An Introduction to Money
Money is the medium of exchange. When we buy something from the market we give money to the shopkeeper. Every country has its own currency. In simple language, currency is money. It can be paper or coin. In India, we have the Indian rupee as our currency.
Also, 1 Rupee = 100 Paise
Symbol of Rupee
In our country, we have coins of 1 rupee, 2 rupees, 5 rupees, 10 rupees and 20 rupees. There are some frequently used notes in India like 10 , 20, 50, 100, 200, 500, 2000.
Now in this article, you’ll learn about money chapter from Class 2 and to solve money questions, money word problems for Class 2 and much more!
What is the Concept of Money?
We can say that money can be used as a medium of exchange. Coins, notes, etc. are used to pay for services and items. We give money in return for anything like chocolates, cake, fruits, food, football, bat, racket, house, or anything which can be used for selling or buying. Money is used in the form of paper or coins; money is usually issued by a government and generally used at face value as a method of payment for things. It is defined as a widely accepted means of payment. Money is anything that can be easily used for goods and services.
The following questions are money questions for Class 2 which involve rupees and paise. So come let’s learn to solve the following:
Indian Currency Notes
Writing the Amount in Words and Figures
1. Ten rupees and fifty paise = ₹10.50
2. Twenty-six rupees and ten paise = ₹26.10
3. One hundred rupees and twenty paise = ₹100.20
4. Two rupees and five paise = ₹2.05
5. One rupee and two paise = ₹1.02
1. ₹10.15 = Ten rupees and fifteen paise
2. ₹15.15 = Fifteen rupees and fifteen paise
3. ₹5.05 = Five rupees and five paise
4. ₹50.50 = Fifty rupees and fifty paise
5. ₹40.50 = Forty rupees and fifty paise
Addition and Subtraction of the Amount of Money
1. Add one rupee 50 paise and 5 rupees
Explanation: Suppose you have 1 rupee and 50 paise with you. And your mother gives you 5 rupees. So the total amount that you have now will be 6 rupees and 50 paise.
2. Add five rupees and ten rupees
Explanation: Suppose your father gives you 5 rupees and your mother gives you 10 rupees. So the total amount you have now will be 15 rupees.
3. Subtract fifteen rupees from twenty-six rupees
Explanation: Suppose you have 26 rupees but then you gave 15 rupees to the shopkeeper to buy a pen, now you will be left with 11 rupees.
Money Word Problems
As we learned to add and subtract the amount of money, we’ll now focus on some money word problems for Class 2.
1. The cost of one pen is ₹10. What will be the cost of 7 such pens?
Solution: Cost of 1 pen = ₹10
So the cost of 7 such pens will be = the cost of 1 pen $\times$ number of pens needed
$= ₹ 10 \times 7$
$= ₹ 70$
The cost of 7 pens will be ₹ 70.
2. Your brother had 67 rupees with him. Then he gave 35 rupees to you. How much money is left with him now?
Solution: Money that your brother had ₹ 67
The amount that he gave you= ₹35
The total amount left with your brother = ₹ 67 - ₹ 35
= ₹ 32
Grade 2 Money Worksheets
Worksheet 1: Money Calculation
Money Calculation Worksheet
Fill in the blanks:
With ₹6, I can buy ____________.
With ₹16, I can buy ____________.
With ₹11, I can buy ____________.
With ₹7, I can buy ____________.
Worksheet 2: Count the money
Count the Money
Money Word Problem for Class 2
1. Riya bought a bar of chocolate for ₹10 and chewing gum for ₹2. How much money did she spend?
Ans: Price for the bar of chocolate = ₹10
Price of chewing gum = ₹2
Total amount Riya spent = ₹10 + ₹2
= ₹ 12
2. Write the amount ₹86.70 in words.
Ans: ₹86.70 = Eighty-six rupees and seventy paise.
3. Add rupees fifty-four rupees twenty paise and fifteen rupees.
Ans: ₹ 54.20 + ₹ 15 = ₹ 69.2
Q1. Priya had ₹74 and her father gave her ₹50 more. How much money does she have now?
Ans: Priya has a total of ₹124 now.
Q2. Sony bought badminton for ₹250 and a ball for ₹80. How much amount of money did he spend in total?
Ans: Sony spent ₹330 in total.
Q3. Write the following amount in figures:
Seventy-four rupees and 60 paise.
Hundred rupees and 50 paise.
Ninety-six rupees and eighty-four paise
Money is a form of currency and is used as a medium of exchange. We used to have a barter system in order to buy or sell goods and services before the concept of money was found. But money is used every day in our life, whether we are selling or buying anything. For example, buying a dress from a store or getting a tap fixed by a plumber, we need to pay money for it.
Therefore, it’s important for us to know how to add or subtract the amount of money. Also, collect the coins and try to add them at home. By solving the money chapter for Class 2 worksheet, you will get more clarity over the topic. So we would suggest you to go through it, and give it a try!
FAQs on Money Questions for Class 2
1. What is the currency of Japan?
The “Yen” is the currency of Japan.
2. How is Maths used in money?
Money Maths involves many of the Maths skills you learn in school, such as addition, subtraction, multiplication, division, fractions, decimals, and percentages. When you understand these Maths processes, you can use them to help you manage your money.
3. How do you compare money?
Start by comparing their largest place value (left number furthest to left), whichever value has the largest number at the highest place value, is the largest. If they have the same number, at the highest place value, move the second highest place value and compare that.