Introduction:
Money is an essential part of our lives, and understanding how to manage it is a vital skill. Through the use of money word problems, you can enhance your financial literacy and problem-solving abilities. Whether you’re a student, teacher, or parent seeking to educate yourself or your children on the subject, these 30 money word problems will provide an excellent opportunity to test and improve your financial understanding.
1. Sara went to the store with $50. She bought snacks for $12, a book for $18, and a toy for $6. How much money does she have left?
2. John earned $200 from his part-time job this month. He saved 25% of his income and spent the rest on clothes. How much money did he spend on clothes?
3. Maria wants to buy a dress that costs $60. She has already saved $35. If she saves $5 per week, how many more weeks does she need to save for the dress?
4. An online store is offering a 10% discount on all items during their summer sale. If a shirt originally costs $45, how much will it cost after the discount?
5. Peter buys lunch at school every day for $3.50 per meal. How much does he spend on lunch this month if there are 20 school days in the month?
6. Lucy bought six pairs of socks for a total price of $18. What is the cost of each pair of socks?
7. Carlos wants to purchase a bicycle that costs $240 on installment over six months without interest charges. How much will he need to pay each month?
8. Chloe’s parents gave her an allowance increase of 15% starting this month due to her excellent performance at school. If her previous allowance was $65 per month, what is her new allowance?
9. An amusement park offers a group discount of 20% for parties of ten or more people. If a regular ticket price is $55, how much would each person pay in a group of twelve?
10. During a buy-one-get-one-free sale at the grocery store, Sam buys six packs of cookies priced at $3.50 each. How much does he pay for all the packages?
11. Jane spent one-third of her weekly allowance on movie tickets and the remaining amount on snacks. If she spent $30 this week, how much did she spend on movie tickets?
12. Paul wants to save up for a video game console costing $360 by doing odd jobs over the summer vacation. If he earns $10 per job, how many jobs will he need to do to afford the console?
13. A shop is having a 2-for-1 sale on T-shirts that usually cost $25 each. How much would one pay for four T-shirts during this sale?
14. Rebecca has five $1 bills, three $5 bills, and two $10 bills in her wallet. What is the total amount of money in her wallet?
15. Amy received a 5% raise in her annual salary this year. If she was making $40,000 before the raise, what is her new salary?
16-30: Complete these additional money word problems and check your answers.
[Insert additional problems here]
Conclusion:
These thirty money word problems provide an opportunity to practice and enhance your financial understanding and problem-solving skills. Solving these types of questions will help build essential life skills such as budgeting, saving, and spending wisely.