Challenging problems designed for high school students reviewing basic money concepts.
1. You buy a coffee that costs $4.75 and a muffin for $2.95. You give the cashier $20.00. How much change should you get back? Express your answer in dollars and cents, and show the most efficient coin combination for the change.
Show your work:
Cost of coffee: _________
Cost of muffin: _________
Total cost: ___________
Amount given: _________
Calculation: ___________
Answer: _____________
Cost of coffee: $4.75
Cost of muffin: $2.95
Total cost: $4.75 + $2.95 = $7.70
Amount given: $20.00
Calculation: $20.00 - $7.70 = $12.30
Answer: You should get back $12.30 in change. Most efficient: 12 dollar bills + 1 quarter + 1 nickel.
Advanced Change: Making change with multiple items and larger amounts
Change = Amount Paid - Total Cost of Items
2. You buy a textbook for $24.95 and a calculator for $18.75. Sales tax is 8%. You give the cashier $50.00. How much change should you get back?
Show your work:
Cost of textbook: _________
Cost of calculator: _________
Subtotal: ___________
Sales tax: ___________
Total cost: ___________
Amount given: _________
Answer: _____________
Cost of textbook: $24.95
Cost of calculator: $18.75
Subtotal: $24.95 + $18.75 = $43.70
Sales tax: $43.70 × 0.08 = $3.50
Total cost: $43.70 + $3.50 = $47.20
Amount given: $50.00
Answer: $50.00 - $47.20 = $2.80 in change
Total Cost with Tax: Sum of all items plus calculated sales tax
• Add up all item costs to find subtotal
• Calculate tax as percentage of subtotal
• Add tax to subtotal to get total cost
• Then subtract total from amount given
3. Show five different ways to make $4.67 using dollar bills, quarters, dimes, nickels, and pennies. Include at least one way that uses only bills and coins under $1.00.
Way 1: _________ dollar bills, _________ quarters, _________ dimes, _________ nickels, _________ pennies
Way 2: _________ dollar bills, _________ quarters, _________ dimes, _________ nickels, _________ pennies
Way 3: _________ dollar bills, _________ quarters, _________ dimes, _________ nickels, _________ pennies
Way 4: _________ dollar bills, _________ quarters, _________ dimes, _________ nickels, _________ pennies
Way 5: _________ dollar bills, _________ quarters, _________ dimes, _________ nickels, _________ pennies
Bonus: Which way uses the fewest coins?
Way 1: 4 dollar bills, 2 quarters, 1 dime, 1 nickel, 2 pennies ($4.00 + $0.50 + $0.10 + $0.05 + $0.02 = $4.67)
Way 2: 3 dollar bills, 6 quarters, 1 dime, 1 nickel, 2 pennies ($3.00 + $1.50 + $0.10 + $0.05 + $0.02 = $4.67)
Way 3: 2 dollar bills, 10 quarters, 1 dime, 1 nickel, 2 pennies ($2.00 + $2.50 + $0.10 + $0.05 + $0.02 = $4.67)
Way 4: 1 dollar bill, 14 quarters, 1 dime, 1 nickel, 2 pennies ($1.00 + $3.50 + $0.10 + $0.05 + $0.02 = $4.67)
Way 5: 0 dollar bills, 18 quarters, 1 dime, 1 nickel, 2 pennies ($0.00 + $4.50 + $0.10 + $0.05 + $0.02 = $4.67)
Bonus: Way 1 uses the fewest coins (9 total: 4 dollar bills + 2 quarters + 1 dime + 1 nickel + 2 pennies)
Advanced Coin Combinations: Different sets of bills and coins that add up to the same amount
Same amount can be made with different bill and coin combinations
4. Sarah starts with $100.00. She buys a backpack for $35.75, lunch for $12.45, and spends $8.30 on snacks. Then she receives $25.00 as a gift. How much money does she have now?
Show your work:
Starting money: _________
Backpack cost: _________
Lunch cost: _________
Snacks cost: _________
Total spent: ___________
Money after spending: ___________
Gift received: ___________
Final amount: ___________
Starting money: $100.00
Backpack cost: $35.75
Lunch cost: $12.45
Snacks cost: $8.30
Total spent: $35.75 + $12.45 + $8.30 = $56.50
Money after spending: $100.00 - $56.50 = $43.50
Gift received: $25.00
Final amount: $43.50 + $25.00 = $68.50
Answer: Sarah has $68.50 now.
Multi-Step Problems: Problems that require multiple calculations to solve
Solve step by step, keeping track of each calculation
5. Tom has 15 quarters, 12 dimes, 18 nickels, and 37 pennies. He wants to buy a video game that costs $8.95. Does he have enough money? If yes, how much change will he get? If not, how much more does he need?
Show your work:
Quarters value: _________
Dimes value: _________
Nickels value: _________
Pennies value: _________
Total money: ___________
Cost of game: _________
Answer: _____________
Quarters value: 15 × $0.25 = $3.75
Dimes value: 12 × $0.10 = $1.20
Nickels value: 18 × $0.05 = $0.90
Pennies value: 37 × $0.01 = $0.37
Total money: $3.75 + $1.20 + $0.90 + $0.37 = $6.22
Cost of game: $8.95
Answer: No, he does not have enough money. He needs $8.95 - $6.22 = $2.73 more.
Advanced Currency Conversion: Calculate total value of multiple coin types
Calculate value of each coin type separately, then add together
6. A customer pays $50.00 for items that cost $32.87. What is the most efficient way to give the change using the fewest coins possible? Include dollar bills and coins. Consider that the cashier wants to minimize the total number of bills and coins given as change.
Show your work:
Calculation: ___________
Most efficient way: ___________
Total bills and coins: ___________
Answer: _____________
Calculation: $50.00 - $32.87 = $17.13
Most efficient way: 17 dollar bills + 1 dime + 1 nickel + 3 pennies = $17.00 + $0.10 + $0.05 + $0.03 = $17.13
Total bills and coins: 22 (17 dollar bills + 1 dime + 1 nickel + 3 pennies)
Answer: The most efficient way is 17 dollar bills + 1 dime + 1 nickel + 3 pennies (22 total bills and coins).
Complex Efficiency: Using the fewest bills and coins possible to make change
Always start with the largest denomination first
7. Scenario A: Buy a pen for $2.95 with $5.00. Scenario B: Buy a notebook for $4.75 with $10.00. Scenario C: Buy a calculator for $12.80 with $20.00. Scenario D: Buy a book for $8.35 with $15.00. Which scenario gives the most change? Which gives the least? What is the average change across all scenarios?
Show your work:
Scenario A calculation: ___________
Scenario B calculation: ___________
Scenario C calculation: ___________
Scenario D calculation: ___________
Average change: ___________
Answer: _____________
Scenario A: $5.00 - $2.95 = $2.05
Scenario B: $10.00 - $4.75 = $5.25
Scenario C: $20.00 - $12.80 = $7.20
Scenario D: $15.00 - $8.35 = $6.65
Comparison: Scenario C gives the most change ($7.20), Scenario A gives the least ($2.05)
Average change: ($2.05 + $5.25 + $7.20 + $6.65) ÷ 4 = $21.15 ÷ 4 = $5.29
Answer: Scenario C gives the most change ($7.20), Scenario A gives the least ($2.05), and the average is $5.29.
Advanced Comparison: Calculating and comparing different change amounts
Calculate each scenario separately, then compare the results