Exchanging Money Maths Grade 2 | Orchids International School
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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:

G2_1_Exchanging Money_concept

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.

G2_2_Exchanging Money_concept

G2_3_Exchanging Money_concept
G2_4_Exchanging Money_concept
G2_5_Exchanging Money_concept

G2_6_Exchanging Money_concept
G2_7_Exchanging Money_concept

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

Answer:

(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

Answer:

(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.

G2_8_Exchanging Money_concept

G2_9_Exchanging Money_Did you know

G2_10_Exchanging Money_Mind Map
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