Solving Money Problems and Rounding to Nearest 5 Cents (4)
Solve problems involving purchases and the calculation of change to the nearest five cents with and without digital technologies (ACMNA080)
LO: To solve problems involving purchases and the calculation of change to the nearest 5 cents.
How to use the 4 operations to solve money problems.
Australian money is divided into dollars and cents.
100 cents is equivalent to 1 dollar.
How to round numbers to the nearest 5 cents.
How to add and subtract decimal numbers.
The format of how money is written. eg.) 20 cents is written as $0.20.
That money, when given in change, is usually rounded to the nearest 5 cents.
I can solve problems involving purchases and calculate the change given to the nearest five cents.
Australian Coins and Notes
This picture shows all the different coins and notes of the Australian money system. In the Australian money system, we use two different units to represent money, they are dollars and cents. There are many ways to represent value. For example, you can make 1 dollar with, two 50 cent coins, five 20 cent coins, or two 20 cent coins, one 10 cent coin and one 50 cent coin.
Adding and Subtracting Money
When rounding money, always look at the cent place value.
If the cent place value is 1 or 2 then you round down to the nearest dollar. If the cent value is 3 or 4 then you round up to 5 cents. If the cent value is 6 or 7 then you round down to 5 cents. If the cent value is 8 or 9 then you round up to nearest 10 cents.