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:
- 8.10
- 0.95
- 12.24
- Convert the following amounts into rupees:
- 775 paisa
- 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] %