Money for Class 3: Learn about Rupees and Paise with Easy Examples

Money for Class 3 is an important maths topic that helps children understand how we buy things, save money, calculate costs, and find change in daily life. This lesson on Money for Class 3 helps children develop practical mathematical skills through easy examples and everyday situations. Students will also learn how to add and subtract amounts of money and understand the value of different denominations.

Table of Contents

• What is Money?
• Relationship Between Rupees and Paise
• How to Write Money
• Adding Money
• Subtracting Money
• Finding Change
• Number Stories on Money

What is Money?

Money is what we use to buy goods and services. In India, money is measured in rupees (₹) and paise (p).

For example:

• A pencil may cost ₹5.

• A notebook may cost ₹25.

Money helps us pay for food, clothes, toys, books, travel, and many other things everyday.

The currency used in India is the Indian Rupee (₹).

Money is available in the form of:

Coins

Common coins are:

• ₹1

• ₹2

• ₹5

• ₹10

• 50 paise

Notes

Common notes are:

• ₹10

• ₹20

• ₹50

• ₹100

• ₹200

• ₹500

Relationship Between Rupees and Paise

The most important relation to remember is:

100 paise = ₹1

Converting Rupees to Paise

Multiply by 100.

₹5 = 500 p

₹12 = 1,200 p

Converting Paise to Rupees

Divide by 100.

400 p = ₹4

6,705 p = ₹67.05

5,678 p = ₹56.78

How to Write Money  

Money is written in the following format:

₹ Rupees.Paise

Adding Money

Adding money is similar to normal addition. We add the paise first and then the rupees.

Example 1: Add ₹10.53 and ₹43.42

   ₹10.53

+  ₹43.42

---------

   ₹53.95

₹10.53 + ₹43.42 = ₹53.95

Example 2: Add ₹125.75 and ₹243.50

    ₹125.75

+   ₹243.50

-----------

    ₹369.25

 

₹125.75 + ₹243.50 = ₹369.25

Example 3: A chocolate costs ₹15.50 and a juice costs ₹24.25. How much money is needed to buy both?

Solution: Cost of chocolate = ₹15.50

Cost of Juice =  ₹24.25

Total cost =  Cost of chocolate + Cost of Juice

   ₹15.50

+  ₹24.25

---------

   ₹39.75

Therefore,  ₹39.75 is needed to buy both.

Subtracting Money

Subtracting money is similar to subtracting numbers. Rupees and paise are subtracted separately.

Example 1: Subtract ₹12.91 from ₹94.63

   ₹94.63

-  ₹12.91

---------

   ₹81.72

₹94.63 - ₹12.91 = ₹81.72

Example 2: Subtract ₹145.25 from ₹300.00

   ₹300.00

-  ₹145.25

----------

   ₹154.75

₹300.00 - ₹145.25 = ₹154.75

Example 3: Rohan has ₹56.89. He spends ₹23.75 on a toy. How much money is left?

Solution: Amount of money Rohan had = ₹56.89

Amount spent by Rohan = ₹23.75

Amount of money left with Rohan = ₹56.89 - ₹23.75

   ₹56.89

-  ₹23.75

---------

   ₹33.14

 

 ₹33.14 is left with Rohan.

Finding Change

 When we pay more money than the cost of an item, the shopkeeper returns the extra money. This extra money is called change.

Example: 

A top costs ₹28.50.

Rohan gives ₹50.

Change received:

₹50.00 − ₹28.50 = ₹21.50

So, Rohan gets ₹21.50 back.

Number Stories on Money

Question 1. Riya bought a notebook for ₹45.50 and a storybook for ₹125.75. Find how much money she spent altogether?

Solution: Cost of notebook = ₹45.50

Cost of storybook = ₹125.75

Total money spent = Cost of notebook + Cost of storybook

   ₹45.50

+ ₹125.75

----------

  ₹171.25

In total Riya spent ₹171.25.

Question 2. A toy car costs ₹78.75. Meera gave the shopkeeper ₹100. How much change should she get back?

Solution: Cost of toy car = ₹78.75.

Money give by Meera = ₹100

Change = ₹100 - ₹78.75 =   ₹21.25

   ₹100.00

-   ₹78.75

----------

    ₹21.25

Question 3. Mayank bought a pastry for ₹45 and a bar of chocolate for ₹35.50. What is the total amount paid by Mayank? 

Solution: Cost of pastry = ₹45.00

Cost of chocolate = ₹35.50

   ₹45.00

+  ₹35.50

---------

   ₹80.50

Therefore, the total amount paid by Mayank is ₹80.50.

Question 4. Rohan bought a top for ₹28.50. He gave ₹50 to the shopkeeper. How much money did he get back?

Solution: Money given = ₹50.00

Cost of the top = ₹28.50

   ₹50.00

-  ₹28.50

---------

   ₹21.50

Rohan got ₹21.50 back from the shopkeeper.

 

Here's a set of questions for practice. Solve them in a notebook with a proper layout.

Worksheet on Chapter 9: Money for Class 3