Making Change Worksheets
If you go to the store, any store, and pay for something in cash, you will find in almost all case you will not have the exact amount to pay the store clerk. So, we overpay them. The clerk will then pay you back how much you overpaid. The clerk just made change for our purchase. What happens if you become a clerk? Yes, modern cash registers handle this nowadays, but what if the cash register was down or you were in a situation where there wasn't one? In this section we will help students feel more comfortable with these situations. Even though the world's currency is going much more digital these days, isn't it good to know if the computers are correct? These lessons and worksheets teach students how to make change for purchases that they or others make.
Aligned Standard: 4.MD.A.2
- Teddy Bear Step-by-Step Lesson- You buy a teddy with a Lincoln, how much change should you receive?
- Guided Lesson - Let's be honest, these are really word problems about making change from a total value.
- Guided Lesson Explanation - Find the total value by using all operations.
- Practice Worksheet - I used round values for the top line number to make it a little less challenging on this set.
- Matching Worksheet - Match the scenario to the value of the outcome. A good reminder for you.
- Making Change with Coins 5 Pack - This is all in word format to make it a thinking exercise.
- How Much Will You Get Back? 5 Pack - Yes, there is a lot of weird items in this one. That's me playing with clip art.
- What's your Change? 5 Pack - Very similar to the second five pack, but the items are a bit more regular, outside of the space shuttle (I meant the toy).
- Making Change For a Dollar Worksheet - I got a bit clip art happy again. I mean a fish for 89 cents, really!
- Answer Keys - These are for all the unlocked materials above.
Time to go shopping and figure out how much change you are due.
- Homework 1 - Addison has $4.00. He wants to buy a hockey puck for $2.00. Tell how much money he received back as change.
- Homework 2 - Keri purchased 2 sets of pens. She paid $10.00. Each pen set cost is $3.00. How much money will Keri get as change?
- Homework 3 - Camilla has 4 dollar bills, 3 quarters and 4 pennies. She gives $3.15 to her friend. Now how much money does she have?
This is a great real world skill to have. It is estimated that over the course of a lifetime people that are not diligent about checking the money that receive back in transactions, lose thousands of dollars.
- Practice 1 - Jessica has $8.00. She wants to buy a watch for $7.77. How much should she receive back?
- Practice 2 - Johnny has 6 dollar bills, 3 quarters and 2 pennies. He gives $2.35 to his buddy. Now how much money does he have?
- Practice 3 - Mary purchased 2 sets of pens. She paid $10.00. Each pen set costs $3.33. How much money will Mary expect to receive in return for this purchase?
Math Skill Quizzes
These quizzes will help you understand where your students are with this skill.
- Quiz 1 - Rosa has $6.00. She wants to buy a toy car for $2.65. How much money should she receive back?
- Quiz 2 - Holly has 8 dollar bills, 3 quarters and 2 pennies. She gives $4.66 to her friend. Now how much money does she have?
- Quiz 3 - Sam purchased 2 hair clips. He paid $15.00. Each hair clip costs $4.65. How much money will Sam get as change?
How to Hand Change Back to People
When teaching your kids about money, one of the most important concepts that you need to add into your discussion is that of giving back change to people. This happens when someone is paying you for something, but they do not have the exact amount. So, they pay you more than the cost and would like you to return the difference back to them. For a very simple example, if a friend buys a toy from you and the cost is $4. They give you a $5 bill. To make change ($5 - $4 = $1) you give them back a $1 bill. You could also pay them back in coins. The truth is that it does not matter what combination of bills or coins that you use as long you give them back exactly what they are owed. Many employers would like you to hand them back as few bills and coins as possible. This is because they only have a finite number of bills and coins each day that they get from the back, and they do not want to run out. It is one of the few money concepts that every kid must know before they step into the real world.
Start by introducing your kids with exactly what making change is. Change is the amount of money that you get back when you purchase an item. It is the money that is left once you subtract the cost of the item you purchased. Take your children to a grocery store and purchase an item. At the cash counter pay more than the item costs. For example, you purchase a book worth $5, you pay the cashier $20. The cashier will then return you $15. This is a great way that you can use to introduce your kids to the concept.
Teach the kids how to add and subtract using their fingers and mind. Once they have clear concepts of how to add and subtract values of money, they will understand how to hand change back to people. A technique that will help them correctly give back the proper amount of money. Purchase a toy from your kid and pay $10 to them. Ask them to give you the change. Now what they can do is they can start counting onwards from the cost of the item. If they toy is worth $5, ask them to count till they complete the amount you paid them. In this case they will have to continue counting on their fingers starting from 6 and end it at 10. The answer will be 5 and they can easily return the proper amount of money. Again, you can use either coins, bills, or a combination of them.