F. Financial Literacy · Making Change

Making Change: Unit Review

F1.1 A1About 40 minutes

Learning goals

I can find change for whole-dollar prices and for prices under $1.
I can estimate change and tell if change makes sense.
I can find change when I buy more than one item.
I can give and check change like a shopkeeper.

Words to know

change
The money you get back when you pay more than the price.

count up
Start at the price and count forward to the money paid.

estimate
A close guess using friendly numbers like 25¢, 50¢, 75¢, $5 and $10.

total
All the prices added together.

fewest
The smallest number of coins or bills.

Let's review!

In this unit you learned what change is. You found change from $5, $10 and $20 bills and from a loonie, estimated change, found change for more than one item, and gave and checked change like a shopkeeper.

This review has a few questions from every lesson. Use real or play money if it helps. Try each question, then press Show answer to check.

A bar model for change. The price and the change together make the money paid. Use this check for every question in the review.

What Is Change?

A toy costs $6. You pay with a $10 bill. What is your change?

A book costs $3. You pay with a $5 bill. What is your change?

A game costs $15. You pay with a $20 bill. What is your change?

Change from a Loonie

A juice costs 65¢. You pay with a loonie. What is your change?

A pencil costs 20¢. You pay with 2 quarters. What is your change?

A snack is priced at 88¢. You pay with cash. What does the total round to?

Estimating Change

A cookie costs 45¢. Estimate the change from a loonie.

A puzzle costs $3. You pay with a $10 bill. Will the change be more or less than $5?

A muffin costs 90¢. You pay with a loonie and get a quarter back. Is that reasonable?

Change for Two or More Items

You buy items for 30¢ and 45¢. You pay with a loonie. What is your change?

You buy items for $4 and $5. You pay with a $10 bill. What is your change?

You have a loonie. Can you buy a 60¢ drink and a 50¢ snack?

You buy items for $1, $2 and $3. You pay with a $10 bill. Find the change by taking away one price at a time.

A picture of the last question below. Count up from the price to check.

Be the Shopkeeper: Giving and Checking Change

What are the fewest coins for 45¢ in change?

A customer paid $10 and got back a $5 bill and a toonie. What was the price?

A cookie costs 25¢. A customer pays with a loonie and gets 2 quarters back. Is that right?

Just for fun

What if every coin were the same size and colour? You would need a magnifying glass to pay for a snack! Good thing our coins are different. The loonie even has 11 sides.

How to use this review

Do the review in two short sittings if your child gets tired. Each section matches one lesson.
Let your child use real or play money and act out each question.
After each answer, ask "How did you know?" and "How can you check?" The check (price + change = money paid) is a big part of this unit.
If a section is hard, go back to that lesson and do its practice questions again.

Check your understanding

Quiz

A toy costs $6. You pay with a $10 bill. What is your change?

A juice costs 65¢. You pay with a loonie. What is your change?

Which pair makes 100?

A snack costs 70¢. About how much change will you get from a loonie?

A book costs $3. You pay with a $10 bill. What can you say about the change?

An apple costs 40¢ and a cookie costs 25¢. You pay with a loonie. What is your change?

What are the fewest coins for 15¢?

You pay with a $5 bill and get a toonie back. What was the price?

Why are cash totals in Canada rounded to the nearest 5¢?

10.

A pen costs 45¢. You pay with a loonie and get 55¢ back. Is the change right?

For parents and teachers

What this review covers: all of F1.1 for Grade 3 (estimate and calculate the change required for simple cash transactions involving whole-dollar amounts and amounts of less than one dollar), plus problem solving and social-emotional skills (A1).

Which lesson to revisit:

Adds instead of subtracting, or struggles with change from $5, $10 or $20: go back to What Is Change?
Trouble with change from a loonie or with pairs that make 100 (e.g. says 65¢ for a 45¢ item): go back to Change from a Loonie.
Thinks the estimate must be exact, or does not notice unreasonable change: go back to Estimating Change.
Forgets an item, or does not check whether the money is enough: go back to Change for Two or More Items.
Uses too many coins, struggles to work backwards to a price, or does not check change: go back to Be the Shopkeeper: Giving and Checking Change.

How to help: Keep practising in everyday life: let your child predict the change before a cashier gives it, and count it together afterwards. Keep coins away from young children.