WORD PROBLEMS ON MONEY

Problem 1 :             

Sally earned $404 per week for 7 months of the year. Estimate the total amount of money she earned.

Solution:

Sally's earning per week = $404

1 month = 4 weeks

7 months = 28 weeks

= 28 (404)

= $11312

So, total amount of money she earned is $11312.

Problem 2 :                                   

If a baker sells 24 dozen rolls at 15 cents each, how much money does he receive?

Solution:                 

1 dozen = 12

Number of rolls = 24 (12)

= 288

Cost of 1 roll = $0.15

Total cost = 288 (0.15)

= 43.2

So, the amount he receives $43.2.

Problem 3 :

A women has $255 in her purse. She given $35 to each of her five children. How much money does she have left?

Solution:

Amount in her purse = $255

Number of children she has = 5

Amount has given for 5 children = 5 (255)

Amount left over = 255 - (5 × 35)

= 255 - 175

= $80

Problem 4 :

2/3 of an amount of money is $519.

Find:

a. 1/3 of money

b. the whole amount

Solution:

a)

Let x be the original amount.

2/3 of x = 519 ---(1)

Dividing by 2, we get

1/3 of an amount of money = 519/2

= $ 259.5

b) 2/3 of x = 519 ---(1)

Multiplying by (3/2) on both sides.

x = 519 (3/2)

= $778.5

Problem 5 :

2/11 of Jo's weekly earnings are paid as income tax. She has $666 remaining after tax. What is her total weekly pay?

Solution:       

Let x be Jo's weekly income.

2/11 of his earning are paid as income.

Remaining amount = 666

So, Jo's weekly earning is $814.

Problem 6 :

Jamil spent 1/4 of his weekly salary on rent, 1/5 on food, and 1/6 on clothing and entertainment. The remaining money was banked.

a. What fraction of Jamil's money was banked?

b. If the banked $138.00, what is his weekly salary?

c. How much did Jamil spend on food?

Solution:

Let x be his salary.

a)

b)

His salary is $360.

c)

Problem 7 :

Ken spent 1/4 of his money on Monday and 2/5 of it on Tuesday. What fraction of his money remains?

Solution:

So,7/20 of his money remains.

Problem 8 :

In order to bake cakes for the school fair, I buy 180 kg of flour at $0.84 per kg and 25 kg of sugar at $1.17 per kg. How much money have I spent?

Solution:

1 kg flour = $0.84

180 kg of flour = 180 (0.84)

= $151.2

1 kg of sugar = $1.17

25 kg of sugar = 25 (1.17)

= $29.25

Total spent for money = $151.2 + $29.25

= $180.45