Basic Arithmetic : Addition and Subtraction with Money
Study concepts, example questions & explanations for Basic Arithmetic
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Example Questions
Example Question #311 : Numbers And Operations
Henry had $538.23 in his checking account at the bank before he went shopping. At the mall, he spent $43.91 at one store and $71.84 at another store. How much money does Henry have left in his bank account?
$423.52
$422.84
$422.48
$423.48
$422.48
To find the difference, you must subtract. But first you must add the two amounts he spent at the mall:
Now subtract. Line up the numbers vertically. Remember to use the rules of borrowing to subtract.
Henry now has $422.48 in his bank account.
Example Question #12 : Addition And Subtraction With Money
Mark went to the grocery store to buy ingredients to make a cake. He bought eggs for $2.99, flour for $4.99, sugar for $3.99, and butter for $2.50. If he paid the cashier with a $20 bill, how much money did he recieve in change?
Since the question is asking how much money did Mark have left over, we need to subtract the cost of each item he bought from $20.
There are two ways of solving this problem:
- We can add up the cost of all the ingredients and then subtract the total cost from $20.00
- We can subtract the cost of each item from $20.00. Note, if we choose to solve the problem this way, we must follow order of operations and go from left to right
Example Question #11 : Money And Time
Sally bought 3 different picture frames and paid a total of $60. If the first frame cost $15 and the second frame cost $25, how much did the third frame cost?
In order to find out how much the third frame costs, we need to subtract the cost of the first two frames ($15 and $25) from the total amount ($60).
There are two ways to subtract the cost of the first two frames from the total amount:
Method 1
We can subtract the total amount spent on the first two frames from $60
Remember to follow Order of Operations (PEMDAS) and add the numbers in parenthesis first.
The cost of the third frame was $20
Method 2
We can subtract the cost of each frame from $60
The cost of the third frame was $20
Example Question #151 : Basic Arithmetic
Larry owes Jon $5.75. If Larry gives Jon a $10 bill and Jon gives him change in quarters, how many quarters does Jon give to Larry?
If Larry gives Jon a $10 bill to pay him back for $5.75, Jon will need to give Larry back 
If Jon gives the change in quarters, he will give him 
Example Question #21 : Money And Time
If Betty has 
If Betty has 
An easy way to do this is to first subtract 
Next, 
Therefore, Betty will have 
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