How to Solve Problems with Money


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question 1 of 3

George earns $12 per hour painting houses. If he works for 7 hours one day, how much does he earn?

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1. Faith buys gifts for 5 friends. If each gift costs $18, how much did she spend in total?

2. Calvin has twice as many dimes as nickels. If he has a total of $4, how many nickels does he have?

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About This Quiz & Worksheet

Solving word problems involving money requires the completion of a few steps: reading carefully, identifying the question, identifying the known and unknown information, looking for key words, and, finally, answering the question. This quiz and worksheet combo will test your ability to follow these steps while attempting to solve word problems involving money.

Quiz & Worksheet Goals

In these assessments, you'll be tested on your ability to do the following:

  • Read through a word problem involving money
  • Identify the question you're being asked to answer
  • Solve the problem by using the correct mathematical operation to provide the relevant answer

Skills Practiced

This quiz and worksheet will allow you to test your skills in the following areas:

  • Reading comprehension - ensure that you draw the most important information about the steps required in solving word problems involving money
  • Critical thinking - use your understanding to decide what you do and don't know, looking for key words
  • Problem solving - use your acquired knowledge to solve practice word problems involving money

Additional Learning

To learn more about this topic, review the accompanying lesson called How to Solve Problems with Money. This lesson covers the following objectives:

  • Define money word problems
  • Describe the five steps to examining and solving problems involving money
  • Demonstrate your ability to analyze questions, determine the answer you're being asked to give, and then solve the problems