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Subtracting Money

The concept of subtraction and addition of money and coins could be studied better with knowledge of decimals and places before and after the decimal.

Subtracting Money can be made in two easy methods

i. Subtracting in cents and

ii. Subtracting in dollars

Before going into subtracting money we need to know about few conversion values from pennies to cents and cents to dollars etc.

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How to Subtract Money?

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Combinations:

The American currency was basically divided into penny, nickel, dime, quarter, half dollar and dollar. These are represented as

Penny:

1 penny is worth 1 cent (1c)

Example:

5 pennies = 5 cents (5c)

Nickel:

1 Nickel worth 5 cents (5c)

Example:

3 Nickel = 15 cents (15c)

Dime:

1 Dime worth 10 cents (10c)

Example:

3 Dimes = 30 cents (30c)

Quarter:

1 Quarter worth 25 cents (25c)

Example:

2 Quarters = 50 cents (50c)

Half dollar:

1 Half dollar worth 50 cents (50c)

Example:

4 Half dollars = 2 Dollars ($ 2)

Dollar:

1 Dollar worth 100 cents (100c) or ($1)

Example:

5 Dollars = 500 cents (500 c) or ($ 5)

Examples of Subtracting Money

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Below are some examples based on subtracting money:

Solved Examples

Question 1: Subtract 5 cents from a Dollar, Specify the answer in dollars.
Solution:
 
1 Dollar = 100 cents

1 Dollar – 5 cents = 95 cents

= 0.95 dollars.
 

Question 2: Subtract Dollar 50.45 from Dollar 68.75
Solution:
 
68.75 – 50.45 = 18.30

= 18.30 dollars.
 

Question 3: 1600 cents – 1240 cents = ?
Solution:
 
1600 cents = dollar 16

1240 cents = dollar 12.40

Dollar 16 - dollar 12.40 = 16 – 12.40 = 3.60

= 3.60 dollars
 

Question 4: Dollar 18,34,678 – dollar 13,78,645 = ?
Solution:
 
 18,34,678

-13,78,645
------------------
    4,56,033
------------------

Dollar 18,34,678 – Dollar 13,78,645 = Dollar 4,56,033
 

Subtracting Money Word Problems

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Below you could see word problems on subtracting money

Solved Examples

Question 1: Jack has 23.00 dollar and spends 11.00 dollar on pencils. How much money does jack have left?
Solution:
Given jack has 23 dollars, he spend 11.00 dollar on pencils.
= 23 - 11
= 12

Amount left with jack is 12 dollars.

Question 2: Tom has 12 dollar, he spends 3 dollar on cake and 4 dollar on jelly. How much money does tom have left.
Solution:
 Tom has 12 dollar, he spends 3 dollar on cake and 4 dollar on jelly.
= 12 - 3 - 4
= 5 

Amount left with tom is $ 5.

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