Word Problems: Comparing Money
Basics on the topic Word Problems: Comparing Money
Comparing Money
Imagine this: You are saving up money for something you want to buy. You check your piggy bank and you want to know how much money you have already saved. To find out, you need to count your money. Let’s figure it out by learning about comparing money.
What is Comparing Money?
When you compare something, such as money, we are trying to examine the quantities or values to decide if it is greater than, less than, or equal to. We can use the greater than less than or equal to symbols when comparing money.
The next section will explain comparing money amounts.
Comparing Money – Counting Amounts
The first thing you need to do is to count each bill and coin to see how much money you have in your piggy bank. That means we will practice adding and comparing money.
Let’s look at what’s inside Zuri’s piggy bank first and write an equation. Zuri's piggy bank has two twenty dollar bills, a five dollar bill, four dollar bills, three quarters, and three pennies. The illustration below shows the equation:
First, add up the dollars, then add up the cents to get the total forty-nine dollars and seventy-eight cents.
Now, let’s calculate Freddie’s money. Freddie's piggy bank has a twenty dollar bill, two ten dollar bills, nine dollar bills, three dimes, four nickels, and one penny. The illustration below shows the equation:
First, add up the dollars, then add up the cents to get the total forty-nine dollars and fifty-one cents.
Comparing Money – Comparing Values
Now that we know each amount they have, let’s practice comparing money values!
Start by comparing the greatest place value, the tens place. Since they each have a four in the tens place, or forty dollars, we move on to the ones place.
Since they each have a nine in the ones place, we move on to the tenths place.
In the tenths place Zuri has a seven, and Freddie has a five which means forty-nine dollars and seventy-eight cents is greater than forty-nine dollars and fifty-one cents!
Comparing Money – Summary
Remember, we can use the greater than, less than, or equal to symbols when comparing money. When you want to compare money and you know the amount of money that you have, these steps are helpful:
| Step # | What to do |
|---|---|
| 1 | Start with the greatest place value and compare. |
| 2 | If the place value digits are equal, move to the next place value and compare. |
| 3 | If the next digits are equal, keep moving to the next place value until you find two different numbers to compare. |
| 4 | Finally, compare using the greater than, less than, or equal to symbol. |
Want some more practice comparing money after the comparing money video? On this website there is a comparing money amounts worksheet, comparing money worksheets, and comparing money amounts worksheets along with other activities, and interactive exercises.
Transcript Word Problems: Comparing Money
"Wow Zuri, I can't believe someone would throw these away!" "I know! Mine is so heavy, there must be a lot of money in here!" "No way, mine has more money because it's MUCH heavier!" "HMPH! There's only one way to settle this (...) let's count it and compare!" Word Problems: Comparing Money We can use the greater than (...) less than (...) or equal to symbols when comparing money. Keep in mind that dollars are whole numbers (...) and cents are fractional parts of a whole. Let's take a closer look at this scenario as a word problem. In order to solve, first read the word problem. As you read, think; 'what do I need to find?'... and highlight the question you need to solve! Zuri and Freddie have each found a piggy bank. Zuri's piggy bank has two twenty dollar bills, a five dollar bill, four dollar bills, three quarters, and three pennies. Freddie's piggy bank has a twenty dollar bill, two ten dollar bills, nine dollar bills, three dimes, four nickels, and one penny. Whose piggy bank has more money? Here we highlight, Whose piggy bank has more money?... because it asks us to find whose piggy bank has the GREATER amount. Now, reread and think: 'What is the important information?' While rereading, highlight keywords, numbers, or units of measurement, that will help answer the question about which one has more. In the second sentence... highlight two twenty dollar bills, a five dollar bill, four dollar bills, three quarters, and three pennies, (...) because this tells us the money Zuri has. In the next sentence, highlight a twenty dollar bill, two ten dollar bills, nine dollar bills, three dimes, four nickels, and one penny, (...) because this tells us the money Freddie has. Next, identify the operation. We need to compare the amount of money they have, but first we need to see how much money they EACH have in total. What operation do we use? (...) In total' is a keyword that tells us to ADD. We write an equation for Zuri's money first. Then, solve the equation. FIRST add up the dollars, (...) then add up the cents. How much money does she have? (...) Zuri has forty-nine dollars and seventy-eight cents. Let's calculate Freddie's money... first write the equation. Then, solve the equation. FIRST add up the dollars, (...) then add up the cents. How much money does he have? (...) Freddie has forty-nine dollars and fifty-one cents. Now that we know how much money they EACH have, let's compare! Start by comparing the greatest place value, the tens place. Since they each have a four in the tens place, or forty dollars, we move on to the ones place. What do you notice about the ones place? (...) They each have a nine in the ones place, so we move on to the TENTHS place. Which numbers are in the TENTHS place? (...) Zuri has a seven (...) and Freddie has a five which means... forty-nine dollars and seventy-eight cents is GREATER THAN forty-nine dollars and fifty-one cents! Before we see what they spend their money on, let's summarize. Remember (...) we can use the greater than (...) less than (...) or equal to symbols when comparing money. First, start with the greatest place value and compare. If the place value digits are EQUAL, move to the next place value and compare. If the next digits are equal, keep moving to the next place value until you find two different numbers to compare. Finally, compare using the greater than, less than, or equal to symbol. "I'm so happy that we put our money together and got the pool we've been wanting!" "Heh heh, yeah Zuri..." "Is everything okay, Freddie?" "What if I told you I don't know how to swim..." "Oh Freddie! (...) The water only goes up to your ankles!"
Word Problems: Comparing Money exercise
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Match the symbol to its meaning.
HintsRemember, the opening faces the larger number, both when we use the greater than symbol and when we use the less than symbol. The opening always faces the bigger number, and we read it left to right.
Look at this example of nine being greater than three: 9 > 3
SolutionThese symbols show greater than, less than, and equal to. We see these symbols when we compare numbers.
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Add the dollars and cents together.
HintsRemember, add the dollar amount first. Then, add the cents.
Once you have counted the dollars, remember to count up the cents starting at the largest number.
SolutionThey earned $7.13.
We count 5 + 1 + 1 dollars, so we know the dollar amount is $7.
We count 10 + 1 + 1+ 1 cents, which makes $00.13 cents.
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Use <, >, and = correctly.
HintsRemember, start by comparing the greatest value. If the largest digit is the same, move to the next place value until you get two different numbers.
Remember, the opening always faces the larger number.
Remember, the = sign means both numbers have equal amounts.
SolutionThe greater than sign (>) shows the larger number, the less than sign (<) shows the smaller number, and the equal sign (=) shows the numbers are the same.
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How much money does Freddie have?
HintsRemember, add the dollar bills together first, then add the coins.
SolutionFreddie has __USD__38.51.
His three ten dollar bills equal __USD__30.00, his one five dollar bill equals __USD__5.00, and his three one dollar bills equal __USD__3.00. __USD__30.00 + __USD__5.00 + __USD__3.00 = __USD__38.00
Then, we add the cents. One quarter equals 25 cents, two dimes equals 20 cents, and six pennies equals 6 cents. 25 + 20 + 6 = 51 cents
We add the __USD__38.00 to the 51 cents to make __USD__38.51.
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Highlight the question you need to solve.
HintsRemember, think about what the word problem is asking you to solve.
Look for the question mark (?) to find the question this problem is asking you to solve.
SolutionThe question this word problem is asking you to solve is: whose piggy bank has more money? This tells us what to focus on, and that we will be counting and comparing.
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Count and compare.
HintsRemember, add the dollars first, then add the cents.
Remember, go through the totals using place value to see which amount is greater.
SolutionZuri has __USD__43.26 in the piggy bank, and Freddie has __USD__41.45 in the piggy bank. They both start with 4, so we move to the next digit. Zuri has 43, and Freddie has 41. Since 3 is greater than 1, we know that Zuri has the greater amount of money.
This vid was very helpful to me and help me understand the basics of money