16 money word problems with solutions and answers (per class) (2023)

Build students' money-related life skills as well as work on math concepts with real-life money problems with solutions and answers.

Bell rings, math centers, classroom money pickles, daily warm-ups...

Or make them the highlight of your 30-minute personal finance session – use whatever time you have.

The interesting thing about using money problems andconsumer math worksheetsis that you are giving your students an opportunity to practice life skills in math and money that they will be able to use in “real world” nature (like the grocery aisle).

Incredible! Let's dig.

Money problems with solutions and answers

Problems with money words can start as early as 2^{Dakota do Norte}degree with simple addition and subtraction.

And they get more and more complex: two steps, then multiple steps, and more complex thinking as students progress through elementary school and then high school.

We'll start with the easiest money problems and move on to the more complex ones, by degree.

Psst: Do your students need a refresher on how to count money or identify coins? here they are freesecond grade money worksheets,14 money counting games, and a lot offree math worksheets for consumers.

Word Problems About Money 3rd Grade

Although there is no mention of money forGrade 3 Common Basic Standards, you can combine several of the mathematical patterns with money problems.

Teaching math to students Emoney life skillsat the same time?#victorious.

For example:

• Number and operations in base ten (CCSS.MATH.CONTENT.3.NBT.A.2): Add and subtract within 1000 fluently using strategies and algorithms based on place value, properties of operations, and/or the relationship between addition and subtraction.
• Operations and algebraic thinking (CCSS.MATH.CONTENT.3.OA.D.8): Solve word problems in two steps using the four operations. Represent these problems using equations with one letter representing the unknown quantity. Evaluate the reasonableness of answers using mental math and estimation strategies, including rounding.

Here are some money problem worksheets to help your students practice these concepts.

1.Money + Treasure Hunt Task Cards

This free set of money task cards has mostly one step money word problems.

You can cut them out and do a scavenger hunt around the room to get students up and moving. Or she has lots of other ideas on how to use them. There is also a worksheet that asks students to create their own money problem using specific values.

Very useful!

2.Buying money word problems

Scroll down this page and you will find a nice collection of word problem worksheets to buy money for free.

Students will work through:

• Add the cost of items ordered from a menu
• Calculation of your change after an order
• Sales tax calculation

They also have some good free worksheets on wage problems, simple and compound interest calculation problems, etc.

Tip: There are also worksheets for higher grades.

Two step money problems for 3^thirdqualifiers

You've probably seen that third graders must solve word problems in two steps.

Two step money problems require two calculations to complete. They are not entirely simple: your students will need to think about things a bit more before they find the correct answer.

3.Money problems within $100

Get your free set of 5 two-step money problems under $100. Each word problem has space to draw and solve the problem.

4.Simple two-step money problems

Here is a three-page set of two-step money problems that have students add up their total expenses and then calculate how much change they should get.

There are spaces for students to solve each of the two steps.

Tip: This is a free set of money problems, but you will need a free Teachers Pay Teachers account to access it.

5.August Troubleshooting Path Worksheets

I love the real-world approach this word problem pack takes.

She includes a math journal for each problem (there is a money problem and the rest are word problems involving other common basic patterns for 3^thirdgraders) and a rubric on the math journal sheet so you can easily grade based on student work.

There is a US version and a UK version.

6.Two Simple Two Step Money Problems

And here's another set of two-step money problems for 2^{Dakota do Norte}-4^hequalifiers Again, children are asked to add up the total cost of items purchased and then calculate how much change they would receive.

7.I can buy? word problems

If you're looking for an easier set of two-step word problems for your student group, check them out.

8.Mixed one-step and two-step money problems

Here is a simple worksheet that has a combination of 2 step and 1 step money problems for 3^thirdqualifiers The theme revolves around ordering food.

Money Problems with 5th Grade Solutions and Answers

There are no Common State Standards for Mathematics (CCSSM) specifically for monetary mathematics at the fifth-grade level.

However, you can relate CCSSM math concepts to real-life financial scenarios with these money problems.

Teaching math to students Emoney life skillsat the same time?#victorious.

For example:

• Number and operations in base ten (CCSS.MATH.CONTENT.5.NBT.B.5 – B.7): Students should be able to perform operations with multi-digit integers and decimals to hundredths (an essential skill when working with money).
• Operations and algebraic thinking (CCSS.MATH.CONTENT.5.OA.A.2): Students should be able to understand and write expressions and equations and solve math and real-world problems using addition, subtraction, multiplication and division.

1.Bertie's Great Victory

Students are tasked with figuring out how much money Bertie won in the lottery, based on the fractional amounts he spent on various things (such as a house, a trip to space, a luxury yacht, etc.).

An answer sheet is included, which is good, because it's hard!

Hint: they say on the web that the 4^hegrade versions of your money problems are a little easier than grade 5 versions^hefirst grade, so you might want to try them out if that seems too difficult for your class.

2.Healthy Eating Worksheets, YMI Healthy Budget

Get your free teaching kit (for grades 3-5, then 6-8) that combines healthy eating lessons with 5 financial math problems you would encounter in the real world.

For example, the first word problem asks students to plan a meal for two using chicken as the base. They are given the serving size for each person, then given two different options to buy, and asked to figure out which one is better for the money (by calculating the cost per unit and comparing it to what they get).

Answers and explanations are provided.

3.Mixed Practice Word Problems About Money

Students are given three paragraphs describing a real-life scenario that will cost money. Students answer a series of questions below and will need to use various types of calculations to solve them (subtraction, addition, multiplication, etc.).

Tip: This is a free set of money problems, but you will need a free Teachers Pay Teachers account to access it.

4.Treasure Your Power Word Problems

Here is a set of math worksheets related to household electricity use.

In the first activity, students are asked to decipher a light bill. They will record the kilowatts used for each month of the year and answer a series of questions based on this information (such as calculating an average monthly cost).

There is also a Treasure Your Power assessment worksheet that students can take home as a family challenge.

Hint: it says it's for 4^hedegree - but I suspect this would be great for about 5^heclass students anyway.

5.PBL Thanksgiving Dinner

This project for grades 3-5 starts with the following driving question:

“I need to feed my family of six for Thanksgiving. For my meal, I need a starter, a main, two sides, a dessert and a drink (at least). I have $175 to spend on all the ingredients and decorations I want. What should I do?

Students are tasked with creating a meal plan, recipes, and a priced shopping list.

Tip: You'll need a free ShareMyLesson.com account to download this free lesson plan and rubric.

Advanced Money Problems for Older Students

Do you have a group of high school students or advanced high school students to find money problems? These multi-step money problems and money thinkers can be perfect.

Word Money Problem #1: Decoding Sales Ads

money lesson: Ads are not always true or as good as they seem at first glance.

Norgay Sherpa, a powerful Everest climber who has personally climbed to the top of Everest three times (called a summit), saw a TV commercial for a pair of Black Diamond Trail Pro Shock Trekking Poles. They have non-slip handles + they are foldable (something that would be very useful on future climbs).

You want to buy them, but you're confused about how much their total cost will be. Here are the details for a pair of trekking poles:

• Two easy payments of $127.05
• $9.95 Shipping and Handling
• Get an extra pair free (amazing deal!), just pay Shipping & Handling (S&H)

What will the total cost of Sherpa Norgay be?

Responder: $274. The way to get there is by adding up the two "easy payments" of $127.05 + $127.05 + $9.95 Shipping & Shipping + $9.95 Shipping & Shipping (for the second "free" pair ").

Money problem #2: Snafu car insurance

money lesson: How auto insurance works.

One of his expedition companions, Sandy, is faced with a financial dilemma. She called her husband on the base camp satellite phone and learned that he had been in a car accident. Don't worry, he's fine! But her family car appears to have had an avalanche.

Here are the details:

• The accident was your husband's fault, which means he hit the other car.
• Your family has an automobile liability insurance policy that covers both vehicles.
• They pay a monthly premium of $96/month.
• They took the vehicle to a repair shop and the budget to fix their car is $875.
• They have a $500 car insurance deductible.

How much will Sandy and her family cost this out-of-pocket car repair?

Responder: $875. They don't have comprehensive auto insurance, and liability insurance just means they'll pay for repair costs on the other person's car, but not their own car. So they are left to pay the full $875.

Money Word Problem #3: Mixing Foreign Currencies

money lesson: How to calculate the value of a US dollar against one of the 168 other world currencies.

Mingma Sherpa has been an excellent partner for your expedition team. He fulfilled all his obligations to help him on Everest, such as setting up his tents and cooking some of his meals, and received 360,908.33 Nepalese rupees for doing so.

It is common courtesy to tip your Sherpa, especially when he has done a great job. If I gave Mingma a tip of 51,593.24 Nepalese rupees, how many dollars would that be?

Assume that 1 US Dollar = 103,186 Nepalese Rupees.

Responder: $500 US dollars. That's 51,593.24/103,186.

Hope you found some useful money problems with solutions and answers. I think this could open up some fun and useful discussions with and among students that will help them manage their money like adults.