Decimal and Money
Basics on the topic Decimal and Money
Decimals and Money – Introduction
Have you ever looked at a grocery bill? When you look at the monetary amounts, you will often see something like $3.52. This means that the price is between 3 dollars and 4 dollars. With decimal numbers like 3.52 you can indicate amounts between whole numbers. Did you know a decimal number is often represented as money? This is explained in our video lesson about money with decimal points. After the video, you can also find exercises and worksheets about money with decimals for fourth grade.
Decimals and Money – Place Value Chart
If you are not quite sure about money and decimals yet, have a look at the place value chart below. It can help you understand money in decimal form.
In this place value chart you can see an amount of money with decimal places. The hundreds place represents one hundred dollars, the tens place represents ten dollars, and the ones place represents one dollar. The decimal point separates dollars and cents. The tenths place represents ten cents and the hundredths place represents one cent.
Decimals and Money – Example and Practice
In this place value chart, showing a decimal number as money, there are no hundreds. Therefore, we start with the tens place value. There are sixty dollars in the tens place and three dollars in the ones place. For the cents, there are forty cents in the tenths place and two cents in the hundredths place. This means there are sixty-three dollars and forty-two cents in total, which is the same as sixty dollars plus three dollars, plus forty cents, plus two cents.
| T | O | . | T | H |
|---|---|---|---|---|
| 6 | 3 | . | 4 | 2 |
Decimals and Money – Summary
If you want to practice money with decimal places on your own, check out our interactive exercises and worksheets on decimals and money.
Transcript Decimal and Money
Zuri and Freddie have recieved their first pay check and need to deposit them! Upon closer inspection of their checks, they realize they don't know how much money they made because they do not understand the value of each digit. Let's help Zuri and Freddie learn all about place value, decimals and money. Dollars and cents are separated by a decimal. A place value chart can help to understand the relationship between decimals and money! The hundreds place represents one hundred dollars. The tens place represents ten dollars. The ones place represents one dollar. The decimal point separates the dollars from cents. We say and to represent the decimal point when talking about money. The tenths place can be thought of as one dollar divided into ten parts, and each part is equal to ten cents. The hundredths place can be thought of as one dollar divided into one hundred parts, and each part is equal to one cent. Let's look at an example. Freddy's paycheck has sixty-three dollars and forty-two cents. There are no hundreds, so start with the tens place value. The tens place value has a six, which represents six ten dollar bills or sixty dollars. The ones place value has a three which represents three one dollar bills, or three dollars. Now let's look at the decimal place values where cents represent parts of a whole dollar. The tenths place value has a four, which represents four ten cent coins, or forty cents. The hundredths place value has a two, which represents two one cent coins, or two cents! Sixty-three dollars and forty-two cents is the same as sixty dollars, plus three dollars, plus forty cents, plus two cents! Now that we have looked at place value, decimals, and money, let's help Zuri with her pay check! Her pay check has one hundred forty-two dollars AND thirty-five cents written on it. What is the value of the hundreds place? There is a one, which represents one hundred dollars. What is the value of the tens place? There is a four, which represents forty dollars. What is the value of the ones place? There is a two, which represents two dollars. What is the value of the tenths place? There is a three, which shows thirty cents. What is the value of the hundredths place? There is a five, which represents five cents. Since five pennies is equal to one nickel, we could also use a nickel here instead! One hundred forty-two and thirty-five cents is the same as one hundred dollars, plus forty dollars, plus two dollars, plus thirty cents, plus five cents! While Freddie and Zuri cash in their checks, let's review. Remember, a decimal separate dollars from cents. The hundreds place represents one hundred dollars. The tens place represents ten dollars. The ones place represents one dollar. The tenths place represents ten cents. The hundredths place represents one cent. "What should we do with our money?" "Shall we get ice cream?" "Yes a thousand times!" "Freddie, isn't that the ice cream truck that we work at?"
Decimal and Money exercise
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Freddie's payslip.
HintsUse a place value chart to help you.
In Freddie's payslip, the tens are the largest amount.
For example, if we were highlighting $31.86, we would highlight each value in these colors.
SolutionFreddie earned $72.64.
- The 7 is in the tens place and represents $70.
- The 2 is in the ones place and represents $2.
- The 6 is in the tenths place and represents 60 cents.
- The 4 is in the hundredths place and represents 4 cents.
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How much money has Zuri been paid?
HintsOn the payslip we can see Zuri's pay in digits and words.
- Digits: $162.57
- Words: One hundred and sixty-two dollars and 57 cents.
One hundred = $100. Where does this fit in the place value chart?
Look at the payslip. The first digit represents the greatest amount.
On the place value chart, the hundreds are the greatest amount.
SolutionZuri earned $162.57.
$162.57 has
- 1 hundred or $100
- 6 tens or $60
- 2 ones or $2
- 5 tenths or 50 cents
- 7 hundredths or 7 cents
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What is the value of each digit?
HintsHere we can see $118.76 in a place value chart. Use this to help you.
As an example, the 5 in $115.32 is in the ones place and is worth $5.
SolutionIn $118.76:
- There is a 1 in the hundreds place which is worth $100.
- There is a 1 in the tens place which is worth $10.
- There is an 8 in the ones place which is worth $8.
- There is a 7 in the tenths place which is worth 70 cents.
- There is a 6 in the hundredths place which is worth 6 cents.
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Can you find the matching pairs?
HintsPut the total into a place value chart to work out what each digit is worth.
For example, here we can see $\$$127.85 in the place value chart. There is a 1 in the hundreds column. That would mean that the matching addition sentence would start with $\$$100 + ...
Using the place value chart in the hint above, $\$$127.85 = $\$$100 + $\$$20 + $\$$7 + 80 cents + 5 cents.
Solution$\$$83.41 = $\$$80 + $\$$3 + 40 cents + 1 cents
- There is an 8 in the tens place which equals $\$$80.
- There is a 3 in the ones place which equals $\$$3.
- There is a 4 in the tenths place which equals 40 cents.
- There is a 1 in the hundredths place which equals 1 cents.
$\$$89.92 = $\$$80 + $\$$9 + 90 cents + 2 cents
- There is an 8 in the tens place which equals $\$$80.
- There is a 9 in the ones place which equals $\$$9.
- There is a 9 in the tenths place which equals 90 cents.
- There is a 2 in the hundredths place which equals 2 cents.
$\$$105.64 = $\$$100 + $\$$5 + 60 cents + 4 cents
- There is a 1 in the hundreds place which equals $\$$100.
- There is a 0 in the tens place which equals $\$$0, so we don't have a value for this in the addition sentence.
- There is a 5 in the ones place which equals $\$$5.
- There is a 6 in the tenths place which equals 60 cents.
- There is a 4 in the hundredths place which equals 4 cents.
$\$$137.04 = $\$$100 + $\$$30 + $\$$7 + 4 cents
- There is a 1 in the hundreds place which equals $\$$100.
- There is a 3 in the tens place which equals $\$$30.
- There is a 7 in the ones place which equals $\$$7.
- There is a 0 in the tenths place which equals 0 cents so we don't have a value for this in the addition sentence.
- There is a 4 in the hundredths place which equals 4 cents.
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Which item costs the most?
HintsUse a place value chart like this. Can you put the amounts into it and then compare them?
There are three amounts that have hundreds and one that doesn't. The one that doesn't cannot be the greatest amount.
Compare the tens place of the amounts left.
SolutionThe greatest value is $152.21.
$143.71 and $121.21 also have a value in the hundreds place but if we compare the tens place, 5 is the greatest, therefore $152.21 is the greatest amount.
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Can you order the values?
HintsCreate your own place value table like this one and add the values to it to help you. For some values, you will also need a hundreds column first.
Start comparing in the greatest place value and work towards the smallest place value.
For example, when we compare $\$$112.45 and $\$$102.13, we start comparing the largest place value, the hundreds. Here they are both 1 so we move on to the tens. There is a 1 in the first number and a 0 in the second number, so we know that the first number is bigger, as 1 is greater than 0.
Any values that don't have a digit in the hundreds place will be smaller than values that do have a digit in the hundreds place.
SolutionFrom smallest amount to greatest amount, the values are:
- $76.43
- $76.49
- $102.13
- $112.45
- $121.89
- $122.60
