Year 5 Maths: Money Problems

Understanding Money Problems

Hello Year 5! Today, we are going to explore money problems. Money problems are questions that involve buying, selling, or comparing amounts of money. This is a very important skill to have because we use money every day!

Key Concepts

1. Understanding Coins and Notes:
   • In the UK, we have coins (1p, 2p, 5p, 10p, 20p, 50p, £1, £2) and notes (£5, £10, £20, £50, £100).
   • Each coin and note has a different value.
2. Adding Money:
   • When you add money, you simply combine the values.
   • Example: If you have £2 and £3, you add them: $$£2 + £3 = £5$$
3. Subtracting Money:
   • When you subtract money, you take away from the total.
   • Example: If you have £5 and you spend £2, you subtract: $$£5 – £2 = £3$$
4. Finding Change:
   • When you buy something, you may need to find out how much change you should get back.
   • Example: If you buy something for £3 and you pay with a £5 note, you can find the change by: $$£5 – £3 = £2$$
5. Comparing Amounts:
   • You might need to compare two amounts to see which is greater or how much more one is than the other.
   • Example: If you have £4 and your friend has £2, you can see that: $$£4 – £2 = £2$$ (You have £2 more than your friend).

Tips and Tricks

• Keep a List: Write down the values of coins and notes to help you remember.
• Use a Number Line: This can help you visualize adding and subtracting money.
• Practice Counting: The more you practice counting money, the easier it will get!
• Check Your Work: After solving a problem, always check your answer to see if it makes sense.

Example Problems

Let’s solve a few example problems together:

1. You have £1 and 50p. How much money do you have?
   • $$£1 + 50p = £1.50$$
2. You bought a toy for £7 and paid with a £10 note. How much change do you get?
   • $$£10 – £7 = £3$$
3. You have £5 and your friend has £8. How much more money does your friend have?
   • $$£8 – £5 = £3$$

Practice Questions

Easy Level (20 Questions)

1. What is £2 + £3?
2. If you have 50p and you find another 20p, how much do you have?
3. You buy a drink for £1. How much is left from £2?
4. If you have £10 and you spend £4, how much do you have left?
5. You have 40p and your friend has 60p. Who has more money?
6. What is £5 + £2?
7. If you buy a book for £6 and you pay with a £10 note, how much change do you get?
8. You have £3 and you find £2. How much do you have now?
9. You have 10p and you need to buy a sweet for 5p. How much will you have left?
10. If you have £4 and your brother has £4, how much money do you have together?
11. What is 30p + 20p?
12. If you spend 50p from £1, how much do you have left?
13. You buy a toy for £3 and pay with £5. What is your change?
14. If you have £7 and your friend has £10, how much more does your friend have?
15. What is £2 + 50p?
16. You have £10 and buy lunch for £6. How much do you have left?
17. If you have 1p and you find 2p, how much do you have?
18. What is £1 + £1?
19. You have £5 and spend £3. How much do you have left?
20. If you have 20p and your friend gives you 10p, how much do you have now?

Medium Level (20 Questions)

1. If you have £3.50 and you spend £1.20, how much do you have left?
2. You buy two items costing £5 each. How much do you spend in total?
3. If you have £10 and you want to buy three toys costing £2 each, how much change will you have?
4. What is £7.50 – £2.30?
5. You have 75p and your friend has £1. How much more does your friend have?
6. If you buy a game for £15 and pay with a £20 note, how much change do you get?
7. You receive £5 for your birthday and spend £3. How much money do you have left?
8. If you buy 3 ice creams for £1.50 each, how much will it cost?
9. What is £20 – £7.50?
10. If you have £6 and your sister has £4, how much do you have together?
11. You buy a book for £8 and a pencil for £2. How much do you spend altogether?
12. If you have £5 and want to buy 4 sweets costing £1 each, how much money will you have left?
13. What is £4.75 + £2.25?
14. If you buy a toy for £10 and pay with £20, what change do you get?
15. You have £15 and spend £9. How much do you have left?
16. If you find 50p and then spend 20p, how much do you have?
17. What is £6.50 – £4.20?
18. You buy 2 packs of cards for £3.50 each. How much do you spend?
19. If you have £11 and give £5 to a friend, how much do you have left?
20. You buy two drinks for £2 each and a snack for £1. How much do you spend in total?

Hard Level (20 Questions)

1. If you have £25 and spend £7.85, how much do you have left?
2. You buy three books for £4.75 each. How much do you spend?
3. If you have £50 and pay for a jacket costing £29.99, how much change do you get?
4. What is £15.99 + £4.50?
5. You buy a game for £54.99 and pay with a £100 note. How much change do you get?
6. If you have £30 and want to buy four items costing £6.25 each, how much will you have left?
7. What is £22.50 – £15.75?
8. You buy a laptop for £399 and pay with a £500 note. How much change do you receive?
9. If you have £100 and spend £45.30, how much do you have left?
10. You buy three tickets for £8.75 each. What is the total cost?
11. If you have £60 and your friend has £45, how much more money do you have?
12. You buy a gift for £20 and a card for £2. How much did you spend in total?
13. If you have £40 and buy 5 items costing £8 each, how much change will you have?
14. What is £150 – £79.99?
15. You buy a phone for £199 and pay with a £300 note. How much change do you get?
16. If you have £25 and spend £10.50, how much do you have left?
17. You have £45 and want to buy 5 T-shirts costing £9 each. How much will you have left?
18. What is £89.99 + £10.01?
19. If you buy two pairs of shoes for £37.50 each, how much do you spend?
20. You have £500 and spend £120.50. How much do you have left?

Answers

Easy Level Answers

1. £5
2. 70p
3. £1
4. £6
5. Your friend has more money.
6. £7
7. £3
8. £5
9. 5p
10. £8
11. 50p
12. 50p
13. £2
14. £2
15. £2.50
16. £4
17. 3p
18. £2
19. £2
20. 30p

Medium Level Answers

1. £2.30
2. £10
3. £1 change
4. £5.20
5. £0.25 more
6. £5 change
7. £2
8. £4.50
9. £12.50
10. £10
11. £10
12. £1 left
13. £7
14. £10
15. £6
16. 30p
17. £2.30
18. £7
19. £6
20. £5

Hard Level Answers

1. £17.15
2. £14.25
3. £20.01
4. £20.49
5. £100 change
6. £1.00 left
7. £6.51
8. £101 change
9. £54.70
10. £26.25
11. £15 more
12. £22
13. £0 left
14. £70.01
15. £100 change
16. £14.50
17. £5 left
18. £100
19. £75
20. £379.50