meal I need an appetizer, main dish, two side dishes, a dessert, and a drink (at least). I have $175 to spend on all the ingredients and any decorations I may want. What should I make?”

Students are tasked with creating a meal plan, recipes, and a grocery list with prices.

Hint: you’ll need a free account on ShareMyLesson.com to download this free lesson plan and rubric.

Advanced Money Word Problems for Older Students

Got a group of high schoolers, or advanced middle schoolers to find money word problems for? These multi-step money word problems and money-thinkers might be just the thing.

Money Word Problem #1: Ad Sale Decode

Money Lesson : Ads aren't always truthful, or as good of a deal as they first seem.

Norgay Sherpa, a mighty Everest climber who has personally climbed to the top of Everest three times (called summitting), saw a television commercial for a pair of Black Diamond Trail Pro Shock Trekking Poles. They have non-slip grips + are collapsible (something that would be very helpful on future climbs).

He wants to purchase them, but is confused about how much his total cost will be. Here are the details for a pair of trekking poles:

  • Two easy payments of $127.05
  • $9.95 Shipping & Handling
  • Get one extra pair free (an incredible deal!), just pay Shipping & Handling (S&H)

What is Sherpa Norgay's total cost going to be?

Answer : $274. How you get there is adding the two “easy payments” of $127.05 + $127.05 + $9.95 S&H + $9.95 S&H (for the second “free” pair).

Money Word Problem #2: Car Insurance Snafu

Money Lesson : How auto insurance works.

One of your expedition partners, Sandy, is facing a money dilemma. She called her husband over Base Camp's satellite phone and found out he was in a car accident. Don't worry, he's okay! But their family car looks like it was in an Avalanche.

Here are the details:

  • The accident was her husband's fault, meaning he hit the other car.
  • Her family has a liability auto insurance policy that insures both of their vehicles.
  • They pay a monthly premium of $96/month.
  • They took the vehicle to a repair shop, and the quote to repair their car is $875.
  • They have an auto insurance deductible of $500.

How much is this car repair going to cost Sandy and her family out of their own pocket?

Answer : $875. They don't have comprehensive car insurance, and Liability Only insurance means costs to repair the other person's car will be paid, but not their own car. So, they're left to pay the full $875.

Money Word Problem #3: Foreign Currency Mix Up

Money Lesson : How to figure out the value of a US Dollar against one of the other 168 currencies in the world.

Mingma Sherpa has been an outstanding partner for your expedition team. He's done all of his duties to help you on Everest − such as setting up your tents and cooking some of your meals − and was paid 360,908.33 Nepalese Rupees for doing so.

It is common courtesy to tip your Sherpa, especially when they've done a great job. If you were to tip Mingma 51,593.24 Nepalese Rupees, how many US Dollars would that be?

Assume that 1 US dollar = 103.186 Nepalese Rupees.

Answer : $500 US Dollars. That's 51,593.24/103.186.

I hope you've found some helpful money word problems with solutions and answers. I think these can open up some fun and helpful discussions with and between students that will help them manage their money as adults.

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Money Worksheets

Welcome to the money worksheets page at Math-Drills.com where you will not be short-changed! This page includes Money worksheets for counting coins and for operations with Dollars, Euros, and Pounds.

Students encounter money early on, and they must be able to manage it themselves in their everyday lives and into adulthood. There are many activities that you can do related to counting, adding, and subtracting money, so save some coins or purchase some play money to complete some of the activities on the money math worksheets below.

The policies of the United States Mint and the European Central Bank allow us to use their coin images on our worksheets. The Canadian coin images are used with permission from the Royal Canadian Mint. Permission to use Australian currency coin designs was obtained from the Royal Australian Mint.

Most Popular Money Worksheets this Week

Counting U.S. Coins

Counting Coins Worksheets

multiplication money problem solving

This is a great place to start with younger students as they are likely to encounter coins before they encounter too many bills. Including children in money transactions helps them to develop important money management skills and has benefits in other math topics such as fractions.

Until everyone starts paying with their smart phones and microchips in their fingers, coins are still a thing. The U.S. Mint still makes billions of coins every year and children will probably encounter them very early on in their life. Knowing how much money you have in coins can be accomplished with a coin counting machine, or it can be accomplished with some mental math.

  • Counting U.S. Coins Counting U.S. Coins Counting U.S. Coins including Half and One Dollar Coins Counting Small Collections of U.S. Coins Counting Small Collections of U.S. Coins including Half and One Dollar Coins
  • Counting Sorted U.S. Coins Counting Sorted U.S. Coins Counting Small Collections of Sorted U.S. Coins
  • Counting Canadian Coins Counting Canadian Coins Counting Canadian Coins (No $) Counting Small Collections of Canadian Coins Counting Small Collections of Can. Coins (No $) Counting Canadian Coins Including 50 Cent Pieces
  • Counting Sorted Canadian Coins Counting Sorted Canadian Coins Counting Sorted Canadian Coins (No $) Counting Small Collections of Sorted Canadian Coins Counting Small Collections of Sorted Canadian Coins (No $)

No one likes their coins better than the U.K. With pockets full of eight different coin values, reinforced stitching on trouser pockets and handbags is common place. Learning to count all of these coins is a feat in itself, but the worksheets in this category should help.

  • Counting British Coins Counting British Coins Counting British Coins - No Pound Coins Counting Small Collections of British Coins Counting Small Collections of British Coins (No Pound Coins)
  • Counting Australian Coins Counting Australian Coins Counting Australian Coins (No Dollars) Counting Small Collections of Australian Coins Counting Small Collections of Australian Coins (No Dollars)
  • Counting Sorted Australian Coins Counting Sorted Australian Coins Counting Sorted Australian Coins (No Dollars) Counting Small Collections of Sorted Australian Coins Counting Small Collections of Sorted Australian Coins (No Dollars)
  • Counting Euro Coins Counting Euro Coins Counting Euro Coins (No 1 or 2 Cents) Counting Euro Coins (No 1 or 2 Euro Coins) Counting Euro Coins (Only 5, 10, 20 and 50 Cent Coins) Counting Small Collections of Euro Coins Counting Small Collections of Euro Coins (No 1 or 2 Cents) Counting Small Collections of Euro Coins (No 1 or 2 Euro coins) Counting Small Collections of Euro Coins (Only 5, 10, 20 and 50 Cent Coins)
  • Counting Sorted Euro Coins Counting Sorted Euro Coins Counting Sorted Euro Coins (No 1 or 2 Cents) Counting Sorted Euro Coins (No 1 or 2 Euro coins) Counting Small Collections of Sorted Euro Coins Counting Small Collections of Sorted Euro Coins (No 1 or 2 Cents) Counting Small Collections of Sorted Euro Coins (No 1 or 2 Euro coins)
  • Counting New Zealand Coins Counting New Zealand Coins (No Dollars) Counting New Zealand Coins Counting Small Collections of New Zealand Coins (No Dollars) Counting Small Collections of New Zealand Coins

Rounding Money Amounts

multiplication money problem solving

The next dollar up is a skill for young students who are not yet able to make change, but can determine how many dollars it will take to cover an amount. For example, if something is $5.45 in a store, then they would need to give $6 to cover that amount since the next dollar up from $5.45 is $6. Students should understand that any amount above zero after the decimal means they need to add another dollar to the number before the decimal in order to have enough to pay for the item. The rest of the worksheets in this section are general rounding questions involving dollar amounts.

  • Next Dollar Up (U.S. Version) Next Dollar Up (Amounts to $5 ) (U.S. Version) Next Dollar Up (Amounts to $10 ) (U.S. Version)
  • Next Dollar Up (Canadian Version) Next Dollar Up (Amounts to $5 ) ( Canadian Version) Next Dollar Up (Amounts to $10 ) ( Canadian Version)
  • Next Dollar Up (Australian Version) Next Dollar Up (Amounts to $5 ) ( Australian Version) Next Dollar Up (Amounts to $10 ) ( Australian Version)
  • Next Pound Up (U.K. Version) Next Pound Up (Amounts to £5 ) Next Pound Up (Amounts to £10 )
  • Rounding Dollar Amounts Rounding Dollar Amounts to the Nearest 5 Cents Rounding Dollar Amounts to the Nearest 10 Cents Rounding Dollar Amounts to the Nearest 20 Cents Rounding Dollar Amounts to the Nearest 25 Cents Rounding Dollar Amounts to the Nearest 50 Cents Rounding Dollar Amounts to the Nearest 1 Dollar Rounding Dollar Amounts to the Nearest 2 Dollars Rounding Dollar Amounts to the Nearest 5 Dollars
  • Rounding British Pound Amounts Rounding British Pound Amounts to the Nearest 5 Pence Rounding British Pound Amounts to the Nearest 10 Pence Rounding British Pound Amounts to the Nearest 20 Pence Rounding British Pound Amounts to the Nearest 25 Pence Rounding British Pound Amounts to the Nearest 50 Pence Rounding British Pound Amounts to the Nearest 1 Pound Rounding British Pound Amounts to the Nearest 2 Pounds Rounding British Pound Amounts to the Nearest 5 Pounds
  • Rounding Euro Amounts Rounding Euro Amounts to the Nearest 5 Cents Rounding Euro Amounts to the Nearest 10 Cents Rounding Euro Amounts to the Nearest 20 Cents Rounding Euro Amounts to the Nearest 25 Cents Rounding Euro Amounts to the Nearest 50 Cents Rounding Euro Amounts to the Nearest 1 Euro Rounding Euro Amounts to the Nearest 2 Euros Rounding Euro Amounts to the Nearest 5 Euros

Adding and Subtracting Money

multiplication money problem solving

Adding money amounts is a nice way to gently move students into thinking about decimals and what a great opportunity to use some manipulatives. Students generally perform better with math that has meaning. Decimal numbers to hundredths have most likely been in students' lives since very early on as stores display prices, parents comment about the prices to help develop critical thinking in their children, so if there is one decimal that students understand well, it is money. They sometimes have trouble relating it to paper and pencil which is why manipulatives come in handy. Play money is a little cheaper than real money and doesn't disappear quite as quickly.

  • Adding Money Amounts with Increments Specifically for U.S. Canadian Currencies Adding With Amounts up to $10 Adding With Amounts up to $100 Adding in Increments of 50 Cents ($) Adding in Increments of 25 Cents ($) Adding in Increments of 10 Cents ($) Adding in Increments of 5 Cents ($)
  • Adding Money Amounts with Increments Specifically for British Currency Adding With Amounts up to £10 Adding With Amounts up to £100 Adding Increments of 50 Pence (£) Adding Increments of 20 Pence (£) Adding Increments of 10 Pence (£) Adding Increments of 5 Pence (£) Adding Increments of 2 Pence (£)
  • Adding Money Amounts with Increments Specifically for Australian and New Zealand Currencies Adding With Amounts up to $10 Adding With Amounts up to $100 Adding Increments of 50 Cents ($) Adding Increments of 20 Cents ($) Adding Increments of 10 Cents ($) Adding Increments of 5 Cents ($)
  • Adding Money Amounts with Increments Specifically for Euro Currency Adding With Amounts up to €10 Adding With Amounts up to €100 Adding Increments of 50 Euro Cents Adding Increments of 20 Euro Cents Adding Increments of 10 Euro Cents Adding Increments of 5 Euro Cents Adding Increments of 2 Euro Cents

The strategy of choice for subtracting money is the counting up strategy. It works especially well for giving change from whole dollar/Pound/Euro amounts. Following is an example of how it works. Let's say the bill at the grocery store came out to $13.46 and the cashier was presented with a $20.00 bill and for some odd reason, the monitor on his cash machine had a crack in it that obscured the amount of change to give. What would he do?! The first thing to do is to take four cents out of the drawer because he needs to add the $13.46 to an unknown amount to make $20, and four cents will bring the $13.46 up to $13.50 which makes things rounder and, for most, a little easier. Next, he needs to pull out two quarters to bring the amount up to $14 even. He can then remove a dollar bill to make the amount $15, and finally pull out a $5 bill to count up to $20. Now, if he wanted to know how much change he gave, he just needs to think back to what he pulled out of the drawer: $5 + $1 + $0.50 + $0.04 = $6.54.

  • Subtracting Money Amounts with Increments Specifically for U.S. and Canadian Currencies Subtracting With Amounts up to $10 Subtracting With Amounts up to $100 Subtracting in Increments of 50 Cents ($) Subtracting in Increments of 25 Cents ($) Subtracting in Increments of 10 Cents ($) Subtracting in Increments of 5 Cents ($)
  • Subtracting Money Amounts with Increments Specifically for British Currency Subtracting With Amounts up to £10 Subtracting With Amounts up to £100 Subtracting Increments of 50 Pence (£) Subtracting Increments of 20 Pence (£) Subtracting Increments of 10 Pence (£) Subtracting Increments of 5 Pence (£) Subtracting Increments of 2 Pence (£)
  • Subtracting Money Amounts with Increments Specifically for Australian and New Zealand Currencies Subtracting With Amounts up to $10 Subtracting With Amounts up to $100 Subtracting Increments of 50 Cents ($) Subtracting Increments of 20 Cents ($) Subtracting Increments of 10 Cents ($) Subtracting Increments of 5 Cents ($)
  • Subtracting Money Amounts with Increments Specifically for Euro Currency Subtracting With Amounts up to 10 € Subtracting With Amounts up to 100 € Subtracting Increments of 50 Euro Cents (€) Subtracting Increments of 20 Euro Cents (€) Subtracting Increments of 10 Euro Cents (€) Subtracting Increments of 5 Euro Cents (€) Subtracting Increments of 2 Euro Cents (€)
  • Adding and Subtracting Money Amounts with Increments Specifically for U.S. and Canadian Currencies Adding & Subtracting With Amounts up to $10 Adding & Subtracting With Amounts up to $100 Adding & Subtracting in Increments of 50 Cents ($) Adding & Subtracting in Increments of 25 Cents ($) Adding & Subtracting in Increments of 20 Cents ($) Adding & Subtracting in Increments of 10 Cents ($) Adding & Subtracting in Increments of 5 Cents ($)
  • Adding and Subtracting Money Amounts with Increments Specifically for British Currency Adding & Subtracting With Amounts up to £10 Adding & Subtracting With Amounts up to £100 Adding & Subtracting Increments of 50 Pence (£) Adding & Subtracting Increments of 20 Pence (£) Adding & Subtracting Increments of 10 Pence (£) Adding & Subtracting Increments of 5 Pence (£) Adding & Subtracting Increments of 2 Pence (£)
  • Adding and Subtracting Money Amounts with Increments Specifically for Australian and New Zealand Currencies Adding & Subtracting With Amounts up to $10 Adding & Subtracting With Amounts up to $100 Adding & Subtracting in Increments of 50 Cents ($) Adding & Subtracting in Increments of 20 Cents ($) Adding & Subtracting in Increments of 10 Cents ($) Adding & Subtracting in Increments of 5 Cents ($)
  • Adding and Subtracting Money Amounts with Increments Specifically for European Currency Adding & Subtracting With Amounts up to 10 € Adding & Subtracting With Amounts up to 100 € Adding & Subtracting Increments of 50 Euro Cents (€) Adding & Subtracting Increments of 20 Euro Cents (€) Adding & Subtracting Increments of 10 Euro Cents (€) Adding & Subtracting Increments of 5 Euro Cents (€) Adding & Subtracting Increments of 2 Euro Cents (€)

Making change from bills and notes worksheets.

  • Making Change from U.S. Bills Making Change from U.S. $1 Bills Making Change from U.S. $5 Bills Making Change from U.S. $10 Bills Making Change from U.S. $20 Bills Making Change from U.S. $50 Bills Making Change from U.S. $100 Bills
  • Making Change from Mixed U.S. Bills Making Change from U.S. Bills up to $5 Making Change from U.S. Bills up to $10 Making Change from U.S. Bills up to $20 Making Change from U.S. Bills up to $50 Making Change from U.S. Bills up to $100
  • Making Change from Canadian Bills Making Change from Canadian $5 Bills Making Change from Canadian $10 Bills Making Change from Canadian $20 Bills Making Change from Canadian $50 Bills Making Change from Canadian $100 Bills
  • Making Change from Mixed Canadian Bills Making Change from Canadian Bills up to $10 Making Change from Canadian Bills up to $20 Making Change from Canadian Bills up to $50 Making Change from Canadian Bills up to $100
  • Making Change from Euro Notes Making Change from Euro €5 Notes Making Change from Euro €10 Notes Making Change from Euro €20 Notes Making Change from Euro €50 Notes Making Change from Euro €100 Notes Making Change from Euro €200 Notes
  • Making Change from Mixed Euro Notes Making Change from Euro Notes up to €10 Making Change from Euro Notes up to €20 Making Change from Euro Notes up to €50 Making Change from Euro Notes up to €100 Making Change from Euro Notes up to €200

Further worksheets will be released as soon as the Reserve Bank of New Zealand releases more banknotes from Series 7.

  • Making Change from New Zealand Banknotes Making Change from New Zealand $5 Banknotes Making Change from New Zealand $10 Banknotes
  • Making Change from Mixed New Zealand Banknotes Making Change from New Zealand Banknotes up to $10

The Bank of England sent us this response regarding our request for images: "Please note that the Bank of England does not provide images of notes." Therefore, we are unable to create making change math worksheets using Bank of England banknotes.

Multiplying and Dividing Money

multiplication money problem solving

It would be nice if our own money could multiply quite as nicely in our bank accounts as it does on these worksheets. Alas, we will have to settle with low interest rates multiplying our money over the span of decades. These multiplying money worksheets would go well with some money manipulatives. Simply make several piles of the same amount (the same number of piles as the multiplier), combine it all into one pile, regroup as much as possible (e.g. five ones into a five), and count up the results.

  • Multiplying Dollar Amounts by 1-Digit Multipliers (U.S. and Canada Version) Multiplying Dollar Amounts in Increments of 1 Cent by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 25 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by One-Digit Multipliers
  • Multiplying Dollar Amounts by 2-Digit Multipliers (U.S. and Canada Version) Multiplying Dollar Amounts in Increments of 1 Cent by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 25 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by Two-Digit Multipliers
  • Multiplying Pound Sterling Amounts by 1-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 1 Penny by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 2 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 5 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 10 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 20 Pence by One-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 50 Pence by One-Digit Multipliers
  • Multiplying Pound Sterling Amounts by 2-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 1 Penny by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 2 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 5 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 10 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 20 Pence by Two-Digit Multipliers Multiplying Pound Sterling Amounts in Increments of 50 Pence by Two-Digit Multipliers
  • Multiplying Dollar Amounts by 1-Digit Multipliers (Australia and New Zealand Version) Multiplying Dollar Amounts in Increments of 1 Cent by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 20 Cents by One-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by One-Digit Multipliers
  • Multiplying Dollar Amounts by 2-Digit Multipliers (Australia and New Zealand Version) Multiplying Dollar Amounts in Increments of 1 Cent by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 5 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 10 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 20 Cents by Two-Digit Multipliers Multiplying Dollar Amounts in Increments of 50 Cents by Two-Digit Multipliers
  • Multiplying Euro Amounts by 1-Digit Multipliers Multiplying Euro Amounts in Increments of 1 Cent by One-Digit Multipliers Multiplying Euro Amounts in Increments of 2 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 5 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 10 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 20 Cents by One-Digit Multipliers Multiplying Euro Amounts in Increments of 50 Cents by One-Digit Multipliers
  • Multiplying Euro Amounts by 2-Digit Multipliers Multiplying Euro Amounts in Increments of 1 Cent by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 2 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 5 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 10 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 20 Cents by Two-Digit Multipliers Multiplying Euro Amounts in Increments of 50 Cents by Two-Digit Multipliers

Dividing money amounts by whole numbers worksheets.

  • Dividing Dollar Amounts by 1-Digit Multipliers (U.S. and Canada Version) Dividing Dollar Amounts in Increments of 1 Cent by One-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 25 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by One-Digit Divisors
  • Dividing Dollar Amounts by 2-Digit Multipliers (U.S. and Canada Version) Dividing Dollar Amounts in Increments of 1 Cent by Two-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 25 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by Two-Digit Divisors
  • Dividing Pound Sterling Amounts by 1-Digit Multipliers Dividing Pound Sterling Amounts in Increments of 1 Penny by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 2 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 5 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 10 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 20 Pence by One-Digit Divisors Dividing Pound Sterling Amounts in Increments of 50 Pence by One-Digit Divisors
  • Dividing Pound Sterling Amounts by 2-Digit Multipliers Dividing Pound Sterling Amounts in Increments of 1 Penny by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 2 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 5 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 10 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 20 Pence by Two-Digit Divisors Dividing Pound Sterling Amounts in Increments of 50 Pence by Two-Digit Divisors
  • Dividing Dollar Amounts by 1-Digit Multipliers (Australia and New Zealand Version) Dividing Dollar Amounts in Increments of 1 Cent by One-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by One-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by One-Digit Divisors
  • Dividing Dollar Amounts by 2-Digit Multipliers (Australia and New Zealand Version) Dividing Dollar Amounts in Increments of 1 Cent by Two-Digit Divisors Dividing Dollar Amounts in Increments of 5 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 10 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 20 Cents by Two-Digit Divisors Dividing Dollar Amounts in Increments of 50 Cents by Two-Digit Divisors
  • Dividing Euro Amounts by 1-Digit Multipliers Dividing Euro Amounts in Increments of 1 Cent by One-Digit Divisors Dividing Euro Amounts in Increments of 2 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 5 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 10 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 20 Cents by One-Digit Divisors Dividing Euro Amounts in Increments of 50 Cents by One-Digit Divisors
  • Dividing Euro Amounts by 2-Digit Multipliers Dividing Euro Amounts in Increments of 1 Cent by Two-Digit Divisors Dividing Euro Amounts in Increments of 2 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 5 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 10 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 20 Cents by Two-Digit Divisors Dividing Euro Amounts in Increments of 50 Cents by Two-Digit Divisors

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Maths Genie

Calculation Money Problems

In these problems we are using the four operations (addition, subtraction, multiplication and division) in the context of money questions.

We need to work out which operation to use for each question.

Example 1: You buy 7 bananas for 23p each. Work out the total cost.

Here we have a multiplication question.

Each banana costs 23p and we have 7 bananas. We need to work out 7 × 23 We can use long multiplication.

multiplication money problem solving

We start with 7 × 3 7 × 3 = 21 The one goes in the ones column and the 2 is carried over to the tens.

multiplication money problem solving

Next is 7 × 2 7 × 2 = 14 We add on the 2 we carried over 14 + 2 = 16 The 6 goes in the tens and the 1 is carried over to the hundreds

multiplication money problem solving

The total cost is 161p We can convert pence to pounds and pence by dividing by 100 161p = £1.61

Example 2: You buy 8 oranges for 29p each. You pay with a £10 note. Work out how much change you should get.

Each orange costs 29p and we have 8 oranges. We need to work out 8 × 29

multiplication money problem solving

We start with 8 × 9 8 × 9 = 72 The 2 goes in the ones column and the 7 is carried over to the tens.

multiplication money problem solving

Next is 8 × 2 8 × 2 = 16 We add on the 7 we carried over 16 + 7 = 23 The 3 goes in the tens and the 2 is carried over to the hundreds

multiplication money problem solving

The total cost is 232p

To find the change we need to take 232p away from £10 £10 = 1000p The change will be 1000 - 232

multiplication money problem solving

We start with the column on the right, the ones. We do not want to take 2 away from 0 so we need to take a ten and move it to the ones We do not have any tens or hundreds We can take one thousand and move it to the hundreds, the take one hundred and move it to the tens, then take a ten and move it to the ones. 1000 = 900 + 90 + 10

multiplication money problem solving

We can now subtract each column, starting with the ones 10 - 2 = 8

In the tens we have 9 - 3 9 - 3 = 6

In the hundreds we have 9 - 2 9 - 2 = 7

multiplication money problem solving

We can convert pence to pounds and pence by dividing by 100 768p = £7.68

Example 3: You buy: 2 burgers for 1.49p each. 3 portions of chips for £1.15 each 5 drinks for £1.28 each Work out the total cost.

We need to work out the cost of the burgers, the cost of the chips and the cost of the drinks. We can then add them all together.

For the burgers we have 2 × 149 (I will do the working out in pence and convert back to pounds at the end).

multiplication money problem solving

We start with the ones. 2 × 9 = 18 The 8 goes in the ones and we carry the 1 over to the tens.

multiplication money problem solving

Next is the tens. 2 × 4 = 8 We add on the 1 we carried over 8 + 1 = 9

multiplication money problem solving

The final column is the hundreds. 2 × 1 = 2

multiplication money problem solving

2 × 149 = 298

For the chips we have 3 × 115

multiplication money problem solving

The first column is the ones. 3 × 5 = 15 The 5 goes in the ones and we carry the 1 over to the tens.

multiplication money problem solving

The next column is the tens. 3 × 1 = 3 We add the 1 we carried over 3 + 1 = 4

multiplication money problem solving

The last column is the hundreds. 3 × 1 = 3

multiplication money problem solving

3 × 115 = 345

For the drinks we have 5 × 128

multiplication money problem solving

The first column is the ones. 5 × 8 = 40 The 0 goes in the ones and we carry the 4 over to the tens.

multiplication money problem solving

The next column is the tens. 5 × 2 = 10 We add the 4 we carried over 10 + 4 = 14 The 4 goes in the tens and we carry the 1 over to the hundreds.

multiplication money problem solving

The next column is the hundreds. 5 × 1 = 5 We add the 1 we carried over 5 + 1 = 6

multiplication money problem solving

5 × 128 = 640

We can now add together the cost of the burgers, chips and drinks to find the total cost.

We need to work out 298 + 345 + 640. We can use column addition

multiplication money problem solving

The first column is the ones. 8 + 5 + 0 = 13 The 3 goes in the ones and we carry the 1 over to the tens.

multiplication money problem solving

The next column is the tens. 9 + 4 + 4 + 1 = 18 The 8 goes in the tens and we carry the 1 over to the hundreds.

multiplication money problem solving

The next column is the hundreds. 2 + 3 + 6 + 1 = 12 The 2 goes in the hundreds and the 1 goes in the thousands.

multiplication money problem solving

298 + 345 + 640 = 1283 1283 ÷ 100 = 12.83 The total cost is £12.83

Example 4: You buy a car for £9000 You pay a deposit of £3200 and the rest in 25 monthly installments. Work out the amount of each installment.

The first step in this question is to subtract the deposit of £3200 from the price to see how much is left to pay.

We need to work out 9000 - 3200

multiplication money problem solving

We start with the ones. 0 - 0 = 0

In the tens we also have 0 - 0 = 0

multiplication money problem solving

In the hundreds we have 0 - 2 We need to take one thousand and move it to the hundreds. 9000 is the same as 8000 + 1000

multiplication money problem solving

We now have 10 - 2 in the hundreds 10 - 2 = 8

multiplication money problem solving

In the thousands we have 8 - 3 8 - 3 = 5

multiplication money problem solving

9000 - 3200 = 5800

We have 5800 left to pay. We need to divide 5800 by 25 to work out the monthly payment. 5800 ÷ 25

We can use short division. We can write the 25 times table down the side to make the division easier.

multiplication money problem solving

We start with the biggest column, the thousands. 25 does not go into 5 so we carry the 5 over to the hundreds where it is worth 50.

multiplication money problem solving

Next is the hundreds. 25 goes into 58 twice. 25 × 2 = 50 58 - 50 = 8 We carry the 8 over to the tens (where it is worth 80).

multiplication money problem solving

Next is the tens. 25 goes into 80 three times. 25 × 3 = 75 80 - 75 = 5 We have 5 left over to carry over to the ones.

multiplication money problem solving

In the ones we have 50 25 × 2 = 50 5800 ÷ 25 = 232

multiplication money problem solving

The monthly installments are £232

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Grade 5 money math worksheets: Word problems with solutions

Hi there! Are you ready to ace your 5 th grader's money skills? Worry less! This article provides fun and engaging Grade 5 money math worksheets and exciting word problems with solutions . Also, in this article, you will find the simplest ways to explain:

How to master money word problems in 5 easy steps!

  • Fun and engaging 5th-grade worksheets to practice money skills

Adding and subtracting money word problems

  • Multiplying and dividing money word problems

How to calculate sales tax and discounts

  • Tips and tricks to solve any money word problem
  • Real-life examples of money word problems and how to solve them
  • Bonus: additional grade 5 money math worksheets to boost 5 th graders' confidence and knowledge

Conclusion: applying money math skills to real-life situations

Grade 5 money math worksheets: the ultimate guide to saving and spending.

Help your 5 th graders find an ultimate guide to saving and spending with the help of these fantastic Grade 5 money math worksheets from selected Mathskills4kids.com .

These engaging 5th-grade money worksheets from Mathskills4kids consist of simple exercises for practicing money skills, such as adding and subtracting money, multiplying and dividing money, calculating sales tax and discounts, and more.

In this article, we'll also show 5th graders how to solve money word problems in 5 easy steps. Plus, we'll share some tips and tricks to solve any money word problem and real-life examples of money word problems.

And as a bonus, we'll give you access to some additional grade 5 money math worksheets that will take your 5th grader's money math skills to the next level!

Ready to get started? Let's dive in!

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Grade 5 money math worksheets: Word problems with solutions - Adding and subtracting money amounts word problems

Start practice on Fifth Grade here

Money word problems can be tricky but don't have to be. Here are 5 easy steps that will help 5 th graders to master money word problems solving skills in no time:

  • Read the problem carefully and identify what is given and what is asked. Look for keywords that indicate the operation needed, such as "total," "change," "spent," "earned," "saved," etc.
  • Write down the given information using the same units of money (dollars or cents). If necessary, convert between units using the rule that 100 cents = 1 dollar.
  • Choose the appropriate operation (addition, subtraction, multiplication, or division) and set up an equation using variables or symbols to represent the unknown quantities.
  • Solve the equation using the order of operations (PEMDAS) and check your answer by plugging it back into the equation.
  • Write your answer in a complete sentence using the correct units of money and label it clearly.

That's it! Following these 5 steps, your 5th grader can confidently and accurately solve any money word problem.

Fun and engaging Grade 5 money math worksheets to practice money skills

Now that you know how to solve money word problems, it's time to practice! We've selected some fun and engaging grade 5 money math worksheets from Mathskills4kids.com that cover various money skills, such as:

  • Adding and subtracting money word problems : These worksheets will help your 5th grader practice adding and subtracting money amounts with decimals and finding the change from a given amount.
  • Multiplying and dividing money word problems : These worksheets will help your 5th grader practice multiplying and dividing money amounts by whole numbers or decimals and finding the unit price or rate of a given item or service.
  • How to calculate sales tax and discounts : These worksheets will help your 5th grader practice calculating sales tax and discounts on purchases and finding the final price or cost of an item or service after applying the tax or discount.
  • Real-life examples of money word problems and how to solve them : These worksheets will present your 5th grader with some realistic scenarios of money word problems that they may encounter in their daily lives, such as shopping, budgeting, saving, investing, etc.

Let's start with adding and subtracting money word problems . These are problems where you will find the total amount of money or the change after buying something. For example, how much money do you spend buying a book for $12.50 and a pencil for $0.75? Or, if you have $20 and buy a sandwich for $4.25, how much money do you have left?

To solve these problems, you must line up the decimal points and add or subtract the numbers as usual. Remember to put the dollar sign and the decimal point in your answer!

Multiplying and dividing money word problems worksheet

Next, we have multiplying and dividing money word problems . These are problems where you will find the product or the quotient of money and a number. For example, if you earn $8 per hour and work 5 hours, how much money do you earn? Or, if you have $50 and want to split it equally among 4 friends, how much money does each friend get?

To solve these problems, you will multiply or divide the numbers as usual, but be careful with the decimal point. Move it two places to the left when multiplying and two places to the right when dividing. Also, remember to put the dollar sign and the decimal point in your answer!

Another important topic is how to calculate sales tax and discounts . Sales tax is a percentage of the price you must pay extra when buying something. For example, how much do you have to pay if you buy a shirt for $15 and the sales tax is 10%?

To find the sales tax amount, multiply the price by the sales tax rate as a decimal (10% = 0.1). Then, add the sales tax amount to the original price to get the total price. In this case, the sales tax amount is $15 x 0.1 = $1.5, and the total price is $15 + $1.5 = $16.5.

Discounts are a percentage of the price you save when buying something on sale. For example, how much do you pay if you buy a pair of shoes for $40 and the discount is 25%?

To find the discount amount, multiply the original price by the discount rate as a decimal (25% = 0.25). Then, subtract the discount amount from the original price to get the sale price. In this case, the discount amount is $40 x 0.25 = $10, and the sale price is $40 - $10 = $30.

10 real-life examples of 5 th Grade money word problems with solutions

Finally, let's look at some real-life examples of 5th Grade money word problems with solutions . These are problems that involve more than one step or operation, requiring careful reading and thinking. For example;

If you go to a movie theater with your friend and buy two tickets for $8 each, a large popcorn for $6, and two drinks for $3 each, how much money do you spend? To solve this problem, add all the costs: 2 x $8 + $6 + 2 x $3 = $28.

Or, if you have a coupon that gives you 20% off on any item at a store, and you buy a jacket that costs $45 before tax, and the sales tax is 8%, how much do you pay? To solve this problem, first find the sale price after applying the coupon: $45 - ($45 x 0.2) = $36. Then, find the sales tax amount: $36 x 0.08 = $2.88. Finally, add the sale price and the sales tax amount: $36 + $2.88 = $38.88.

Real-life situations-money math problems with solutions

Solution: To solve this problem, find out how much more money Anna needs to buy the bike and then divide that by her weekly income. We can use subtraction and division to do this.

$250 - $120 = $130

$130 / $10 = 13

Anna needs 13 more weeks to save enough money for the bike.

Solution: To solve this problem, we need to find out how much money Ben earns and how much he spends for each cup of lemonade, then subtract the cost from the revenue. We can use multiplication and subtraction to do this.

$0.50 x 1 = $0.50 (revenue)

$0.20 x 1 = $0.20 (cost)

$0.50 - $0.20 = $0.30 (profit)

Ben makes 30 cents of profit for each cup of lemonade he sells.

Solution : To solve this problem, we need to find out how much money Charlie's parents will pay and how much Charlie has to pay, and then subtract what he already has from what he needs. We can use division and subtraction to do this.

$60 / 2 = $30 (Charlie's parents' share)

$60 / 2 = $30 (Charlie's share)

$30 - $15 = $15

Charlie needs $15 more to buy the video game.

Solution : To solve this problem, we need to find out how much money Dani will save with the coupon and how much she will pay after applying the discount. We can use multiplication and subtraction to do this.

$12 x 0.20 = $2.40 (discount amount)

$12 - $2.40 = $9.60 (final price)

Dani will pay $9.60 for the book after using the coupon.

To solve this problem, we need to find out how much Ella has in total and how much she will spend on the necklace, then subtract the price from the amount. We can use addition and subtraction to do this.

$10 + $5 + $1 = $16 (total amount)

$18 - $16 = $2 (change amount)

Ella will get back $2 in change if she pays with these bills.

To solve this problem, we will determine how much each type of coin is worth and add up the total. We can use multiplication and addition to do this.

$0.25 x 12 = $3 (quarters)

$0.10 x 15 = $1.50 (dimes)

$0.05 x 18 = $0.90 (nickels)

$0.01 x 20 = $0.20 (pennies)

$3 + $1.50 + $0.90 + $0.20 = $5.60 (total amount)

Frank has $5.60 in his jar of coins.

To solve this problem, we need to find out how many slices each person gets and how much each slice costs, then multiply the cost by the number of slices. We can use division and multiplication to do this.

8 / 3 = 2.67 (slices per person)

$12 / 8 = $1.50 (cost per slice)

$1.50 x 2.67 = $4.01 (cost per person)

Each person should pay $4.01 if they share the pizza equally.

To solve this problem, we need to determine how much money Jack makes per day, week, and month and then add the amounts. We can use multiplication and addition to do this.

$0.25 x 40 = $10 (daily income)

$10 x 7 = $70 (weekly income)

$70 + $5 = $75 (weekly income with bonus)

$75 x 4 = $300 (monthly income)

Jack makes $300 a month.

Solution : To solve this problem, we need to find out how much money Kelly will save with the coupon, how much she will pay before tax, and how much tax she will pay, and then add up the amounts. We can use multiplication and addition to do this.

$40 x 0.15 = $6 (discount amount)

$40 - $6 = $34 (price before tax)

$34 x 0.08 = $2.72 (tax amount)

$34 + $2.72 = $36.72 (final price)

Kelly will pay $36.72 for the jeans after using the coupon and paying the tax.

Solution : To solve this problem, we need to find out how much money Leo will spend on each item and how many items he can buy with his budget, then compare the amounts. We can use multiplication and division to do this.

$12 x 1 = $12 (one pizza)

$15 x 1 = $15 (one cake)

$6 x 1 = $6 (one gallon of ice cream)

$2 x 1 = $2 (one liter of soda)

$100 / $12 = 8.33 (maximum number of pizzas)

$100 / $15 = 6.67 (maximum number of cakes)

$100 / $6 = 16.67 (maximum number of ice creams)

$100 / $2 = 50 (maximum number of sodas)

One possible solution is to buy 8 pizzas, 1 cake, 2 gallons of ice cream, and 10 liters of soda.

$12 x 8 = $96 (cost of pizzas)

$15 x 1 = $15 (cost of cake)

$6 x 2 = $12 (cost of ice cream)

$2 x 10 = $20 (cost of soda)

$96 + $15 + $12 + $20 = $143 (total cost)

However, this solution exceeds Leo's budget by $43, so he needs to reduce some items or find cheaper alternatives.

Another possible solution is to buy 6 pizzas, 1 cake, 1 gallon of ice cream, and 12 liters of soda.

$12 x 6 = $72 (cost of pizzas)

$6 x 1 = $6 (cost of ice cream)

$2 x 12 = $24 (cost of soda)

$72 + $15 + $6 + $24 = $117 (total cost)

This solution is within Leo's budget by $17, so he can either save the money or buy more items if he wants.

There may also be other possible solutions, as long as they are within Leo's budget.

These money math questions are fun, engaging, and challenging. They will help you develop 5 th graders’ math, critical thinking, and financial literacy skills.

Bonus: Additional money math resources to boost 5th graders' confidence and knowledge

If you want to give your 5th grader some extra practice and challenge in money math skills, we can advise you with some excellent websites, games, videos, and worksheets that you can use to supplement your money math lessons.

These resources cover decimals, fractions, percentages, interest, taxes, budgeting, etc. Check them out and see how they can boost your 5th graders' confidence and knowledge in money math!

  • Math Playground : This website has tons of interactive games and activities that teach and practice money math skills. You can find games for different grade levels and topics, such as Decimal Place Value Pirates, Fraction Matcher, Percent Shopping, and Money Word Problems. Your students will love playing these games and learning at the same time! Visit https://www.mathplayground.com/ASB_Dolphin_Dash.html to explore the games.
  • co Academy : This website is a great resource for learning and reviewing money math concepts. You can watch videos to teach your 5th-grade students how to do addition and subtraction with various money amounts. You can also teach them to solve word problems and calculate the merchandise's unit price. Visit https://study.com/academy/topic/5th-grade-math-money.html and teach money math in an exciting way.
  • Math is Fun : This website has a lot of helpful information and examples that help you understand money math topics. You can read about the basics of money, such as coins, bills, currency, exchange rates, and rounding. You can also learn about more advanced topics, such as decimals, fractions, percentages, interest, taxes, budgeting, and saving. Visit https://www.mathsisfun.com/money/index.html to browse the topics.
  • BrainPOP : This website has engaging videos and quizzes that teach you about money math topics. You can watch videos that feature Tim and Moby, two funny characters who explain the topics in a fun and easy way. You can also take quizzes that test your knowledge and give you feedback. Visit https://www.brainpop.com/games/moneymagic/ to watch the video on money.

Thank you for sharing the links of MathSkills4Kids.com with your loved ones. Your choice is greatly appreciated.

Money math skills are essential for 5th graders to learn and master, as they will help them become financially literate and responsible in the future. By practicing money word problems and other money math skills using Mathskills4kids’ worksheets, your 5th grader will be able to apply their knowledge and skills to real-life situations, such as:

  • Planning and managing their finances, such as saving, spending, budgeting, investing, etc.
  • Making intelligent and informed shopping decisions, such as comparing prices, finding the best deals, calculating taxes and discounts, etc.
  • Understanding and using different forms of money, such as cash, checks, debit cards, credit cards, etc.
  • Developing a positive attitude towards money and its value, such as appreciating what they have, being generous and charitable, avoiding debt and fraud, etc.

We hope you enjoyed this article and found it helpful. We encourage you to use our worksheets to help your 5th grader master money word problems and other money math skills.

We invite you to visit mathskills4kids.com for more enriching math worksheets in all Grades. Thank you for reading, and happy teaching!

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Identifying the Combination of Coins

Look at the amount expressed in cents and figure out two different combinations of coins to make up the same amount.

Identifying the Combination of Coins

Counting U.S. Bills and Coins within $100

Add up a mix of American bills and coins to make whole number amounts within $100.

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Multiply Money Game

Multiply Money Game

Help your child take flight by learning how to multiply money.

Word Problems on Multiplying Money Game

Word Problems on Multiplying Money Game

Dive deep into the world of math by solving word problems on multiplying money.

Divide Money Game

Divide Money Game

Kids must divide money to practice counting money.

Word Problems on Dividing Money Game

Word Problems on Dividing Money Game

Enter the madness of math-multiverse by exploring how to solve word problems on dividing money.

Multiply and Calculate the Total Money Paid Game

Multiply and Calculate the Total Money Paid Game

Enjoy the marvel of mathematics by exploring how to multiply and calculate the total money paid.

Divide and Find the Amount Asked in Each Scenario Game

Divide and Find the Amount Asked in Each Scenario Game

Sharpen your counting money skills as you divide and find the amount asked in each scenario.

Find Out the Total Money Spent by Multiplying Game

Find Out the Total Money Spent by Multiplying Game

Find out the total money spent by multiplying to practice counting money.

Multiply, Divide, and Learn about Money with Numbers

With SplashLearn, you can help your child learn the principles of money, an essential skill required in real life. Here are a few games on multiplying and dividing money that allow young learners to work on a series of well-designed real-world issues, allowing them to gain more experience with the principles of calculating money through multiplication and division:

  • Learning through Word-Problems: Students will solve a range of word problems using money multiplication. The game will assist your young mathematician in further practicing the principles of money operations.
  • Calculate the Total Money Spent: The game improves students' problem-solving skills while also allowing them to practice counting money ideas. They must decipher each story situation and calculate the overall cost to win the game.
  • Divide and Find the Amount: In this game, students will have to use their knowledge of dividing and counting money and then find the correct amount/answer among the various options.
  • Dividing Money Using Word Problems: Working with money word problems in this game will help students improve their problem-solving skills. Students will be required to examine a series of alternatives and choose the proper solution.
  • Find the Amount in Each Scenario: Here, students will get many chances to practice division word problems, including "divide by" scenarios. They'll have to figure out what's going on in the tale and come up with a solution.

With real-time dashboard assessment, you can now monitor your child's success on SplashLearn, allowing you to organize and schedule daily math lessons effortlessly. The games on multiplying and dividing money can help your kids gain the confidence they need by solving various interactive problems.

Your one stop solution for all grade learning needs.

IMAGES

  1. Math Multiplication Money Word Problems (primary, elem) Poster

    multiplication money problem solving

  2. Money Multiplication: 4 Digits by 1 Digit Worksheet for 3rd

    multiplication money problem solving

  3. Multiplication Money Problems

    multiplication money problem solving

  4. Solving Multiplication Word Problems: Money

    multiplication money problem solving

  5. multiplication problem solving year 2

    multiplication money problem solving

  6. Solving Routine and Non-Routine Problems Involving Multiplication of Whole Numbers

    multiplication money problem solving

VIDEO

  1. Multiplication of Money

  2. Money Multiplication ऐसे होगा II Money Multiplication Will Happen This Way

  3. Solve #maths #shortvideo

  4. Solve this math problem #math #shorts

  5. Money Problem Solving Part 2

  6. Mixture Word Problems with Money: WP12 [fbt]

COMMENTS

  1. Multiplying Money Worksheets

    View PDF. Variety Worksheet. This worksheet has several types of money multiplication problems, including a multi-step word problem and an input/output table. 3rd through 5th Grades. View PDF. Money Multiplication: 1-digit Numbers. Graph Paper Math Drills; Dollars and cents times 1-digit; (example: $4.99 x 3) 3rd through 5th Grades.

  2. Money Multiplication Worksheets

    Here is our random worksheet generator for multiplication worksheets involving money. You can generate a range of multiplication worksheets ranging from $1 to $100,000 by up to 3 digits. Choose the currency symbol you want to use: the default is $, but you can also choose £ and €. Using this generator will let you create your own worksheets for:

  3. Worksheet on Multiplication of Money

    Answers for the worksheet on multiplication of money are given below to check the exact answers of the above questions on finding the products of the amount by a number. Answers: 1. (i) Rs. 70. (ii) 72 Paisa. (iii) Rs. 2.10 or 210 Paisa. (iv) Rs. 520.

  4. Money Word Problems

    The money word problems worksheets marked as having 'extra facts' on this page are appropriate for 3rd or 4th grade students who can confidently solve other problems. The word problems are grouped into sets focusing on addition and subtraction, or multiplication and division, or combinations of all four operations.

  5. Multiplication Worksheets

    Now you are ready to create your Multiplication Worksheet by pressing the Create Button. This multiplication worksheet may be configured for up to 3 digits on the left of the decimal. The currency symbol may be selected from Dollar, Pound, Euro, and Yen. You may vary the numbers of problems for each worksheet from 12, 16 or 20.

  6. Multiply Money Amounts

    Grade 5 - Number and Operations in Base Ten. Standard 5.NBT.B.7 - Solve multiplication word problems with money.. Included Skills: Add, subtract, multiply, and divide decimals to hundredths, using concrete models or drawings and strategies based on place value, properties of operations, and/or the relationship between addition and subtraction; relate the strategy to a written method and ...

  7. Grade 4 money word problem worksheets

    Explore all of our math word problem worksheets, from kindergarten through grade 5. More money worksheets See all of our money worksheets , from recognizing coins to counting coins and shopping problems.

  8. Multiply money amounts: word problems

    out of 100. IXL's SmartScore is a dynamic measure of progress towards mastery, rather than a percentage grade. It tracks your skill level as you tackle progressively more difficult questions. Consistently answer questions correctly to reach excellence (90), or conquer the Challenge Zone to achieve mastery (100)! Learn more.

  9. Multiplication Worksheets: Multiplication with Money

    There are different sets of multiplication worksheets in this section that deal with each of these scenarios, as well as full multiplication of arbitrary dollars and cents. These worksheets practice multiplying dollars and cents by another number. Money multiplication is a useful skill similar to decimal multiplication, and these printable PDF ...

  10. Multiplication Word Problems: Money, Money, Money!

    In these multiplication word problems, it's all money, money, money! Perfect for fourth-grade students, this worksheet features five math word problems about using money in real-life situations. It's great practice for walking through multi-step mixed operations word problems. Download Free Worksheet. View answer key.

  11. Money Word Problems Worksheet (Mixed Operations, solutions)

    Money Word Problems (Addition, Subtraction, Multiplication & Division) Objective: I can solve word problems involving addition, subtraction multiplication and division of money. Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble.

  12. Word Problems on Multiplying Money

    Total amount of money he earns each day = $ 125 × 8 = $ 1000. 3. Sharon income is $ 6250 per month. How much does she earn per year? Solution: Amount of money Sharon's income per month = $ 6250. Number of months in a year = 12. Total amount of money she earns per year = $ 6250 × 12 = $ 75000. 4.

  13. Free Multiplication Word Problems Worksheets

    These math word problems with money ask your kid to help the teacher figure out how much she needs to spend on paper clips, pencils, and more. 2nd grade. Math. ... and solving problems. These multiplication word problems touch on classroom math, money math, and seasonal themes that will keep the whole class engaged. Educational Tools. Learning ...

  14. Money Math: Word Problems with Multiplication and Division

    Word Problems with Multiplication and Division. Below are money word problems that use multiplication and division. The student will also need to understand the units of United States currency including coins (dimes, nickels, etc.), cents, and dollars. 1) Joey makes $250 each month. How much money will he make in a year? Answer: $250 x 12 ...

  15. Best Money Word Problems Worksheets

    Money Math Word Problems: This worksheet has kids solving one and two-step equations, ... These worksheets require students to solve money word problems using division and multiplication of decimals and other more advanced operations. (5 th-8 th Grade) Money Word Problems: This set of worksheets provides kids a place to add, subtract, multiply, ...

  16. 16 Money Word Problems with Solutions and Answers (By Grade)

    Here are some worksheets with money word problems to help your students practice these concepts. 1. Money Task Cards + Scavenger Hunt. This free set of money task cards each has mostly one-step money word problems on them. You can cut them out, and do a scavenger hunt around the room to get students up and moving.

  17. Money Worksheets

    This page includes Money worksheets for counting coins and for operations with Dollars, Euros, and Pounds. Students encounter money early on, and they must be able to manage it themselves in their everyday lives and into adulthood. There are many activities that you can do related to counting, adding, and subtracting money, so save some coins ...

  18. Maths Genie • Money Problems

    Calculation Money Problems. In these problems we are using the four operations (addition, subtraction, multiplication and division) in the context of money questions. We need to work out which operation to use for each question. Example 1: You buy 7 bananas for 23p each. Work out the total cost.

  19. Money Math

    Proceed from right to left with long multiplication. Remember to carry digits to the left and add them to the product in that step of multiplication. Multiplying Money Math Problem. You spend a total of $52.60 per month on video streaming subscriptions. Multiply that amount by 12 to see how much you spend on streaming per year.

  20. Multiplication and Division Money Word Problems

    Printable PDF worksheets with multiplication and division money word problems. No signup or registration, ready to print and practice!

  21. Grade 5 money math worksheets: Word problems with solutions

    Fun and engaging 5th-grade worksheets to practice money skills. Adding and subtracting money word problems. Multiplying and dividing money word problems. How to calculate sales tax and discounts. Tips and tricks to solve any money word problem. Real-life examples of money word problems and how to solve them. Bonus: additional grade 5 money math ...

  22. 3rd Grade Math Worksheets

    Use our 3rd-grade math worksheets and practice multiplication, division, rounding, measuring, calculating area and perimeter, reading graphs, and more! ... Understand how money plays a crucial role in our day-to-day lives with these exclusive adding money word problems. Add the two amounts to determine the total. ... Solving Word Problems by ...

  23. Multiply And Divide Money Games for Kids

    Learning through Word-Problems: Students will solve a range of word problems using money multiplication. The game will assist your young mathematician in further practicing the principles of money operations. Calculate the Total Money Spent: The game improves students' problem-solving skills while also allowing them to practice counting money ...