Basic Arithmetic : Addition and Subtraction with Money

Study concepts, example questions & explanations for Basic Arithmetic

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Example Questions

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Example Question #1 : Addition And Subtraction With Money

Jane bought a pencil for , a skirt for , a coat for , and a headband for . How much did Jane pay in total for all the items she bought?

Possible Answers:

Correct answer:

Explanation:

Add up all the individual items.

Add

Example Question #2 : Addition And Subtraction With Money

Billy earned  for shoveling his driveway. He wants to buy a new toy and a candy bar, and then add the rest to his piggy bank. The new toy costs  and the candy bar costs  How much money will Billy have left over to add to his piggy bank?

Possible Answers:

Correct answer:

Explanation:

Billy had . After buying the toy he had  left over:

 .

After buying the candy bar he then had  left for his piggy bank,

 .

Example Question #3 : Addition And Subtraction With Money

John recently bought the following school supplies: a calculator for , a pencil bag for , a mechanical pencil for , and a set of pens for

How much did John spend in total on school supplies? 

Possible Answers:

Correct answer:

Explanation:

In order to solve this problem, you must add all of the costs of school supplies together. This can be done through the following equation: 

Therefore, the total amount that John spent on school supplies is

Example Question #4 : Addition And Subtraction With Money

Jenny has a new job at the mall. Her first paycheck was . She bought a pair of shoes for  and a new dress for  on the weekend. How much money from her first paycheck does Jenny have left on Monday?

Possible Answers:

Correct answer:

Explanation:

You must subtract the cost of the two purchases from the overall paycheck amount.

Begin by subtracting the shoe purchase from the total paycheck amount:

Then, subtract the cost of the dress: 

 is the amount of money Jenny has left from her paycheck on Monday.

Example Question #5 : Addition And Subtraction With Money

Approximately how much will John need to pay if a pair of shoes cost $42.64, a pair of pants costs $37.99, and a shirt costs $21.34.

Possible Answers:

$90

$120

$80

$100

$110

Correct answer:

$100

Explanation:

The key word, "approximately," indicates that we must round each of these values. Let's round to the nearest tens place because each of our answer choices is rounded to the tens place.

Shoes cost $42.64. 

$42.64 rounded (down) to the nearest tens place is $40.

Pants cost $37.99.

$37.99 rounded (up) to the nearest tens place is $40.

A shirt costs $21.34.

$21.34 rounded (down) to the nearest tens place is $20.

Let's add up our estimated prices.

$40 + $40 + $20 =

$100.

Example Question #6 : Addition And Subtraction With Money

Approximately how much will Sophie need to buy a shirt at $12.99, a loaf of bread at $3.99, and a television at $43.76?

Possible Answers:

$100

$60

$80

$61

Correct answer:

$61

Explanation:

Since we're looking for an approximate value, we need to round our numbers up. Adding the three items gives a total of $60.74, so at least $61 is needed - thus $61 is the correct answer.

Example Question #7 : Addition And Subtraction With Money

Laura is going bowling with her friends this weekend and she is using some of the money that she has saved up from allowance and her birthday. She will have to pay a flat fee of $8 to rent her shoes and $10.50 per game she bowls.  If she has planned to bowl 4 games and she is only taking $50 with her to the bowling alley will she have enough money?  If yes, how much money will she have when she leaves the bowling alley?

Possible Answers:

Yes,

Yes, None.

No

None of the other answers.

Yes,

Correct answer:

Yes, None.

Explanation:

The flat fee for the shoes will only be paid once since the shoes will be used for all four games.  The cost per game will be paid each time one game finishes and a new one is started.

To calculate her cost add the fee for the shoes and the fee for each game played.  That would be $8 (shoes) + $10.50 (game 1) + $10.50 (game 2) + $10.50 (game 3) + $10.50 (game 4) = $50 (total cost).

Laura had $50 with her so there was enough money and nothing left over when she left the bowling alley.

Example Question #8 : Addition And Subtraction With Money

Danielle buys four items costing , , , and . What is the estimated total of Danielle's items?

Possible Answers:

Between  and 

Between  and 

Between and 

Between  and 

Correct answer:

Between  and 

Explanation:

To solve this problem, one should round either to the tenths place, or to the nearest dollar.  can be rounded to ,  to ,  to , and  to . When one adds up the estimated costs, it yields about .

Example Question #9 : Addition And Subtraction With Money

Sam buys four items, costing , , and . What is the estimated cost of Sam's items?

Possible Answers:

Between  and  dollars

Between  and  dollars

Between  and  dollars

Between  and  dollars

Correct answer:

Between  and  dollars

Explanation:

In this problem, the costs of the items can be rounded to either the nearest dollar, or the nearest ten cents. 

 and  can be rounded to  and , respectively. 

 can be rounded to , and  can be rounded to .

When the new, estimated costs of the items are added, the sum is , which is between  and  dollars.

Example Question #10 : Addition And Subtraction With Money

George buys four items costing

Approximately how much does he pay in total?

Possible Answers:

Between  and 

More than 

Between  and 

Between  and 

Less than 

Correct answer:

Between  and 

Explanation:

First, add up all of the values:

Then, decide which of the answer choices approximates this value. Our answer is between  and .

Another way to solve this problem is to round the four values to their nearest whole numbers and then sum those rounded values:

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