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Rupees and Paise - Making Change

Grade 3CBSE

Review the key concepts, formulae, and examples before starting your quiz.

🔑Concepts

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Indian Currency Units: Indian money is measured in Rupees and Paise. The symbol for Rupee is ₹₹. Visualize a ₹1₹ 1 coin as being equal in value to two 5050 paise coins or four 2525 paise coins.

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Conversion Rule: There are exactly 100100 paise in 11 Rupee (₹1=100 paise₹ 1 = 100 \text{ paise}). To convert Rupees into Paise, you multiply the amount by 100100 or simply remove the decimal point and the ₹₹ symbol.

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Writing Format: Money is written using a dot (.) to separate Rupees from Paise. The numbers to the left of the dot represent Rupees, and the two digits to the right represent Paise. For example, ₹12.50₹ 12.50 shows 1212 Rupees and 5050 Paise. In a notebook, this looks like a clear division where the dot acts as a wall between the two units.

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Addition and Subtraction of Money: To calculate totals or change, align the dots (decimal points) vertically. This ensures you add Paise to Paise and Rupees to Rupees, just like columns in a place value chart. If the Paise total exceeds 9999, carry over to the Rupees column.

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Making Change: Making change is the process of finding the difference between the amount of money you give to a shopkeeper and the actual price of the item. Imagine handing over a ₹100₹ 100 note for a toy costing ₹75₹ 75; the money you get back is the change.

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Counting Forward Method: A simple way to find change without subtraction is to 'count up' from the price. If a chocolate costs ₹8.50₹ 8.50 and you pay ₹10.00₹ 10.00, count 5050 paise to reach ₹9.00₹ 9.00, then add ₹1₹ 1 to reach ₹10.00₹ 10.00. Total change = ₹1.50₹ 1.50.

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Denominations: Understand the different notes and coins available in India, such as ₹1,₹2,₹5,₹10,₹20,₹50,₹100,₹200₹ 1, ₹ 2, ₹ 5, ₹ 10, ₹ 20, ₹ 50, ₹ 100, ₹ 200, and ₹500₹ 500. Visualizing these helps in choosing the right combination of notes to pay for an item.

📐Formulae

1 Rupee=100 Paise1 \text{ Rupee} = 100 \text{ Paise}

Total Cost=Price of Item 1+Price of Item 2+…\text{Total Cost} = \text{Price of Item 1} + \text{Price of Item 2} + \dots

Change to be returned=Amount Paid−Total Cost\text{Change to be returned} = \text{Amount Paid} - \text{Total Cost}

Rupees×100=Paise\text{Rupees} \times 100 = \text{Paise}

💡Examples

Problem 1:

Rohan bought a toy car for ₹65.50₹ 65.50. He gave a ₹100₹ 100 note to the shopkeeper. How much change will he get back?

Solution:

Step 1: Identify the amount paid = ₹100.00₹ 100.00. Step 2: Identify the cost of the toy car = ₹65.50₹ 65.50. Step 3: Subtract the cost from the amount paid: 100.00−65.50100.00 - 65.50 \begin{array}{r@{\quad}l} 100.00 \\ - 65.50 \\ \hline 34.50 \end{array} Rohan will get back ₹34.50₹ 34.50.

Explanation:

To find the change, we subtract the price of the toy from the total money given. We add '.00' to 100100 to align the decimal points for the subtraction of paise.

Problem 2:

Sita buys a pen for ₹12.00₹ 12.00 and a notebook for ₹25.50₹ 25.50. She pays with a ₹50₹ 50 note. Calculate the change she receives.

Solution:

Step 1: Calculate the total cost of items: ₹12.00+₹25.50=₹37.50₹ 12.00 + ₹ 25.50 = ₹ 37.50 Step 2: Subtract the total cost from the amount paid (₹50.00₹ 50.00): 50.00−37.50=12.5050.00 - 37.50 = 12.50 Sita receives ₹12.50₹ 12.50 in change.

Explanation:

First, we find the total expenditure by adding the prices of the pen and the notebook. Then, we subtract that total from the ₹50₹ 50 note provided by Sita.