How to Solve Money Word Problems for Class 2 with Step by Step Examples
Money is the medium of exchange. When we buy something from the market we give money to the shopkeeper. Every country has its own currency. In simple language, currency is money. It can be paper or coin. In India, we have the Indian rupee as our currency.
Also, 1 Rupee = 100 Paise
Symbol of Rupee
In our country, we have coins of 1 rupee, 2 rupees, 5 rupees, 10 rupees and 20 rupees. There are some frequently used notes in India like 10 , 20, 50, 100, 200, 500, 2000.
Now in this article, you’ll learn about money chapter from Class 2 and to solve money questions, money word problems for Class 2 and much more!
What is the Concept of Money?
We can say that money can be used as a medium of exchange. Coins, notes, etc. are used to pay for services and items. We give money in return for anything like chocolates, cake, fruits, food, football, bat, racket, house, or anything which can be used for selling or buying. Money is used in the form of paper or coins; money is usually issued by a government and generally used at face value as a method of payment for things. It is defined as a widely accepted means of payment. Money is anything that can be easily used for goods and services.
Money Questions
The following questions are money questions for Class 2 which involve rupees and paise. So come let’s learn to solve the following:
Indian Currency Notes
Writing the Amount in Words and Figures
In Figures:
1. Ten rupees and fifty paise = ₹10.50
2. Twenty-six rupees and ten paise = ₹26.10
3. One hundred rupees and twenty paise = ₹100.20
4. Two rupees and five paise = ₹2.05
5. One rupee and two paise = ₹1.02
In Words:
1. ₹10.15 = Ten rupees and fifteen paise
2. ₹15.15 = Fifteen rupees and fifteen paise
3. ₹5.05 = Five rupees and five paise
4. ₹50.50 = Fifty rupees and fifty paise
5. ₹40.50 = Forty rupees and fifty paise
Addition and Subtraction of the Amount of Money
1. Add one rupee 50 paise and 5 rupees
Explanation: Suppose you have 1 rupee and 50 paise with you. And your mother gives you 5 rupees. So the total amount that you have now will be 6 rupees and 50 paise.
2. Add five rupees and ten rupees
Explanation: Suppose your father gives you 5 rupees and your mother gives you 10 rupees. So the total amount you have now will be 15 rupees.
3. Subtract fifteen rupees from twenty-six rupees
Explanation: Suppose you have 26 rupees but then you gave 15 rupees to the shopkeeper to buy a pen, now you will be left with 11 rupees.
Money Word Problems
As we learned to add and subtract the amount of money, we’ll now focus on some money word problems for Class 2.
1. The cost of one pen is ₹10. What will be the cost of 7 such pens?
Solution: Cost of 1 pen = ₹10
So the cost of 7 such pens will be = the cost of 1 pen $\times$ number of pens needed
$= ₹ 10 \times 7$
$= ₹ 70$
The cost of 7 pens will be ₹ 70.
2. Your brother had 67 rupees with him. Then he gave 35 rupees to you. How much money is left with him now?
Solution: Money that your brother had ₹ 67
The amount that he gave you= ₹35
The total amount left with your brother = ₹ 67 - ₹ 35
= ₹ 32
Grade 2 Money Worksheets
Worksheet 1: Money Calculation
Money Calculation Worksheet
Fill in the blanks:
With ₹6, I can buy ____________.
With ₹16, I can buy ____________.
With ₹11, I can buy ____________.
With ₹7, I can buy ____________.
Worksheet 2: Count the money
Count the Money
Money Word Problem for Class 2
1. Riya bought a bar of chocolate for ₹10 and chewing gum for ₹2. How much money did she spend?
Ans: Price for the bar of chocolate = ₹10
Price of chewing gum = ₹2
Total amount Riya spent = ₹10 + ₹2
= ₹ 12
2. Write the amount ₹86.70 in words.
Ans: ₹86.70 = Eighty-six rupees and seventy paise.
3. Add rupees fifty-four rupees twenty paise and fifteen rupees.
Ans: ₹ 54.20 + ₹ 15 = ₹ 69.2
Practice Questions
Q1. Priya had ₹74 and her father gave her ₹50 more. How much money does she have now?
Ans: Priya has a total of ₹124 now.
Q2. Sony bought badminton for ₹250 and a ball for ₹80. How much amount of money did he spend in total?
Ans: Sony spent ₹330 in total.
Q3. Write the following amount in figures:
Seventy-four rupees and 60 paise.
Hundred rupees and 50 paise.
Ninety-six rupees and eighty-four paise
Ans:
₹74.60
₹100.50
₹96.84
Summary
Money is a form of currency and is used as a medium of exchange. We used to have a barter system in order to buy or sell goods and services before the concept of money was found. But money is used every day in our life, whether we are selling or buying anything. For example, buying a dress from a store or getting a tap fixed by a plumber, we need to pay money for it.
Therefore, it’s important for us to know how to add or subtract the amount of money. Also, collect the coins and try to add them at home. By solving the money chapter for Class 2 worksheet, you will get more clarity over the topic. So we would suggest you to go through it, and give it a try!
FAQs on Money Questions For Class 2 Practice and Word Problems
1. What are money questions for Class 2?
Money questions for Class 2 are simple maths problems that teach children how to count, add, subtract, and compare rupees and paise.
These questions usually include:
- Identifying coins and notes
- Adding amounts of money
- Subtracting money to find change
- Word problems based on buying and selling
2. What are the common Indian coins and notes taught in Class 2?
The common Indian currency taught in Class 2 includes basic coins and notes used in daily life.
Coins:
- ₹1
- ₹2
- ₹5
- ₹10
- ₹10
- ₹20
- ₹50
- ₹100
3. How do you add money in Class 2?
To add money in Class 2, add the rupees and paise separately and then combine the total.
Steps to add money:
- Write the amounts in columns (Rupees and Paise).
- Add the paise first.
- Add the rupees.
₹25 + ₹14 = ₹39
4. How do you subtract money to find the change?
To find change, subtract the cost price from the amount given.
Formula: Change = Amount Given − Cost Price
Example:
- Money given = ₹50
- Cost of item = ₹32
So, the shopkeeper returns ₹18 as change.
5. What is the relation between rupees and paise?
The relation between rupees and paise is 1 rupee = 100 paise.
This means:
- ₹2 = 200 paise
- 50 paise = 0.50 rupee
6. How do you convert rupees into paise?
To convert rupees into paise, multiply the number of rupees by 100.
Formula: Paise = Rupees × 100
Example:
- ₹7 × 100 = 700 paise
7. How do you solve money word problems for Class 2?
To solve money word problems, first understand what is given and what needs to be found.
Steps:
- Read the question carefully.
- Identify the amounts given.
- Decide whether to add or subtract.
- Write the final answer with the rupee symbol (₹).
8. How do you compare two amounts of money?
To compare two amounts of money, look at the rupees first and then the paise.
Steps:
- Compare the rupees.
- If rupees are equal, compare the paise.
- ₹45 and ₹38 → ₹45 is greater
- ₹20.50 and ₹20.75 → ₹20.75 is greater
9. Can you give an example of a simple money problem for Class 2?
Yes, a simple money problem for Class 2 involves basic addition or subtraction of rupees.
Example:
- Rita buys a toy for ₹30 and a book for ₹25.
This type of question improves addition skills using money.
10. Why is learning money important in Class 2 Maths?
Learning money in Class 2 Maths is important because it teaches children real-life skills like buying, selling, and calculating change.
It helps students:
- Understand the value of rupees and paise
- Improve addition and subtraction skills
- Solve daily life word problems
