Solved Exercises on Money Word Problems All Operations in Grade 3

Master all operations in money calculations: addition, subtraction, multiplication, and division through these 5 detailed exercises.

Solution: Exercises 1 to 3
1 Addition Problem
Exercise 1
Emma saved $4.75 last week and $3.25 this week. How much money did she save in total?
Definition:

Addition: Combining two or more amounts to find the total

Addition method:
  1. Align decimal points when adding dollars and cents
  2. Add the cents column first
  3. Add the dollars column
  4. Carry over if necessary
First Week
$4.75
Second Week
$3.25
Total
$4.75 + $3.25 = $8.00

Operation: Addition (+)

Step 1: Write amounts vertically

$4.75
+ $3.25

Step 2: Add the cents

75¢ + 25¢ = 100¢ = $1.00

Step 3: Add the dollars

$4 + $3 + $1 (carried over) = $8

Step 4: Combine dollars and cents

$8 + $0.00 = $8.00

$4.75 + $3.25 = $8.00
Final answer:

Emma saved $8.00 in total

Applied rules:

• Decimal Alignment: Align decimal points when adding

• Carrying: When cents exceed 100, carry over to dollars

• Verification: $8.00 - $3.25 = $4.75 ✓

2 Subtraction Problem
Exercise 2
Marcus had $10.00. He spent $6.45 on a video game. How much money does he have left?
Definition:

Subtraction: Taking away one amount from another

Starting Amount
$10.00
Amount Spent
$6.45
Remaining
$10.00 - $6.45 = $3.55

Operation: Subtraction (-)

Step 1: Write amounts vertically

$10.00
- $6.45

Step 2: Borrow if needed

$10.00 becomes $9.100¢ (since we need to borrow)

Step 3: Subtract the cents

100¢ - 45¢ = 55¢

Step 4: Subtract the dollars

$9 - $6 = $3

$10.00 - $6.45 = $3.55
Final answer:

Marcus has $3.55 left

Applied rules:

• Borrowing: When subtracting, borrow from the next place value

• Decimal Alignment: Align decimal points when subtracting

• Verification: $3.55 + $6.45 = $10.00 ✓

3 Multiplication Problem
Exercise 3
Sarah earns $2.50 each day for 4 days. How much money does she earn in total?
Definition:

Multiplication: Repeated addition of the same amount

Daily Earnings
$2.50
Number of Days
4
Total Earnings
$2.50 × 4 = $10.00

Operation: Multiplication (×)

Step 1: Identify the repeated amount

Sarah earns $2.50 each day

Step 2: Identify the number of times

She works for 4 days

Step 3: Multiply

$2.50 × 4 = $10.00

Step 4: Check with addition

$2.50 + $2.50 + $2.50 + $2.50 = $10.00 ✓

$2.50 × 4 = $10.00
Final answer:

Sarah earns $10.00 in total

Applied rules:

• Repeated Addition: Multiplication is adding the same number multiple times

• Decimal Multiplication: Count decimal places in the answer

• Verification: Check with repeated addition

All Operations Methods
\(\text{Addition}: A + B = C\)
Adding Money
\(\text{Subtraction}: A - B = C\)
Subtracting Money
\(\text{Multiplication}: A \times B = C\)
Multiplying Money
\(\text{Division}: A \div B = C\)
Dividing Money
Addition
Combine amounts
Use when getting more money
Subtraction
Take away amounts
Use when spending money
Multiplication
Repeated addition
Use when same amount multiple times
Division
Share equally
Use when splitting money
➕
Addition: Getting more money
➖
Subtraction: Spending money
✖️
Multiplication: Repeated amounts
➗
Division: Sharing equally
Solution: Exercises 4 to 5
4 Division Problem
Exercise 4
Four friends found $8.00 together and want to share it equally. How much does each friend get?
Definition:

Division: Splitting a total amount into equal parts

Total Amount
$8.00
Number of Friends
4
Each Gets
$8.00 ÷ 4 = $2.00

Operation: Division (÷)

Step 1: Identify the total amount

They found $8.00

Step 2: Identify the number of parts

There are 4 friends

Step 3: Divide the total by the number of parts

$8.00 ÷ 4 = $2.00

Step 4: Check with multiplication

$2.00 × 4 = $8.00 ✓

$8.00 ÷ 4 = $2.00 per friend
Final answer:

Each friend gets $2.00

Applied rules:

• Equal Sharing: Division splits a total into equal parts

• Decimal Division: Divide as if whole numbers, then place decimal

• Verification: Check with multiplication

5 Mixed Operations
Exercise 5
Tom earned $5.00 from mowing lawns. He spent $1.75 on candy. Then he earned $3.00 more from helping neighbors. Finally, he shared the remaining money equally with his sister. How much did each get?
Definition:

Mixed Operations: Problems requiring multiple operations to solve

Started With
$5.00
Spent
-$1.75
Earned More
+$3.00
Remaining
=?

Operations: Addition, Subtraction, Division

Step 1: Calculate after first transaction

$5.00 - $1.75 = $3.25

Step 2: Calculate after earning more

$3.25 + $3.00 = $6.25

Step 3: Divide equally between 2 people

$6.25 ÷ 2 = $3.125 ≈ $3.13

Step 4: Check the calculation

$3.13 × 2 = $6.26 (rounded from $6.25)

Each gets $3.13
Final answer:

Tom and his sister each get $3.13

Applied rules:

• Order of Operations: Perform operations from left to right

• Mixed Operations: Handle one operation at a time

• Rounding: Money typically rounded to nearest cent

Money Operations Strategies
\(\text{Change} = \text{Paid} - \text{Cost}\)
Making Change
Key definitions:

Addition: Combining amounts to find a total

Subtraction: Taking away one amount from another

Multiplication: Repeated addition of the same amount

Division: Splitting a total into equal parts

All operations methodology:
  1. Read the problem: Understand what operation is needed
  2. Identify amounts: Find all the dollar and cent amounts
  3. Choose operation: Select the correct mathematical operation
  4. Perform calculation: Execute the mathematical operation
  5. Check answer: Verify with inverse operation
Tip 1: Addition for getting more money, subtraction for spending money.
Tip 2: Multiplication for repeated amounts, division for sharing equally.
Tip 3: Always align decimal points when adding or subtracting.
Tip 4: For mixed operations, handle one operation at a time.
Common errors: Misaligning decimals, choosing wrong operation, calculation mistakes.
Practice strategies: Work with real money, practice all operations separately, solve mixed problems.
All operations formulas:

• Addition: Amount₁ + Amount₂ = Total

• Subtraction: Starting - Spent = Remaining

• Multiplication: Rate × Time = Total

• Division: Total ÷ Parts = Each Part

Questions & Answers

Question: How do I know when to use multiplication or division in money problems?

Answer: Here's how to distinguish between multiplication and division:

  • Multiplication: When you have the same amount multiple times ("$2 each day for 5 days")
  • Division: When you need to split a total into equal parts ("share $10 equally among 4 people")
  • Look for keywords: "each," "per," "times" often indicate multiplication
  • Look for keywords: "share," "divide," "split," "equal parts" often indicate division

Example: "4 apples at $0.50 each" → $0.50 × 4 = $2.00 (multiplication)

Example: "$12 shared among 3 people" → $12 ÷ 3 = $4 each (division)

Question: My child gets confused when problems have multiple operations. How can I help?

Answer: Break multi-operation problems into smaller steps:

  • Read slowly: Identify each transaction or action
  • Work sequentially: Solve one operation at a time
  • Write intermediate results: Don't try to do everything in your head
  • Check progress: Verify each step before moving forward

Example: "Start with $5, spend $2, earn $3, share with 2 people"

Step 1: $5 - $2 = $3

Step 2: $3 + $3 = $6

Step 3: $6 ÷ 2 = $3 each

Question: How do I teach students to verify their answers with all operations?

Answer: Use inverse operations to verify answers for each operation:

  • Addition: Subtract one addend from the sum to get the other addend
  • Subtraction: Add the difference to the subtrahend to get the minuend
  • Multiplication: Divide the product by one factor to get the other factor
  • Division: Multiply the quotient by the divisor to get the dividend

Example: $4.75 + $3.25 = $8.00

• Verification: $8.00 - $3.25 = $4.75 ✓

Example: $10.00 ÷ 4 = $2.50

• Verification: $2.50 × 4 = $10.00 ✓

Comprehensive Summary: Money Word Problems All Operations
Key Concepts and Definitions:

Addition: Combining amounts to find a total (symbol: +)

Subtraction: Taking away one amount from another (symbol: -)

Multiplication: Repeated addition of the same amount (symbol: ×)

Division: Splitting a total into equal parts (symbol: ÷)

Mixed Operations: Problems requiring more than one mathematical operation

Core Rules and Principles:

• Operation Selection: Addition for getting more money, subtraction for spending money

• Operation Selection: Multiplication for repeated amounts, division for sharing equally

• Decimal Alignment: Always align decimal points when adding or subtracting

• Verification: Use inverse operations to check your answer

Addition Method:
  1. Align decimals: Write numbers with decimal points lined up
  2. Add cents: Add the hundredths and tenths columns
  3. Add dollars: Add the ones and tens columns
  4. Carry over: If cents total exceeds 100, carry to dollars
  5. Verify: Check by subtracting one addend from the sum
Subtraction Method:
  1. Align decimals: Write numbers with decimal points lined up
  2. Check for borrowing: See if top number is smaller than bottom
  3. Borrow if needed: Take from next place value
  4. Subtract: Subtract column by column
  5. Verify: Check by adding the difference to the subtrahend
Multiplication Method:
  1. Identify repeated amount: Find the amount that occurs multiple times
  2. Count occurrences: Determine how many times it happens
  3. Multiply: Amount × Number of times
  4. Handle decimals: Count decimal places in answer
  5. Verify: Check with repeated addition
Division Method:
  1. Identify total amount: Find the total to be divided
  2. Identify number of parts: Determine how many equal parts needed
  3. Divide: Total ÷ Number of parts
  4. Handle decimals: Place decimal point in quotient
  5. Verify: Check by multiplying quotient by divisor
Tip 1: Addition for getting more money, subtraction for spending money.
Tip 2: Multiplication for repeated amounts, division for sharing equally.
Tip 3: Always align decimal points when adding or subtracting money.
Tip 4: For mixed operations, handle one operation at a time.
Common Pitfalls: Misaligning decimals, choosing wrong operation, calculation mistakes, skipping verification.
Practice Strategies: Use real money for practice, work with word problems, verify answers.
Key Takeaways for Students:

• Use addition when getting more money, subtraction when spending money

• Use multiplication when the same amount occurs multiple times

• Use division when sharing money equally among people

• Always align decimal points when adding or subtracting money

• For multi-step problems, solve one operation at a time