Learn how to count money | Grade 1 | Learning Concepts
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Money

Counting Money

We have learned about Indian currency – ‘Indian rupee’.

Coins:

All coins are made up of metals. In India, ₹1, ₹2, ₹5, ₹10 and ₹20 coins are in circulation.

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  • From the above, we can clearly see the denomination of coins is written on it. Therefore, we can easily identify the coins.

Notes:

In India, ₹5, ₹10, ₹20, ₹50, ₹100, ₹200, ₹500, ₹2000 notes are in circulation.

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  • On each and every note, the denomination is printed on it. So, we can easily identify the value of the note.

Counting Money

Now, let’s learn how to count the money.

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Here, there is only one coin of ₹1. So, the amount is ₹1.

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Here, there are two coins of ₹1. Add the number 1 two times, we get:

1 + 1 = 2. So, the amount is ₹2.

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Here, there is only one coin of ₹2. So, the amount is ₹2.

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Here, there are two coins of ₹2. Add the number 2 two times, we get:

2 + 2 = 4. So, the amount is ₹4.

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Adding ₹1 and ₹2, we get:

1 + 2 = 3. So, the total amount is ₹3.

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Here, add the numbers 5 and 10, we get:

5 + 10 = 15

So, the total amount is ₹15.

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How to count the money for buying something?

  • We use the money for buying something that we want.
  • So, we have to count the money equal to the cost of that thing. But we have a fixed value of currency coins and notes, so sometimes we can’t count the money exactly equal to the cost of that thing.
  • To count the money, basically we use addition and subtraction.

Example 1:

A boy wants to buy a pencil that cost is ₹5.

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How can he give the amount of ₹5?

Solution:

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He can count ₹5 in different ways.

Example 2:

Mini has Rs. 10 note, she wants to buy an ice-cream. The cost of ice-cream is Rs. 15. Can she buy the ice-cream with the money she has?

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Solution:

Mini has = ₹10

Cost of the ice-cream = ₹15

10 is less than 15. So, she has less amount of money.

Mini can’t buy the ice-cream.

Example 3:

Jenny wants to buy a balloon. She has a ₹20 note. When she gives that note to the shopkeeper, he returns ₹10. What is the cost of that balloon?

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Solution:

Jenny has spent some money buying a balloon which means she gave some amount of money to the shopkeeper. So, here we have to subtract that money.

We will do subtraction here.

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She has now ₹10. She spent ₹10. So, the cost of a balloon is ₹10.

  • When we spent some amount of money or take away some amount of money, to find the left amount we need to do subtraction.
  • We use here, give and take money method.
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