Money Word Problems Worksheets

In these free math worksheets, students learn to solve money word problems.

There are four sets of money word problems worksheets:
Money Word Problems (quarters, dimes, nickels, & pennies)
Money Word Problems (dollar bills)
Money Word Problems (change for $1)
Money Word Problems (up to $100)

How to money word problems?
Answering money word problems involves breaking down the problem, identifying the key information, and using basic arithmetic to find the solution. Here’s a step-by-step guide on how to approach and answer money word problems:

1. Read the Problem Carefully: Start by carefully reading the entire word problem. Understand the context and what is being asked.
2. Identify the Given Information: Identify the information provided in the problem. Look for amounts of money, quantities of items, and any other numerical data.
3. Determine the Unknown: Identify what the problem is asking you to find. Is it the total cost, change, remaining amount, or some other value?
4. Translate Words into Math: Translate the given information and the unknown into mathematical expressions or equations. Use variables for unknowns if necessary.
5. Choose the Appropriate Operation: Determine which mathematical operation (addition, subtraction, multiplication, or division) is needed to solve the problem based on the context.
6. Perform the Calculation: Use the chosen operation to perform the calculation. Pay attention to units (e.g., dollars and cents) and ensure your answer makes sense in the context of the problem.
7. Check Your Answer: After finding a solution, check if it makes sense in the context of the problem. Ensure your answer is reasonable and meets the conditions provided.
8. Write a Clear and Concise Answer: Express your final answer clearly, using appropriate units. If the problem asks for an amount of money, represent it in dollars and cents.

Example:
Problem:
Mia bought a toy for $15. She paid with a $20 bill. How much change should Mia receive? Solution:
Given Information: Mia spent $15, paid with a $20 bill.
Unknown: Amount of change Mia should receive.
Translate into Math: Change = Amount paid - Cost of the toy.
Choose Operation: Subtraction (20 - 15).
Perform Calculation:
20 − 15 = 5
Check Answer: The change is $5, which is reasonable given the cost of the toy and the amount paid.
Write Answer: Mia should receive $5 in change.

Click on the following worksheet to get a printable pdf document.
Scroll down the page for more Money Word Problems Worksheets.

More Money Word Problems Worksheets

Printable
(Answers on the second page.)
Money Word Problems Worksheet #1 (quarters, dimes, nickels, & pennies)
Money Word Problems Worksheet #2 (quarters, dimes, nickels, & pennies)

Related Lessons & Worksheets

Try the free Mathway calculator and problem solver below to practice various math topics. Try the given examples, or type in your own problem and check your answer with the step-by-step explanations.

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