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Comparing Money

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Basics on the topic Comparing Money

Comparing Money

When you compare something, such as money, we are trying to examine the quantities or values to decide if it is greater than, less than or equal to. We can use the greater than less than or equal to symbols when comparing money.

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The next section will explain comparing money amounts.

Comparing Money – Counting Amounts

We are learning about comparing money values. We need to see how much money is in each piggy bank first. That means we will practise adding and comparing money.

Let’s look at what’s inside this piggy bank first and write an equation. This piggy bank has two twenty pound notes, a five pound note, four one pound coins, three twenty pence coins and three pennies. The illustration below shows the equation:

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First, add up the pounds, then add up the pence to get the total forty nine pounds and sixty three pence.

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Now, let’s calculate how much money is in the other piggy bank. This piggy bank has a twenty pound note, two ten pound notes, nine one pound coins, three ten pence coins, four five pence coins and a penny. The illustration below shows the equation:

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First, add up the pounds, then add up the pence to get the total forty nine pounds and fifty one pence.

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Now that we know each amount they have, let’s practise comparing money values!

Comparing Money – Comparing Values

Start by comparing the greatest place value, the tens place. Since they each have a four in the tens place, or forty pounds, we move on to the ones place.

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Since they each have a nine in the ones place, we move on to the tenths place.

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In the tenths place one has a six, and one has a five which means forty nine pounds and sixty three pence is greater than forty nine pounds and fifty one pence!

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Comparing Money – Summary

Remember, we can use the greater than, less than or equal to symbols when comparing money. When you want to compare money and you know the amount of money that you have, these steps are helpful:

Step # What to do
1 Start with the greatest place value and compare.
2 If the place value digits are equal,
move to the next place value and compare.
3 If the next digits are equal, keep moving
to the next place value until you find
two different numbers to compare.
4 Finally, compare using the greater than,
less than or equal to symbol.

Want some more practice comparing money (UK) after the comparing money video? On this website there is a comparing money amounts worksheet for KS2, along with other activities and interactive exercises.

Transcript Comparing Money

"Wow Zuri, I can't believe someone would throw these away!" "I know! Mine is so heavy, there must be a lot of money in here!" "No way, mine has more money because it's much heavier!" "HMPH! There's only one way to settle this, let's count it and compare!" Word Problems: Comparing Money. We can use the greater than, less than or equal to symbols when comparing money. Keep in mind that pounds are whole numbers and pence are parts of a whole. For example, there are ten ten ps in one pound. Let's take a closer look at this scenario as a word problem. In order to solve, first read the word problem. As you read, think; 'what do I need to find?' and highlight the question you need to solve! Zuri's piggy bank has two twenty pound notes, a five pound note, four one pound coins, three twenty pence coins and three one pence coins. Freddie's piggy bank has a twenty pound note, two ten pound notes, nine one pound coins, three ten pence coins, four five pence coins and a penny. Whose piggy bank has more money? Here we highlight, "Whose piggy bank has more money?" because it asks us to find whose piggy bank has the greater amount. Now, reread and think: 'What is the important information?' While rereading, highlight keywords, numbers or units of measurement that will help answer the question about which one has more. In the second sentence highlight "two twenty pound notes, a five pound note, four one pound coins, three twenty pence coins and three one pence coins", because this tells us the money Zuri has. In the next sentence, highlight a "twenty pound note, two ten pound notes, nine one pound coins, three ten pence coins, four five pence coins and a penny," because this tells us the money Freddie has. Next, identify the operation. We need to compare the amount of money they have, but first we need to see how much money they each have in total. Which operation do we use? ‘In total' is a key phrase that tells us to add. We write an equation for Zuri's money first. Then, solve the equation. First add up the pounds then add up the pence. How much money does she have? Zuri has forty-nine pounds and sixty-three pence. Let's calculate Freddie's money, first write the equation, then, solve the equation. First add up the pounds, then add up the pence. How much money does he have? Freddie has forty-nine pounds and fifty-one pence. Now that we know how much money they each have, let's compare! Start by comparing the greatest place value, the tens place. Since they each have a four in the tens place, or forty pounds, we move on to the ones place. What do you notice about the ones place? They each have a nine in the ones place, so we move on to the tenths place. Which numbers are in the tenths place? Zuri has a six and Freddie has a five which means forty-nine pounds and sixty-three pence is greater than forty-nine pounds and fifty-one pence! Before we see what they spend their money on, let's summarise. Remember, we can use the greater than, less than or equal to symbols when comparing money. First, start with the greatest place value and compare. If the place value digits are equal, move to the next place value and compare. If the next digits are equal, keep moving to the next place value until you find two different numbers to compare. Finally, compare using the greater than, less than or equal to symbol. "I'm so happy that we put our money together and got the pool we've been wanting!" "Heh heh, yeah Zuri..." "Is everything okay, Freddie?" "What if I told you I don't know how to swim..." "Oh Freddie! The water only goes up to your ankles!"

Comparing Money exercise

Would you like to apply the knowledge you’ve learnt? You can review and practice it with the tasks for the video Comparing Money.
  • What do these symbols mean?

    Hints

    Remember, the opening faces the larger number, both when we use the greater than symbol and when we use the less than symbol. The opening always faces the bigger number, and we read it left to right.

    Look at this example of nine being greater than three: 9 > 3

    Solution

    These symbols show greater than, less than, and equal to. We see these symbols when we compare numbers.

  • How much money have Freddie and Zuri got?

    Hints

    Remember, add the pounds first. Then, add the pence.

    Once you have counted the pounds, remember to count up the pence starting at the largest number.

    Solution

    They earned £6.84.

    We count 5 + 1 pounds, so we know the pounds amount is £6.

    We count 50 + 10 + 10 + 10 + 2 + 1 + 1 pence, which makes £00.84 pence.

  • Can you compare the amounts?

    Hints

    Remember, start by comparing the greatest value. If the largest digit is the same, move to the next place value until you get two different numbers.

    Remember, the opening always faces the larger number.

    Remember, the = sign means both sides have equal amounts.

    Solution

    Here are the correct answers.

    The opening of the greater than or less than symbol always faces the larger amount. If both amounts are the same, we can use the equals symbol.

  • Which piggy bank has the most money?

    Hints

    Remember, add the notes together first, then add the coins.

    Write down each total and then compare using <, > or =.

    Solution

    The piggy bank on the left has more money, so we compare with the > symbol.

    Left piggy bank:

    • £10 + £5 + £1 + £1 + £1 = £18
    • 50 p + 50 p + 50 p + 50 p = £2
    • 2 p + 2 p + 2 p + 2 p + 2 p + 2 p = 12 p
    • £18 + £2 + 12 p = £20.12
    Right piggy bank:
    • £5 + £5 + £5 + £2 + £2 = £19
    • 10 p + 10 p + 10 p + 10 p + 10 p + 10 p + 5 p + 5 p + 5 p + 5 p + 1 p + 1 p + 1 p + 1 p + 1 p + 1 p + 1 p = 87 p
    • £19 + 87 p = £19.87

    £20.12 > £19.87

  • How do we solve this problem?

    Hints

    Remember, think about what the word problem is asking you to solve.

    Look for the question mark (?) to find the question this problem is asking you to solve.

    Solution

    The question this word problem is asking you to solve is: whose piggy bank has more money? This tells us what to focus on, and that we will be counting and comparing.

    We would then add Zuri's money together, add Freddie's money together and find out who has more.

  • Count and compare.

    Hints

    Remember, add the pounds first then add the pence.

    Remember, go through the totals using place value to see which amount is greater.

    Solution

    Zuri has £43.26 in her piggy bank.

    • 10 + 10 + 5 + 5 + 5 + 1 + 1 + 1 + 1 + 1 + 1 + 1 + 1 = 43
    • 5 + 5 + 5 + 5 + 5 + 1 = 26
    • £43 + 26 p = £43.26.
    Freddie has £41.45 in his piggy bank.
    • 20 + 10 + 5 + 5 + 1 = 41
    • 20 + 10 + 5 + 5 + 5 = 45
    • £41 + 45 p = £41.45.
    They both start with 4 so we move to the next digit. Zuri has 43 and Freddie has 41. Since 3 is greater than 1, we know that Zuri has the greater amount of money.

    £43.26 > £41.45