Measurement-Money

Money is useful for purchasing things like chocolates, pencils, vegetables, etc. In India we have currency in rupees and paisa.

Here are some coins and notes we use in India: Conversion of Money: Here we will learn the ways to convert rupees into paisa and vice versa. Example 1: Convert 5.09 rupees into paisa

Solution: We know that 1 rupee = 100 paisa

Therefore, 5.09 rupee = 5.09×100 = 509 paisa

Example 2: Convert 78 paisa into rupees

Solution: We know that 1 paisa = 1/100 rupees

Therefore, 78 paisa = 78/100 = 0.78 rupee

Try These:

• Convert the following amounts into paisa:
1. 8.10
2. 0.95
• 12.24

• Convert the following amounts into rupees:
1. 775 paisa
2. 38 paisa
• 3099 paisa

Some Important Terms and Formulae

• Cost Price: The price at which an article is purchased, is called its cost price. It is denoted by CP.

• Selling Price: The price at which any article is sold, is called its selling price. It is denoted by SP

• Profit: When the SP is more than CP, profit exists. It is defined as the difference between SP and CP.

• Loss: When the CP is more than SP, then the article is sold at a loss. It is the difference between CP and SP. Example: Radhika bought a TV for Rs 23,500 and sold at a loss of Rs 4,780. Find the selling price.

Solution:  CP = Rs 23,500

Loss = Rs 4,780

SP = CP – Loss = Rs (23,500 – 4,780) = Rs 18,720

Practice Exercise Recap

• 1 rupee = 100 paisa
• Profit = Selling price – Cost Price
• Loss = Cost Price – Selling Price
• Profit % = [(Profit / CP)×100] %
• Loss % = [(Loss / CP)×100] %