Money
We need money to buy things. We use the term Currency also to mention money.
Indian Currency is called Rupees and Paise
Rupees is denoted by
- Indian Coins and Notes
- Exchange of Money
- Conversion of Rupees and Paise
- Adding Money
- Subtracting Money
Indian Coins and Notes
In India, commonly used coin denominations are 50 paise, 1 rupee, 2 rupee, 5 rupee and 10 rupee.
and commonly used note denominations are 5 rupee, 10 rupee, 20 rupee, 50 rupee, 100 rupee and 500 rupee.
Exchange of Money
We know, ₹ 1 = 100 p.
50 paise + 50 paise = 100 paise = ₹ 1
So you can exchange one 1-rupee coin with two 50-paise coins.
50 paise + 50 paise + 50 paise + 50 paise = 200 paise = ₹ 2
So you can exchange one 2-rupee coin with four 50-paise coins.
₹ 1 + ₹ 1 + ₹ 1 + ₹ 1 + ₹ 1 = ₹ 5
So you can exchange one 5-rupee coin with five ₹ 5 coins.
50 paise + 50 paise = 100 paise = ₹ 1
50 paise + 50 paise + 50 paise + 50 paise = 200 paise = ₹ 2
₹ 1 + ₹ 1 + ₹ 1 + ₹ 1 + ₹ 1 = ₹ 5
Conversion of Rupees and Paise
(i) Conversion of Rupees into Paise
To convert the rupees into paise,To convert the rupees and paise into paise,
| Money in Rupees | Money in Paise |
|---|---|
| ₹ 3 | 300 paise |
| ₹ 6 and 85 p | 685 paise |
| ₹ 2 and 100 p | 300 paise |
| ₹ 5 and 5 p | 505 paise |
| ₹ 1 and 5 p | 105 paise |
(ii) Conversion of Paise into Rupees
We know, ₹ 1 = 100 p.The last two digits represent paise. The other digits show the rupees.
When the paise is in hundreds, remove the two zeroes to get the amount in rupess.
| Money in Paise | Money in Rupees |
|---|---|
| 500 p | ₹ 5 |
| 250 p | ₹ 2 |
| 405 p | ₹ 4 and 5 paise |
| 450 p | ₹ 4 and 50 paise |
| 1000 p | ₹ 10 |
Adding Money
(i) Adding Paise
Adding paise is as simple as adding numbers. Since ₹ 1 = 100 p, if the sum is more than 100 paise, we need to express the answer in both rupees and paise.| Add | Sum |
|---|---|
| 25 p + 30 p | = (25 + 30) p = 55 p |
| 40 p + 50 p | = (40 + 50) p = 90 p |
| 50 p + 50 p | = (50 + 50) p = 100 p = ₹ 1 |
| 150 p + 140 p | = (150 + 140) p = 290 p = ₹ 2 and 90 p |
| 250 p + 250 p | = (250 + 250) p = 500 p = ₹ 5 |
(ii) Adding Rupees and Paise
To add money that contains both rupees and paise, add rupees and paise separately and combine. While adding the paise, if the sum is more than 100, convert it again to rupees and paise , then add the rupees to the sum of the rupees added already.| Add | Sum |
|---|---|
| ₹ 2 and 25 p + ₹ 3 and 30 p | = ₹ (2 + 3) and (25 + 30) p = ₹ 5 and 55 p |
| ₹ 1 and 40 p + ₹ 3 and 50 p | = ₹ (1 + 3) and (40 + 50) p = ₹ 4 and 90 p |
| ₹ 4 and 50 p + ₹ 2 and 50 p | = ₹ (4 + 2) and (50 + 50) p = ₹ 6 and 100 p = ₹ 7 |
| ₹ 1 and 150 p + ₹ 2 and 140 p | = ₹ (1 + 2) and (150 + 140) p = ₹ 3 and 290 p = ₹ 3 + ₹ 2 and 90 p = ₹ 5 and 90 p |
Subtracting Money
(i) Subtracting Paise
Subtracting paise is as simple as subtracting numbers.| Subtract | Difference |
|---|---|
| 30 p - 25 p | = (35 -25) p = 5 p |
| 50 p + 10 p | = (50 - 10) p = 40 p |
| 150 p + 50 p | = (150 - 50) p = 100 p = ₹ 1 |
(ii) Subtracting Rupees and Paise
To subtract money that contains both rupees and paise, first express each money in paise and subtract.| Subtract | Difference |
|---|---|
| ₹ 2 and 25 p - ₹ 1 and 30 p | = 225 p - 130 p = 95 p |
| ₹ 5 and 40 p - ₹ 3 and 40 p | = 540 p - 340 p = 200 p = ₹ 2 |
| ₹ 4 and 40 p - ₹ 2 and 50 p | = 440 p - 250 p = 190 p = ₹ 1 and 90 p |