# Money Word Problems

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In money word problems, always read the question carefully. Think about the situation and determine what the problem is asking for.

## Important tips for solving money word problems

• Identify what the problem is asking you to find.
• Think through the situation.
• Decide if you need to add, subtract, multiply or divide.

Let's take a look at some examples :

### Example 1

Alicia is selling bracelets for \$3.50 each. If she sells 8 bracelets, how much money will she make?

When we think about the situation, we realize she'll make \$3.50 each time she sells a bracelet, and if she sells 8 of them, that's \$3.50 (8 times).

Can you tell whether we should add, subtract, multiply, or divide?

Well, we need to find what is \$3.50 (8 times) - so we'll multiply.

\$3.50 x 8 = \$28.00

So, Alicia earned \$28.00.

Does this make sense?

Yes, it's reasonable that 8 bracelets would be worth \$28.00. (If we had divided and gotten \$0.44, we would realize 44 cents is less than what one bracelet costs, and that answer doesn't make sense).

### Example 2

Brandon's dad took his family out to eat. The meals cost \$34.95 and the tax is \$2.10. His dad also wants to leave a tip of \$7.00. What is the total cost of the meal?

The word total is a big clue about whether we should add, subtract, multiply, or divide.

He paid \$34.95, then \$2.10, and \$7.00 more. What should we do?

\$34.95 + \$2.10 + \$7.00 = \$44.05

So, the total cost of meal is \$44.05.

Yes, if we estimate, the cost is around \$44 ( \$35 + \$2 + \$7). Our answer is very close to this.

### Example 3

Isaiah wants to buy a new sweatshirt that costs \$28.95. He has already saved \$23.80. How much more money does he need?

He already has \$23.80 and needs \$28.95.

So, should we add, subtract, multiply, or divide?

To find out how much more money does he need, we need to subtract:

\$28.95 - \$23.80 = \$5.15

So, Isaiah need \$5.15 more.

Yes, if he gets around \$5 more, he'll have the money he needs.

## Money Word Problems

• Read the question carefully and identify what the problem is asking you to find.
• Think through the situation.
• Decide if you need to add, subtract, multiply, or divide. 