Money and decimal place intuition

Money and decimal place intuition Decimal number representation is one of the very useful representation in mathematics. Decimal numbers is placing a decimal point in-between few digits. The decimal place value is given as the first number to the right of decimal point is the tenths place. The second number to the right of decimal point is the hundredth place and so on. The decimal representation is used to represent the money also. The digits before the decimal point is the dollars and the digits after the decimal point are the cents. Example 1: The school bag costs $ 12.56 and the price has been reduced by $ 4.32. Find the new price of the bag? Solution: The price of the school bag = $ 12.56. The amount of price reduced = $ 4.32. The new price of the school bag after reduction = $ 12.56 - $ 4.32 = $ 8.24 Hence the new price of the school bag = $ 8.24. Question: Multiple choice question (Pick the correct option.) Peter buys a candy for $ 3.12 and pencil for $ 1.23. How much did he send? a) $ 4.00 b) $ 4.35 c) $4.40 d) None of these. Correct answer: option b. Explanation: Amount of money spent on a candy = $ 3.12. Amount of money spent on the pencil = $ 1.23 The total amount spend on purchasing the items = $ 3.12 + $ 1.23 = $ 4.35 Hence, amount of money Peter spent on the items = $ 4.35.