Currency units were created to quantify money.
In a peso there are 100 cents.
In a dollar there are 100 cents.
In a euro there are 100 cents.
Likewise, there are conversion measures that allow us to convert amounts from one currency to another. For example, in the conversion between peso and dollar, dollar and euro, etc.
Example of an exercise with currency units
How many cents are there in 5 dollars?
If there are 100 cents in a dollar, we should multiply the 5 dollars by 100 to get the equivalent amount of cents.
1 dollar =100 cents
5 dollars =X cents
5×100=500
Therefore, 5 dollars are equivalent to 500 cents.
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Examples of exercises with monetary units
Example 1
How many cents are there in 5 dollars?
If there are 100 cents in a dollar, we must multiply the 5 dollars by 100 to find the number of cents.
1 dollar =100 cents
5 dollars =X cents
100×5=500
Therefore, there are 500 cents in 5 dollars.
Example 2
How many cents are there in 200 pesos?
Let's remember that in one peso there are 100 cents. The calculation will look like this:
1 peso =100 cents.
200 pesos=200 × 100 cents =20,000 cents.
That is, we found that in 200 pesos there are 20,000 cents.
Do you know what the answer is?
Example 3
How many Mexican peso cents are there in 200 dollars?
Let's assume the exchange rate is 1 dollar to 17.50 Mexican pesos.
Solution:
This question requires us to use two different currencies, therefore, we must convert them using the exchange rate.
Let's calculate:
Given that 1 dollar is worth 17.50 Mexican pesos, if we want to know how many pesos are 20 dollars we must multiply each dollar by the exchange rate. We will obtain:
20×17.50=350
So far, we have that 20 dollars are 350 Mexican pesos, now we need to calculate how much is 350 pesos in cents.
We know that:
1 peso =100 cents.
Therefore:
350 pesos =350 × 100 cents =35,000 cents.
That is, we found that 20 dollars are 35,000 cents.
Review Questions
What is a currency unit?
It is a unit with a value, that is, a currency that has a value with which you can exchange some goods or objects for the same value of the currency.
How is currency exchange calculated?
To make some changes from one currency to another we must know their equivalences of each one, that is, of the peso, dollar, and euros which are the most common:
For example
One dollar =17.50 pesos
One Euro =18.73 pesos
It is worth remembering that these values are always changing.
How many pesos are there in 35 dollars?
Solution
As we well know one dollar =17.50 pesos, then it is only necessary to multiply the number of dollars by 17.50
35×17.50 pesos =612.50 pesos
Answer
So there are =612.50 pesos in 35 dollars.
Which currencies have more value?
As we said, the most common currencies are the peso, dollar, and euro, and of them, the one with the highest value is the Euro with 18.73 pesos.
Examples and exercises with solutions of monetary units
Exercise #1
Video Solution
Step-by-Step Solution
To answer, you need to understand that one shekel is actually 100 agorot.
Therefore, one agora is 0.01 NIS.
0.18 NIS, therefore, is 18 agorot.
You can also arrive at this by calculation, if we multiply by 100.
0.18*100=18
Answer
Exercise #2
Video Solution
Answer
Exercise #3
Video Solution
Answer
Exercise #4
Write \( 5\frac{1}{4} in terms of cents.
Video Solution
Answer
Exercise #5
How many cents are in 5.7 $?
Video Solution
Answer