 Exchanging Money Maths Grade 2 | Orchids International School Money

Exchanging Money

• It is the process of changing one higher amount of note or coin with the lower amount of coins and notes while keeping the value of the money the same.
• There are many combinations possible for the exchange of money.

Let us discuss with an example.

Example: Now, Rs 2 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1

= Rs 2 + Rs 8 = Rs 10

Hence, Rani can give exchange of Rs 10 to Raju.

The below list is about some exchange of coins and notes.      There are many more combinations possible except the shown combinations for the exchange of Money.

Conversion from Rupee to Paisa

• To convert rupees to paise, multiply the amount by 100.

Example: Convert from rupees to paise.

(i) Rs 5

(ii) Rs 10. 45

(i) Rs 5 = 5 × 100 = 500 Paise

(ii) Rs 10. 45 = Rs 10 + 45 Paise

10 × 100Paise = 1000 Paise

So, 1000 Paise + 45 Paise = 1045 Paise

Conversion from Paise to Rupees

• To convert paise to rupee put ‘.’ before the second place from the right.

Example: Convert paise to rupees.

(i) 145 p

(ii) 1256 p

(i) 145p = Rs 1.45

(ii) 1256p = Rs 12.56

Exchanging Currency

• The process of changing one currency into another currency is called exchanging currency.

Example: This is the list of some currencies with their value in Indian currency on a particular day. Note: It keeps changing daily.   • -